Mortgage News

The Markets in a Minute - February 24

 Although markets were closed on Monday for Presidents' Day, stocks once again hit new highs this week as traders expect the economy to continue improving.Unemployment filings continue to reflect labor market strength. Although up slightly this week, jobless claims have the lowest 4-week average since 1973.The minutes from last month's FOMC meeting show the Fed could be looking to raise policy rates soon. The decision will depend on data for jobs and inflation. Existing home sales surged to a 10-year high in January. Demand remains strong as buyers shrug off increasing prices...

February 23rd, 2017 | markets-in-a-minute, The Markets in a Minute - February 24

The Markets in a Minute - February 17

For the Week Ending February 17, 2017 Consumer prices increased in January by the highest level since February 2013, signaling rising inflation. Inflation could pressure mortgage rates higher.Jobless claims this week came in even lower than expected, signaling strength in the labor market. A strong labor market could encourage the Fed to raise rates.In testimony to Congress, Fed Chair Janet Yellen commented that the Fed would be "unwise" to let the economy heat up too quickly and may raise rates soon. January housing starts were down slightly. However, overall construction ...

February 17th, 2017 | markets-in-a-minute, The Markets in a Minute - February 17

The Markets in a Minute - February 10

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 tim...

February 9th, 2017 | markets-in-a-minute, The Markets in a Minute - February 10

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