A Quick Overview of this week's Market & Housing
Fed minutes show that members think the economy can handle a policy rate increase. Over 70% of economists now think the Fed will hike rates in December.
Markets have already started preparing for a Fed policy rate increase in December, contributing to recent mortgage rate increases.
Weakness in retail sales and producer prices make it unlikely that inflation will rise significantly. Low inflation can help mitigate a trend toward rising rates.
Housing starts were down in October due to a decline in apartment construction. Overall though, the trend in housing starts has been steadily improving.
Highlighting the housing market's strength, building permits were up 4.1%. Permit activity portends more supply and healthy construction spending.
Homebuilders continue to remain upbeat about the market and outlook for real estate. Strong demand and limited inventory make new homes essential.
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