Here is a quick update on what is happened over the last week in the housing and financial market. Please let me know if you have any questions.
- The labor market improved as fewer Americans filed for weekly unemployment benefits. This adds to speculation that the Fed may raise the policy rates this month.
- Inflation pressure continues to be weak as import prices continued to drop.
- Global economies remained weak. Mortgage rates have remained stable while the markets wait for a Fed decision
- More respondents of Fannie Mae's Home Purchase Sentiment Index thing it is a good time to buy a new home. Low mortgage rates are helping to build that confidence.
- New home sales are up by more than 20% from last year. We should see a continued upswing in new home builds as the the resale market shrinks.
Market trends and conditions can change quickly. For the most current information please contact me.