Mortgage Rates Improved As Stocks Tumbled

Markets In a Minute Update

Markets In A Minute for week ending Dec 7, 2018: Mortgage rates improved as stocks tumbled

Markets In A Minute
This week on The Markets In a Minute: Mortgage rates improved as stocks tumbled, is the economy cooling off?.
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Economic Market Update mortgage rates improved

Mortgage Rates Interest Rate Volatility

The Economy

  • The yield on 5-year Treasury bonds slipped below the rate on 2-year Treasuries, called an ‘inversion.’ Inverted yield curves could be a sign of a future recession.
  • Mortgage rates improved this week as stocks tumbled and bonds rallied. Concerns the economy is cooling off could help rates continue to improve
  • The trade deficit widened more than forecast in October to the highest in a decade. This underscores continued fallout from the China-U.S. trade dispute

Housing news by Laura Borja

  • CoreLogic reports homeowners with negative equity declined by 81,000 in the 3rd quarter. The average homeowner gained $12,400 in home equity year over year.
  • Luxury home builder Toll Brothers reported its first decline in quarterly orders in more than 4 years. It’s thought rising interest rates and home prices were to blames
  • Buyers are spending more time trying to find the perfect home, often 3 months or longer. However, most buyers say they refuse to give up and will keep looking.

The Last Laugh

“In crucial things, unity. In important things, diversity. In all things, generosity.”

— George H.W. Bush

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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