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Periodic Updates

Markets in a Minute | May 27, 2016

For the Week Ending May 27, 2016
Please enjoy this quick update on what happened this week in the housing and financial markets.

Reports on retail sales, housing and industrial production offer a favorable view of growth for Q2. Continued expansion supports a Fed rate increase.
This week’s jobless claims are lower than expected, further supporting growth. The strong labor market is a pillar of the improving economy.
Comments by Fed policymakers also point to a nearing Fed policy rate increase. Economists speculate we may see an increase as soon as June.

New home sales surged to an 8-year high in April, jumping 16.6%. Prices for new homes also hit a record high, as tight inventory continues to drive up prices.
Millennials aren’t just buying homes; they’re selling them too. NAR reports that the number of agents under 30 years old has increased from 2% to 5% since last year.
Pending home sales were up 5.1% in April, hitting the highest levels in a decade. Demand continues to soar, fueled by an improving economy and low rates.

All gave some, some gave all.
Thank you to all who serve and have served. As you enjoy your time with family and friends this weekend, please take a moment to remember those who gave their lives while serving in our military.


Now, to keep it fun, here’s a joke that those who have served may enjoy. 🙂


“Well,” snarled the tough old Navy Chief to the Seaman, “I suppose after you get discharged from the Navy, you’ll just be waiting for me to die so you can come and laugh at my grave.” “Not me, Chief!” the Seaman replied. “Once I get out of the Navy, I’m never going to stand in line again!”


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.

Is it too late to buy or sell a home in 2016?

Data is provided with rights for use by Estate of Mind, Inc.

Data is provided with rights for use by Estate of Mind, Inc.

The bottom line is this: The best time to buy or sell a home is when it’s best for your scenario. Please don’t think your opportunity has passed for 2016. Low interest rates make now a great time to be in the market as a buyer or seller because low costs to finance make higher price points more affordable.

When you or someone you care about is ready to make a move, we’ll be here and ready to help. Contact us here.