Markets In A Minute for week ending April 12, 2019: Good feelings about the housing market
- The consumer price index rose less than forecast in March. A key measure of inflation, this reading supports the Fed’s decision not to raise rates this year.
- Producer prices increased by the most in 5 months in March. However, underlying prices remained soft, an indication of tame inflationary pressures.
- Jobless claims fell to a 49-1/2-year low last week. Sustained labor market strength could help temper concerns of an economic slowdown.
- Although down from January, construction job openings were higher year-over-year in February, highlighting the challenge of labor availability for builders.
- Housing sentiment surged in March, with sellers the most optimistic about the housing market. Consumers who say it’s a good time to sell increased 13% from February, up 4% from 2018.
- CoreLogic says mortgage delinquencies in January were the lowest for that month in 20 years. Serious delinquencies dropped to 1.4% from 2.1% in 2018
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|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.|
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