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Markets in a Minute – 7/25/2014

For the Week Ending July 25, 2014
 

Please enjoy this quick update on what’s happening this week in the housing and financial markets.


June’s Consumer Price Index shows an increase of 2.1%, the same as last year. Continued low inflation could delay the Fed’s anticipated mid-2015 rate hike.
After rate-friendly geo-political tensions spurred some improvement, Thursday’s jobless claims fell to eight-year lows and could reverse the trend.
Next week could see more volatility than recent weeks. Look for initial 2nd quarter GDP numbers, a Fed announcement and a monthly employment report.

New home sales fell to a 406K annual rate. Yet the much larger existing homes sales figure just rose to an eight-month high cresting 5MM per year. 
The number of existing homes on the market is at its highest level in almost two years. This may temper appreciation but may also contribute to more sales.
Veterans are boosting the home market and using their entitlements to do so. The VA loan program’s share of mortgages is at a 20-year high.

Schneider applied to a Wisconsin finance agency for a job, but he had no experience.

He was so intense that the manager gave him a tough account with the promise that if he collected it, he’d get the job.

Two hours later, Schneider came back with the entire amount.

“Amazing!” the manager said. “How did you do it?”

“Easy,” Schneider replied.

“I told him if he didn’t pay up, I’d tell all his other creditors that he paid us.”

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.