What’s up with the rate bounce?

Markets In a Minute Update

Markets In A Minute for week ending April 5, 2019: What’s up with the rate bounce?

Markets In A Minute
This week on The Markets In a Minute: Rates bounce, sales drop and homes sell fast.
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Mortgage Rate bounce Higher 1 Volatility mid-1

The Economy

  • Signaling a possible slowdown in the economy, retail sales dropped 0.2% in February. Slower economic activity is likely to keep the Fed from raising rates.
  • We saw a rate bounce after the recent lows this week. The market often moderates this way following a quick drop.
  • Talks with China for a new trade deal continue to progress. When a new deal is completed, it could help push stocks higher and boost consumer confidence.

Housing news by Laura Borja

  • New home sales rose to an 11-month high in February, suggesting lower mortgage rates were providing further lift to the housing market.
  • Construction spending also hit a 9-month high in February, increasing for the 3rd straight month. The strong gains are a good sign for the housing market.
  • According to NAR, 32% of homes sold in February were on the market for less than a month. The median existing-home price for February was $249,500.

“Don’t let yesterday take up too much of today.”
-Will Rogers

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?

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