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Markets in a Minute

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.

Markets in a Minute | May 19, 2017

For the Week Ending May 19, 2017
 

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

 

 

Stocks plummeted and bonds rallied after events in Washington, D.C., spooked investors. The rally in bonds has helped to improve mortgage rates.
The investigations into Trump’s recent activities have occupied investors’ attention. Other factors, such as possible Fed rate hikes, have taken a back seat.
The labor market appears to be near full strength as jobless claims came in at a 28-1/2-year low. This is the 115th straight week claims were below 300,000.

 

Home builders showed the highest confidence in the housing market since June 2005. The NAHB index reached 71 in May, as home supply remains tight.
Housing starts were down slightly in April, but building of single-family homes was up 0.4%. Labor and material shortages could be to blame.
Builders are struggling to meet demand of lower-priced starter homes. Higher costs for labor, land and materials make it more expensive to build homes.

 

Why did the scarecrow get a raise?

He was outstanding in his field.

 

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.