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Markets in a Minute

Markets in a Minute | January 26, 2018

 

 

The government shutdown had a nominal effect on markets and no effect on rates. Another shutdown is possible February 8th, the new deadline for a deal.
The dollar slumped this week, its biggest weekly decline in 18 months. Treasury Secretary Steven Mnuchin says a weaker dollar could boost U.S. trade though.
Jobless claims were up from last week’s 45-year low, but still lower than expected. The labor market continues to tighten with near full employment.

 

Existing home sales were down 3.6% in December from November, but were up 1.1% year-over-year. A lack of supply of homes on the market played a role.
New home sales were also down in December, blamed partly on unseasonably cold temperatures. However, new home sales were 14% higher than a year ago.
Rising mortgage rates have spurred more buyers off their couches and into the market. Mortgage applications were up 4.5% over last week, 6.1% over last year.

 

To steal ideas from one person is plagiarism. To steal from many is research.

 

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 | January 19, 2018

 

 

Jobless claims plunged to the lowest level since 1973 this week, the biggest drop since April 2009. Labor market strength can pressure rates higher.
According to a recently released Fed report, the economy and inflation expanded at a modest-to-moderate pace from November to the end of 2017.
Inflation, which pressures interest rates to move higher, is not increasing across the U.S. consistently. West coast metro areas are showing higher inflation.

 

Although homebuilder confidence was down slightly in January, it’s still strong. Builders’ biggest concerns remain costs of material and labor shortages.
New housing starts fell more than expected in December. However, the moderation is likely to be temporary amid strong demand for housing.
Mortgage purchase applications jumped 4.1% last week, and volume rose 5.6% over last year. Speculation is that consumers fear rates may be increasing.

 

The early bird may get the worm, but the second mouse gets the cheese in the trap.

 

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.