| For the Week Ending November 29, 2019 | |
| |
 | |
Please enjoy this quick update on what happened this week in the housing and financial markets. | |
 | |
 |
Economic growth picked up slightly in the 3rd quarter, though slowing was initially reported. A stronger pace of inventory accumulation and a more gradual decline in business investment contributed. |
|
October's new orders for key U.S.-made capital goods increased by the most in 9 months, suggesting some stabilization in business investment after 2 straight quarters of contraction. |
|
Consumer spending rose in October for the 8th month in a row, potentially a good sign for the holiday shopping season. |
 | |
|
Pending home sales decreased 1.7% in October from the prior month but did rise 3.9% from a year earlier, the second highest pace since 2016. |
|
3rd quarter home prices rose 4.9% over a year ago, the 33rd consecutive quarter of growth. Rising prices led the FHFA to raise the 2020 conforming loan limit by 5.38% to $510,400 (more in high cost areas). |
|
Over the last 2 months, buyers snapped up new homes at the fastest pace in more than 12 years, adding to signs of strong housing demand amid lower borrowing costs. |
 |
"Gratitude can transform common days into thanksgiving, turn routine jobs into joy and change ordinary opportunities into blessings." |
 |
Here is the Video version of this week's Markets in a Minute:
If you have any questions on the market, loan qualification, or just want to get started on your loan, click the button below to get started online, or give me a call at 866-900-2342 toll free direct.
