Economic Market News

Feds Hike Rates

Markets In a Minute Update

Markets In A Minute for week ending Dec 21, 2018: Fed hikes rates, what happened to mortgage rates

Markets In A Minute
This week on The Markets In a Minute: Feds hike rates, says less hikes in 2019.
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Economic Market Update mortgage rates improved

Mortgage Rates Interest Rate Volatility

The Economy

  • The Feds hiked rates this week, but lowered the number of expected rate increases for 2019. Mortgage rates were basically unaffected by this rate hike.
  • Stocks have been routed and fears over a slowing economy have taken over. As investors seek safety in bonds, this has helped mortgage rates improve.
  • The labor market remains strong though, as jobless claims were only up slightly from the previous week’s near 49-year low. Claims were at 214,000 for last week..

Housing news by Laura Borja

  • Home builder confidence was down slightly in December from November. But indications are still that more builders view sales conditions as good than poor.
  • New home starts rebounded in November, driven by a surge in multi-family housing. However, single-family housing starts were down to a 1-1/2 year low.
  • Existing home sales rose unexpectedly in November. Although sales are down 2.3% in the first 11 months over last year, they’ve increased for 2 months in a row.

“Life is 10% what happens to you and 90% how you react to it.”

–Charles R. Swindoll

Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time.

Wondering how changing interest rates and home prices might affect your budget?

Find out with this interactive calculator:   https://mtg.expert/rtpricecalc

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