Get Adobe Flash player

Archives

Markets in a Minute

Markets in a Minute | June 2, 2017

For the Week Ending June 2, 2017
 

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

 

 

The Consumer Confidence Index, which had decreased in April, fell again slightly in May. However, consumers remain optimistic about the economy on the whole.
Consumer spending recorded its biggest increase in 4 months in April, and monthly inflation rebounded. Inflation pressures mortgage rates to move higher.
The Fed sees the economy expanding at a “modest to moderate” pace through May, strengthening the case that a policy rate hike at the June meeting is likely.

 

Case-Shiller reports the inventory of homes for sale remains “unusually low,” driving up values. Prices continued to rise in March, reaching a 33-month high.
Pending home sales were down slightly in April, according to NAR. Demand remains high, but the low inventory is causing a bottleneck in sales.
One factor that may be adding to inventory woes is the failure of investors to sell. Many homes that were purchased during the downturn are now rentals.

 

My neighbors always leave their sprinklers on, which is a bit annoying. I guess you could say it’s a source of constant irrigation.

 

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 | May 26, 2017

For the Week Ending May 26, 2017
 

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

 

Minutes released from the Fed’s May FOMC meeting support a possible policy rate hike in June. However, chances of a September rate hike went down.
Recent economic data has been mixed. Signs of a dip in consumer sentiment and spending are offset by continued strengthening in the job market.
The 4-week average of continuing jobless claims decreased between the April and May survey weeks. The average is at the lowest level since January 1974.
New home sales were down in May from April’s 9-1/2-year high, but the housing recovery is intact. Demand is still strong, and inventory remains tight.
Existing home sales fell in April, weighed down by a chronic shortage of inventory. However, home prices increased 6% year-over-year in April.
Low inventory pushed time on market to new lows in April. The average number of days on the market was 29, lower than last May’s record of 32 days.

 

A broker was dismayed when a brand new real estate office much like her own opened next door and put up a huge sign that said, “BEST AGENTS.”

She was horrified when another competitor opened on the other side and put up an even larger sign saying, “LOWEST COMMISSIONS.”
The broker panicked, until she got an idea. She put up the biggest sign of all over her own real estate office. It read, “MAIN ENTRANCE.”

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.