Is Homeownership Still The American Dream?

Markets In a Minute Update

Markets In A Minute for week ending March 8, 2019: Is Homeownership still the American Dream?

Markets In A Minute
This week on The Markets In a Minute: Is Homeownership still the American Dream? How did home sales do?
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Mortgage rates neutral Interest Rate Volatility

The Economy

  • A U.S./China trade deal may be close, after months of trade disputes. If a deal is signed, it could put some pressure on rates, as stocks may rally on the news.
  • The ECB statement this week reinforced concerns about a global economic slowdown. Weak global economies have helped to keep rates low here at home.
  • Private payrolls were up 183,000 in February, according to ADP. Unemployment claims last week were down, pointing to strong labor market conditions

Housing news by Laura Borja

  • Construction spending unexpectedly fell in December, after an increase in November. Only part of the drop was for private residential projects though.
  • New home sales hit a 7-month high in December, the highest level since May 2018. Mortgage rates are hovering near a 12-month low.
  • A recent survey showed over 79% of Americans still believe that homeownership is a vital component to achieving the American Dream.

“Yesterday is not ours to recover, but tomorrow is ours to win or lose.”

–Lyndon B. Johnson

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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