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Markets in a Minute

Markets in a Minute | December 1, 2017

 

 

Third quarter GDP numbers showed the economy grew by 3.3%, in line with expectations. This was the quickest pace of growth in 3 years.
The likelihood of tax reform being signed into law by the end of the year is increasing. The tax reform is expected to spur economic growth for 2018.
The Fed is expected to raise policy rates this month, but that shouldn’t have much effect on mortgage rates. Markets have already anticipated the rate hike.

 

New home sales in October unexpectedly rose to the highest level in a decade. Single-family home sales rose 6.2% over September, the highest since October 2007.
Home prices rose in September 6.2% over last year and are expected to continue to increase. Prices are rising at the fastest annual rate since June 2014.
Pending home sales jumped 3.5% in October. Led by the hurricane stricken South, the growth was more than double what was expected.

 

What happens to a frog’s car when it breaks down?

It gets toad away.

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.