Rates creep up but demand remains strong

The markets In a minute

Markets In A Minute for week ending September 21, 2018: Rates creep up

Markets In A Minute
This week on The Markets In a Minute: Rates creep up, sales level off and more:

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The Markets In A Minute

The Economy

  • Mortgage rates crept up this week to the highest levels since May. Market indicators and analysis suggest they will not fall any time soon..
  • Consumer sentiment rose to a 17-year high last week. Confidence improved as consumers grow more optimistic about the economy and their personal finances.
  • The labor market also continues to show strength and is considered at or near full employment. Unemployment filings for last week fell to a near 49-year low.

Housing news by Laura Borja

  • Home builder sentiment rose unexpectedly in September to its strongest level in 11 months, prompted by renewed interest in purchases following a summer lull.
  • Housing starts rose in August, boosted by a jump in multifamily construction and a rise in single-family homebuilding. Building permits, however, fell slightly..
  • Existing home sales were unchanged in August, following 4 months of declines. Supply continues to be an issue, although demand remains strongg.

The Last Laugh

I just got a job as a senior director at Old McDonald’s Farm. I’m the CIEIO.

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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