Blog
Greenway's Markets in a Minute | New Home Inventory Finally Rises By 1.5 Percent
Aug 25
11:59
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Category | Markets in a Minute
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| For the Week Ending August 25, 2017 |
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Please enjoy this quick update on what happened this week in the housing and financial markets. |
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Central bankers from around the world are meeting this week for the Jackson Hole Symposium. Markets will be looking for signs of imminent policy changes. |
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Very little economic news this week along with low trading volume has left markets quiet. This environment has helped to keep mortgage rates stable. |
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Despite labor market strength, low inflation remains a concern. Speculation is the Fed cannot raise rates again this year unless inflation rises to around 2%. |
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New home sales were unexpectedly lower for July, down 9.4% from June. July's sales were a 7-month low and caused some concerns about the housing market. |
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However, before anyone panics, it should be noted that May and June numbers were revised higher. Median new home prices were up 6.3% over last year. |
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Inventory of new homes rose 1.5% last month, the highest level since June 2009. Even still, a shortage of new and existing home inventory remains an issue. |
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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. |
Greenway's Markets in a Minute | No New Policy Rate Increases
Feb 3
10:18
AM
Category | Markets in a Minute
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| For the Week Ending February 3, 2017 |
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Please enjoy this quick update on what happened this week in the housing and financial markets. |
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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. |
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Economic activity in manufacturing expanded in January, surpassing economists' expectations. Manufacturers grew at the fastest pace in more than 2 years. |
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The Consumer Confidence Index dropped in January after reaching a 15-year high in December. Despite the slight drop, consumers remain confident overall. |
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Construction spending was down slightly overall in December. However, spending on residential structures was up 0.5%. |
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Despite an increase in mortgage rates, pending home sales rose 1.6% in December compared to November. Sales were up 0.3% year-over-year. |
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Home prices continue to rise, up 5.6% in November according to Case-Shiller. Increases are supported by rising personal income & decreasing unemployment. |
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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. |
