Mortgage News

The Markets in a Minute - October 21

October 21st, 2016

For the Week Ending October 21, 2016
 

 

 

Consumer prices rose in September, suggesting an increase in inflation that could keep the Fed on track for raising policy rates in December.
 
September's retail sales numbers offer another sign of an improving economy. Retail sales rose 0.6% in September and have increased 2.9% for the year.
 
The Fed will also look at employment when making a decision to raise policy rates, and this week's jobless claims showed the labor market remains strong.
 

In a sign that the housing recovery continues, a recent index showed home builder confidence at its second highest level of the year.
 
In another sign of housing market strength, single-family home starts surged in September. Groundbreakings jumped 8.1% to the highest level since February.
 
Despite a tight supply, existing home sales rebounded in September to rise 3.2%. Median prices of existing homes were up to $234,200, a 5.6% annual increase.

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.