The State of the Economy & Housing News for the week ending 12/11/15
Jobless claims were up slightly last week, but still showing healthy labor market conditions. A strong market could support a Fed policy rate increase next week.
Wholesale inventories fell slightly and could be a drag on fourth quarter GDP. The dip is not expected to factor in to a Fed rate hike decision next week though.
If the Fed does raise policy rates next week as expected, not all rates will suffer. Long term rates like mortgage rates will not necessarily increase.
Foreclosures decreased by 12.3% in October to the lowest rate since November 2007. Foreclosure inventory has declined by 21.5% over the last 12 months.
Surveyed consumers showed optimism for next year's real estate market. Over 38% believe home prices will continue to rise in 2016.
Investors in rentals continue to bet that there will be a strong demand in the rental market. The number of single family rental homes has increased 35% since 2006.
Dear Santa,
This year I'm requesting a fat bank account and a slim body.
P.S. Please don't mix them up like you did last year!
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