|For the Week Ending December 19, 2019|
Please enjoy this quick update on what happened this week in the housing and financial markets.
|A phase one trade deal with China was announced late last week and is expected to be signed in January. Trade talk headlines have caused volatility in mortgage rates.|
|Manufacturing data this week points to increased orders, shipments and work hours for employees. Easing trade tensions likely support a turnaround in manufacturing.|
|Jobless claims dropped from a 2-year high last week, pointing to sustained labor market strength. Claims remain near the lowest levels in about a half century.|
|Housing starts increased more than expected in November, and permits for future construction hit a 12-1/2-year high. Housing starts jumped 13.6% year-over-year.|
|Despite inventory shortages in some areas and an unexpected dip in November, existing home sales still rose 2.7% from a year ago.|
|Seniors who own a home saw housing wealth grow by 0.3% in the 3rd qtr, equating to $24 billion. The increase brought senior housing wealth to a record high of $7.19 trillion.|
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Here is the Video version of this week's Markets in a Minute:
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