Get Adobe Flash player

Archives

Markets in a Minute

Markets in a Minute | October 27, 2017

 

Stocks continue to hit new highs, driven by optimism over new tax regulations and a spurred economy. The rally is putting pressure on rates to move higher.
The European Central Bank is extending their economic stimulus into 2018 but will reduce the amounts. Overall the news was positive for bonds and rates.
The Fed will meet next week for their FOMC meeting. It’s not likely they will raise policy rates next week, but they are expected to do so at the December meeting.

 

New home sales surged 18.9% in September to the highest level in 10 years. This was a nice recovery after unexpectedly falling 3.4% in August.
Pending home sales were flat in September though, as demand continued to exceed supply. There are some concerns that winter will further reduce inventory.
Mortgage applications for home purchases were down last week. Economists say rates likely had less to do with the drop than the shortage of homes for sale.

 

A guy shows up late for work.

The boss yells, “You should’ve been here at 8:30!”

He replies, “Why? What happened at 8:30?”

 

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 | October 21, 2017

 

Recently released economic data shows the economy is growing, but inflation is still not a problem. Rising inflation pressures mortgage rates to move higher.
The Fed is expected to leave policy rates unchanged at this month’s meeting but raise them at December’s meeting, despite lack of inflation.
Unemployment benefit claims fell to a 44-year low last week. This points to a rebound in job growth after a hurricane-related decline in September.

 

Builder confidence in the housing market rose to a 5-month high in October. However, builders still face increased material costs and labor shortages.
Housing starts were at a 1-year low in September, due to hurricanes disrupting construction. The storms are also blamed for a decline in building permits.
Housing market fundamentals, however, remain solid. Mortgage applications for home purchases were up 4% week-over-week, despite the holiday week.

 

My first job was being a diesel fitter at a pantyhose factory. As they came off the line, I would hold them up and say, “Yeah, deez-el fit her.”

 

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.