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Markets in a Minute

Markets in a Minute | April 6, 2018

  

 

 

Factory activity slowed in March, but growth in the manufacturing sector is still going strong. More companies showed signs of expanding than shrinking.
Tariffs on goods from China continued to dominate the headlines this week. Trade war concerns have helped keep mortgage rates from rising.
Jobless claims were up on the week, but jobless rolls fell to the lowest level since 1973. A tightening labor market could boost wage growth, leading to inflation.

 

Construction spending was up in February after being unchanged in January. Spending on private residential projects increased 0.7%, after falling in January.
Home buyers are blowing their budgets to snag their dream houses as prices rise. A third of buyers spent an average of $16k more than they planned.
Rising home prices may keep some out of the market. A recent Freddie Mac survey finds 67% of current renters view renting as more affordable than owning.

 

Optimist: The glass is half full.

Pessimist: The glass is half empty.

Mother: Why didn’t you use a coaster?

 

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 | March 30, 2018

  

 

Although a short week for markets, there was lots of economic data to digest. The week overall was positive for rates, helping to rebound from recent highs.
Consumer spending rose marginally for the 2nd straight month in February. The PCE data suggests a moderation in inflation after prices pushed higher in Jan.
The labor market appears to be near full strength as jobless claims came in lower than expected. This is the 95th straight week claims were below 300,000.

 

New home sales were down in February but are trending up. Although down month-over-month, February’s numbers were 0.5% higher than a year ago.
Rates have stabilized, and loan applications increased 4.8% last week. Purchase apps increased 3.1% week-over-week and were 8.2% higher than a year ago.
Pending home sales were up 3.1% in February, although down slightly from last year. Demand remains strong, but inventory levels continue to be an issue.

 

Can February March? No, but April May!

 

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.