Mortgage News

The Markets in a Minute - April 7

April 6th, 2017

For the Week Ending April 7, 2017

 

Economic activity in the manufacturing sector expanded in March for the 94th consecutive month. The non-manufacturing sector also grew, for the 87th month.
Another sign of the improving economy is the strong labor market. This week's jobs data has continued to show new job growth and low unemployment.
Minutes from the last Fed meeting show they're looking to reduce asset holdings. The Fed currently holds over $4 trillion in Treasuries and mortgage securities.

 

Home prices appreciated by 1% in February and 7% year-over-year. CoreLogic forecasts home prices will rise by 4.7% in the year going forward.
Newly built homes have gotten pricier over the last 10 years, with most homes selling above $250,000. Builders blame regulatory burdens for the increases.
The most recentCensus Bureau stats show townhomes as the fastest growing segment of the single-family housing construction market, with a 17.8% surge. 

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.

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