Get Adobe Flash player

Archives

Periodic Updates

Markets in a Minute | August 5, 2016

For the Week Ending August 5, 2016
 

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

Jobless claims were once again below 300,000, signaling a healthy labor market. Labor market strength contributes to more spending on goods and services.
Consumer spending rose in June, suggesting a strengthening economy. Personal consumption accounts for more than two-thirds of U.S. economic activity.
Despite healthy consumer spending, the Commerce Department showed inflation is still muted. Lack of inflation helps to keep interest rates low. 

Construction spending on single-family homes was down slightly in June but up 4.8% over last year. June also saw increased spending on home improvements.
A new trend in kitchen design is to use mixed colors in cabinetry and countertops. A recent survey found 42% of remodelers used multiple colors.
Home price reports show nationwide prices up 5.7% year-over-year in June. Prices are expected to continue to increase at a healthy rate for the next year.

“Do you believe in life after death?” the boss asked one of his employees.

“Yes, Sir.” the employee replied.

“Well, then, that makes everything just fine,” the boss went on. “After you left early yesterday to go to your grandmother’s funeral, she stopped in to see you.”

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 | July 8, 2016

For the Week Ending July 8, 2016
 

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

U.S. stock markets have fully recovered after huge losses following Britain’s vote to leave the EU. Markets don’t believe a Fed rate increase is possible this year.
Fed minutes from last month’s FOMC meeting show the Fed was concerned about a possible Brexit. Global turmoil means the Fed is unlikely to raise rates.
A strong labor market is supporting the housing market. This week there was an increase in private payrolls and decrease in unemployment benefit claims.

Mortgage applications were up 14% on falling rates last week. While many were for refinances, purchase applications were 23% higher year-over-year.
Purchase applications could have been higher, according to experts. Lack of inventory plagues many markets, but has helped drive home prices back up.
Inventory concerns are not only for the purchase market. Rental demand has increased across all age groups and income types, creating a supply imbalance.

Rupert, the salesman, was demonstrating unbreakable combs in a department store. He was impressing the people who stopped to look by putting the comb through all sorts of torture and stress. Finally to impress even the skeptics in the crowd, Rupert bent the comb completely in half, and it snapped with a loud crack. Without missing a beat, he bravely held up both halves of the ‘unbreakable’ comb for everyone to see and calmly said, “And this, ladies and gentlemen, is what an unbreakable comb looks like on the inside!”

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.