Tidewater Home Funding Blog

The Markets in a Minute - February 10

February 9th, 2017

For the Week Ending February 10, 2017

 

Gallup reports its Economic Confidence Index hit a new high in January, reaching its highest monthly average in 9 years. 
The labor market continues to show strength, with jobless claims hitting a 43-year low this week and a strong showing for non-farm payrolls last week.
Despite the strong economy, inflation is still lagging. As long as inflation remains low, there's less pressure for rates to rise.

 

The positive economic sentiment by Americans is trickling over to housing market attitudes. Over 29% of those surveyed said it was a good time to buy.
Also, over 69% of those surveyed by Fannie Mae said they were not concerned with losing their jobs. Forty-two percent expect home prices to continue rising.
It pays to shop in the snow. According to an analysis of roughly 50 million home sales between 2000 and 2016, February was the most affordable month to buy.

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.