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Michael Creed

Markets in a Minute | November 3, 2017

 

The Fed announced at this week’s meeting that there would be no policy rate hike this month. They did however signal a December hike is very likely.
Markets have been rallying on the probable nomination of Jerome Powell as the next Fed Chair. Powell is expected to continue the trend of current Fed policies.
The tax reform proposals issued by the House GOP have sparked a stock rally. A proposed cut to corporate taxes is expected to fuel the economy.

 

Home prices hit a new all-time high in August, according to Case-Shiller. National home prices rose 6.1% annually, better than the 5.8% economists expected.
Construction spending increased 2.0% year-over-year in September. Month-over-month spending fell for non-residential construction and was unchanged for residential construction.
Despite tight inventory and rising home prices, the homeownership rate rose in the 3rd quarter. The 63.9% rate is the highest level since 2014.

 

My sister bet me $100 that I couldn’t build a car out of spaghetti. You should’ve seen the look on her face as I drove pasta.

 

Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time.

Markets in a Minute | October 27, 2017

 

Stocks continue to hit new highs, driven by optimism over new tax regulations and a spurred economy. The rally is putting pressure on rates to move higher.
The European Central Bank is extending their economic stimulus into 2018 but will reduce the amounts. Overall the news was positive for bonds and rates.
The Fed will meet next week for their FOMC meeting. It’s not likely they will raise policy rates next week, but they are expected to do so at the December meeting.

 

New home sales surged 18.9% in September to the highest level in 10 years. This was a nice recovery after unexpectedly falling 3.4% in August.
Pending home sales were flat in September though, as demand continued to exceed supply. There are some concerns that winter will further reduce inventory.
Mortgage applications for home purchases were down last week. Economists say rates likely had less to do with the drop than the shortage of homes for sale.

 

A guy shows up late for work.

The boss yells, “You should’ve been here at 8:30!”

He replies, “Why? What happened at 8:30?”

 

Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time.