Mortgage Knowledge

When is the next rate hike?

Markets In a Minute Update

Markets In A Minute for week ending Oct 19, 2018:When is the next rate hike?

Markets In A Minute
This week on The Markets In a Minute: Next rate hike, jobless claims and more.
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Economic Market Update

Rate Hike Interest Rate Volatility

The Economy

  • Minutes from last month’s Fed FOMC meeting showed officials broadly agreed on raising interest rates further. The next anticipated rate hike is in December.
  • Retail sales rose slightly in September. Consumer spending ended the 3rd quarter with strong momentum and should boost further economic growth.
  • Jobless claims dropped last week, suggesting a further tightening in the labor market. Americans on jobless rolls fell to the lowest levels seen since 1973.

Housing news by Laura Borja

  • Homebuilder sentiment improved in October as lumber prices fell. Builders still struggle with labor shortages but are generally optimistic..
  • Housing starts fell slightly more than expected in September. However, most of the drop is in the South and is likely due to Hurricane Florence.
  • Mortgage applications continued to drop from the previous week, though purchase applications were still 2.5% higher year-over-year.

The Last Laugh

Last week I quit my job at the helium gas factory. I simply refuse to be talked to in that tone of voice.

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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