Mortgage News

The Markets in a Minute - January 13

For the Week Ending January 13, 2017 Wholesale inventories rose in November, slightly more than previously reported. The increase was the largest gain in 2 years and supports economic growth.Rising wages and expected tax cuts are expected to boost consumer spending and support economic growth through much of this year.A tighter labor market and anticipated improvements are expected to stoke inflation. Inflation could contribute to rising rates through 2017. Purchase mortgage applications were up 6% for the week as buyers head back to the housing market after the holidays. It also hel...

January 12th, 2017 The Markets in a Minute - January 13

The Markets in a Minute - January 6

For the Week Ending January 6, 2017 Despite the worst start to a year ever, U.S. stocks posted healthy gains in all three major indexes in 2016. Strong stock markets can pressure mortgage rates.Markets forecast the Fed will raise policy rates twice in 2017. However, the Fed expects to increase policy rates 3 times. Either way, looks like rates will rise.Minutes released from last month's Fed meeting show members are uncertain about how the Trump administration policies will affect economic growth. Freddie Mac released information showing that more than 80% of the top 100 housing ...

January 5th, 2017 The Markets in a Minute - January 6

The Markets in a Minute - December 30

For the Week Ending December 30, 2016   The markets are quiet this week as traders take the rest of the year off. Very little economic news for the week as the year winds down. The rise in oil prices stalled as U.S. inventories were higher than expected. Increasing oil prices could fuel inflation, which helps drive up interest rates. The labor market appears to be near full strength as jobless claims came in lower than expected. This is the 95th straight week claims were below 300,000. Home prices hit a new high in October, up 5.6% year-over-year. The housing mark...

December 30th, 2016 The Markets in a Minute - December 30