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Markets in a Minute

Markets in a Minute | May 5, 2017

For the Week Ending May 5, 2017
 

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

 

 

The Fed left rates unchanged at May’s FOMC meeting but expressed faith in the strength of the economy. Markets now anticipate a June increase to be likely.
Recent jobs data supports the view of a strong labor market. Unemployment hit a 17-year low, and a tightening labor market could support a Fed rate increase.
Manufacturing, which accounts for about 12% of the economy, continues to recover. Factory orders were up 5.2% from a year ago.

 

A strong housing market has NAR raising their forecasts. Existing home sales are now expected to rise by 3.5%, and home prices likely will increase 5% this year.
Housing starts have been in gradual recovery mode the last few years. In 2016, starts were at 1.23 million units.
Homes with a view can sure fetch a premium. Some cities like NY and San Francisco boast a price increase of 39% to over 200% for properties with a view.

 

I got fired at work today. My boss said my communication skills were awful.

I didn’t know what to say to that.

 

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 | April 28, 2017

For the Week Ending April 28, 2017
 

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

 

 

Political concerns in France had recently driven global investors to seek safety in bonds, helping rates. Fears have eased though, which is slightly worse for rates.
Trump released his proposed tax cuts this week but was short on details. Investors are concerned about the vagueness, which has helped rates.
Durable goods data is a bit mixed but still supports a growing economy. Jobless claims’ four-week average is at a two-month low, indicating a strong labor market.

 

Pending home sales were down slightly in March, a byproduct of continuing low inventory and high demand.
The national home price index jumped 5.8% in February, according to a Case-Shiller survey. This is the biggest increase in nearly 3 years.
Sales of new single-family homes rose for the 3rd consecutive month in March. The numbers were the 2nd highest on record since the Great Recession.

 

With a calendar, your days are numbered.

 

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.