|For the Week Ending December 12, 2019|
Please enjoy this quick update on what happened this week in the housing and financial markets.
|The Fed kept policy rates unchanged at this week's FOMC meeting and also signaled that rates are unlikely to change in 2020 with moderate economic growth.|
|Consumer prices increased more than expected in November, mainly due to higher gas costs. Price increases drive inflation, which pressures mortgage rates higher.|
|Stocks continue to hit record highs as a phase one trade deal with China seems to be moving closer to completion. If not postponed, more tariffs take effect Dec 15th.|
|Builders continue to move away from basements. A recent survey shows 60% of new single family homes in 2018 were built on slab foundations and 14% with a crawl space.|
|Sustainable features are the latest trend to attract buyers. Favorites include low-flow toilets and showerheads; multipane windows; and electric charging stations.|
|First-time buyers are on the rise, up from a year ago. FTBs comprised 39% of all single family home buyers and 55% of purchase mortgages in the 3rd quarter.|
"Winter, a lingering season, is a time to gather golden moments, embark upon a sentimental journey, and enjoy every idle hour."
Here is the Video version of this week's Markets in a Minute:
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