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Markets in a Minute

Markets in a Minute – 4/21/2017

For the Week Ending April 21, 2017
 

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

 

March’s Consumer Price Index, which measures inflation at the consumer level, declined 0.3% on a year-over-year basis. Decreasing inflation is good for rates.
While jobless claims were up slightly this week, the total number of people collecting unemployment benefits dropped to the lowest level in 17 years.
The Fed meets again in May to decide about rate policy. An increase is not likely at this time; however, two more increases are expected this year.

 

Housing starts were down 6.8% in March, but February’s numbers were corrected higher. The drop is largely blamed on poor weather and winter storms.
Pointing to underlying strength in the housing market, building permits increased 3.6% in March. Multi-family home permits surged 13.8% from February.
Homebuilders continue to be optimistic heading into the spring, with the NAHB index at 68. High demand for new construction homes continues.

 

I bought one of those courses that teaches you Spanish in your sleep. During the night the CD skipped. Now I can only stutter in Spanish.

 

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 14, 2017

For the Week Ending April 14, 2017
 

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

 

 

Producer prices fell in March for the first time in 7 months, possibly signaling inflation will be more gradual. Inflation pressures mortgage rates to move higher.
Trump’s comments this week that the dollar may be too strong had an immediate effect on trading. Stocks suffered and bonds rallied, which supported lower rates.
Concerns that stock values are too high could help bring about lower rates. The Volatility Index is at its highest level since just after the November election.

 

Soon, fewer new borrowers may struggle with a down payment. A new survey from Freddie Mac shows 41% of renters now have more money left over after payday.
Average mortgage rates dipped nationally last week, and mortgage applications increased. Purchase applications were up 5% over the previous week.
The average tax refund was $2,860 last year, and 41% of Americans plan to save this year’s. That savings could help them on the path to homeownership.

 

One cigarette shortens your life by two hours, one bottle of vodka by three hours, and a mortgage application by 2 days.

 

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.