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Tim Phelps

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The Markets in a Minute - February 3

For the Week Ending February 3, 2017 The Fed concluded the most recent FOMC meeting and announced there would be no policy rate increases. The next FOMC meeting is scheduled for March 14/15.Economic activity in manufacturing expanded in January, surpassing economists' expectations. Manufacturers grew at the fastest pace in more than 2 years.The Consumer Confidence Index dropped in January after reaching a 15-year high in December. Despite the slight drop, consumers remain confident overall. Construction spending was down slightly overall in December. However, spending on resident...

February 3rd, 2017 | markets-in-a-minute, The Markets in a Minute - February 3

The Markets in a Minute - January 27

For the Week Ending January 27, 2017 Equities are rallying. The Dow Jones got the most press this week when it hit a new high of 20,000. The S&P and the Nasdaq reached new highs as well.The Fed will meet next week, although it's not likely we'll see a policy rate increase right now. The Fed has said it will probably raise rates 3 times this year.However, mortgage rates are influenced by bond market movement and are not controlled directly by the Fed. Current economic growth could pressure mortgage rates higher. After 3 straight months of gains, new home sales were down sl...

January 26th, 2017 | markets-in-a-minute, The Markets in a Minute - January 27

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