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Markets in a Minute | January 13, 2017

For the Week Ending January 13, 2017
 

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

 

 

Wholesale inventories rose in November, slightly more than previously reported. The increase was the largest gain in 2 years and supports economic growth.
Rising wages and expected tax cuts are expected to boost consumer spending and support economic growth through much of this year.
A tighter labor market and anticipated improvements are expected to stoke inflation. Inflation could contribute to rising rates through 2017.

 

Purchase mortgage applications were up 6% for the week as buyers head back to the housing market after the holidays. It also helps that rates have improved.
According to CoreLogic, foreclosures are approaching pre-crisis levels. November foreclosures numbered 26,000, down from 35,000 in November 2015.
In an NAHB survey, 70% of homebuyers preferred an open floor plan home. Builders are delivering, with 84% reporting the use of open or partially open plans.

 

Paraskevidekatriaphobia (fear of Friday the 13th) Fun Facts

 

1. 90% of US skyscrapers do away with floor number 13, according to reports by the Otis Elevator Company, the world’s largest elevator manufacturers.

 

2. The 32nd President of the United States, Franklin Roosevelt, never travelled on a 13th and refused to have a meal with 13 people at the table.

 

3. The deadliest associations with number 13 are the facts that there are 13 stairs leading to the gallows; the blade in a guillotine fell from a height of 13 feet; and a hangman has 13 knots in a hangman’s noose.

 

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 | January 6, 2017

For the Week Ending January 6, 2017
 

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

Despite the worst start to a year ever, U.S. stocks posted healthy gains in all three major indexes in 2016. Strong stock markets can pressure mortgage rates.
Markets forecast the Fed will raise policy rates twice in 2017. However, the Fed expects to increase policy rates 3 times. Either way, looks like rates will rise.
Minutes released from last month’s Fed meeting show members are uncertain about how the Trump administration policies will affect economic growth.
Freddie Mac released information showing that more than 80% of the top 100 housing markets improved in 2016. The trend is expected to continue in 2017.
Home prices nationwide rose 7.1% year-over-year in November, according to CoreLogic. Prices are forecast to rise 4.7% from November 2016 to November 2017.
Smart-home tech continues to become mainstream, with 72% of households having some kind of smart product. Voice control is gaining popularity as well.
My goal for 2017 is to accomplish the goals of 2016, which I should have done in 2015 because I made a resolution in 2014 and planned them out in 2013.

Happy New Year. 🙂

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.