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Markets in a Minute | March 3, 2017

For the Week Ending March 3, 2017
 

Please enjoy this quick update on what happened this week in the housing and financial markets.

 

 

The idea of a Fed policy rate hike in March has gained steam, with an almost 80% expectation it will happen. Just last week there was only a 30% chance.
Consumer spending was down slightly in January, but manufacturing increased. The labor market remains strong, with jobless claims near a 44-year low.
Inflation recorded the biggest monthly increase in 4 years in January, raising the probability of a policy rate hike from the Fed this month.

 

Pending home sales were down slightly in January compared to December, blamed on higher mortgage rates and near record low supply.
However, strong demand and low inventory also pushed home price gains to a 2-1/2-year high. Home prices rose 5.8% year over year in December.
Construction spending was down slightly, but spending on private construction (like homes) was up. Spending on residential construction actually increased 0.5%.

 

What do you call a fake noodle?

An impasta.

 

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 | February 24, 2017

For the Week Ending February 24, 2017
 

Please enjoy this quick update on what happened this week in the housing and financial markets.

 

Although markets were closed on Monday for Presidents’ Day, stocks once again hit new highs this week as traders expect the economy to continue improving.
Unemployment filings continue to reflect labor market strength. Although up slightly this week, jobless claims have the lowest 4-week average since 1973.
The minutes from last month’s FOMC meeting show the Fed could be looking to raise policy rates soon. The decision will depend on data for jobs and inflation.
Existing home sales surged to a 10-year high in January. Demand remains strong as buyers shrug off increasing prices and higher mortgage rates.
A survey of 30 analysts by Reuters predicts home prices will rise at almost double the current rate of underlying inflation and wages over the next few years.
Small investors buying homes to flip or rent remain a strong part of the market. Last year, 37% of homes sold were acquired by buyers who didn’t live in them.

 

My grandpa started walking five miles a day when he was 60.

Now he’s 97, and we have no idea where he is.

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.