Industry Updates

 

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For the Week Ending April 28, 2016

Please enjoy this quick update on what’s happening this week in the housing and financial markets.

Mortgage Rates: MediumRate Volatility: Low

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  • Political concerns in France had recently driven global investors to seek safety in bonds, helping rates. Fears have eased though, which is slightly worse for rates.
  • Trump released his proposed tax cuts this week but was short on details. Investors are concerned about the vagueness, which has helped rates.
  • Durable goods data is a bit mixed but still supports a growing economy. Jobless claims’ four-week average is at a two-month low, indicating a strong labor market.

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  • Pending home sales were down slightly in March, a byproduct of continuing low inventory and high demand.
  • The national home price index jumped 5.8% in February, according to a Case-Shiller survey. This is the biggest increase in nearly 3 years.
  • Sales of new single-family homes rose for the 3rd consecutive month in March. The numbers were the 2nd highest on record since the Great Recession.

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With a calendar, your days are numbered.


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.