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Markets in a Minute

Markets in a Minute | November 17, 2017

 

The Producer Price Index, which measures wholesale inflation, rose 0.4% in October. Core PPI was also up, supporting a Fed rate increase next month.
Retail sales were also improved in October, coming in stronger than expected. The increase of 0.2% signals a growing economy and could pressure rates.
Tax reform continues to make progress in both chambers of Congress. Once passed, the reform is expected to spur further economic growth.

 

Home builder confidence hit an 8-month high in November, despite increased costs and labor shortages. Buyer demand remains high on reduced inventory.
National mortgage delinquency rates continue to fall, down 0.6% year-over-year in August. Foreclosure inventory was also down 0.3% year-over-year.
The House passed legislation to extend the National Flood Insurance Program for 5 years. However, the Senate still must approve the bill for it to take effect.

 

I had a job tying sausages together, but I couldn’t make ends meet.

 

Please note: We will not publish The Markets in a Minute next week. Wishing you a wonderful Thanksgiving Day!

 

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 | November 10, 2017

 

Traders continue to drive stocks to new heights and new records. However, concerns over the new tax reform plan going through have started to surface.
The tax reform plan is expected to drive economic growth and corporate profits. If the plan doesn’t go through as anticipated, it could help interest rates.
The labor market remains strong. Job openings posted by employers in September were steady from the prior month, a near record high.

 

Rents have been increasing far faster than the pace of inflation. However, rising homeownership numbers could curb demand, slowing the increases.
New applications for purchase mortgages increased 1% last week. That’s 9% higher year-over-year, as buyers seem less concerned about rates.
The tax reform plan, as proposed, would lower the mortgage deduction on new purchases. There are lots of opinions of what effect, if any, it would have on sales.

 

I was called into my manager’s office today because of my dress code.

He said, “You can’t wear pajamas for work.”

I said, “Everyone else does.”

He said, “That’s because they’re patients.”

 

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.