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Markets in a Minute | August 19, 2016

For the Week Ending August 19, 2016
Please enjoy this quick update on what happened this week in the housing and financial markets.

Minutes released from last month’s FOMC meeting show the Fed is divided on the need to raise rates. Ultimately they agreed to monitor economic conditions further.
Consumer prices in July were unchanged from June, indicating no inflation. Without inflation, the Fed will typically hesitate in raising policy rates.
However, jobless claims fell more than expected this week, reinforcing views of labor market strength that could encourage the Fed to raise policy rates sooner.

Mortgage applications for home purchases were down slightly for the week but were 10% higher than the same week a year ago. Mortgage rates remain low.
Housing starts climbed to the highest level since February, with a slight increase in single-family homes. Homebuilders appear optimistic that sales will continue to rise.
Multi-family home construction should continue to increase. Building permits issued for multi-family homes rose 6.3% to a 441,000-unit pace in July.

A police recruit was asked during the exam, “What would you do if you had to arrest your own mother?”

He said, “Call for backup!”

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 | 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.