June 22, 2017 : Trade concerns affect interest rates
This week’s Markets In A Minute fills us in on how trade concerns affect interest rates, jobless claims, new home builder stats and more.
- Tariffs imposed by President Trump have elicited retaliation from countries around the globe. Trade concerns affect interest rates in a positive way by keeping them steady.
- Fed Chair Powell recently confirmed the case for continuing to raise interest rates remains “strong.” He cited solid economic growth and full employment.
- Jobless claims have fallen for the 4th straight week. Employers are increasingly reporting labor shortages, which are likely to lead to wage growth and inflation
- Home builders are excited by strong demand for housing. However, they are frustrated with labor shortages and rising costs for lumber.
- New housing starts surged to an 11-year high of 1.35 million in May. Both single-family and multi-family home construction increased.
- Existing home sales fell last month, as a shortage of properties pushed prices to a record high. At May’s sales pace, unsold inventory is at a 4.1-month supply.
|Knowledge is knowing a tomato is a fruit; wisdom is not putting it in a fruit salad.|
|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://mysdlender.com/24t7psI
Ready to get started with the loan approval process?Get Pre-Approved