July 6, 2017 : Tariffs talk affect interest rates
This week’s Markets In A Minute fills us in on how tariffs talk affect interest rates, jobless claims, construction stats and more.
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- Manufacturing activity surged in June, as companies accelerated production in advance of expected tariffs
- Stocks continue to suffer as concerns remain about the effect of tariffs on trading. There was also apprehension about a trade war which isn’t helping mortgage rates much either.
- The labor market appears to be near full strength, even as weekly jobless claims were up last week. The jobless rate is at an 18-year low of 3.8%.
- Overall construction spending was up 4.5% year-over-year in June and 0.4% over May. For residential construction, spending was up 0.8%
- Single-family home construction spending was up 8.2% in June over the previous year. Multi-family housing spending was also up 4.2% year-over-year..
- Single-family home construction spending was up 8.2% in June over the previous year. Multi-family housing spending was also up 4.2% year-over-year.
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| I used to be a mortgage banker, but then I lost interest. |
| 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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