It’s time for your weekly look at what’s happening with rate movement, the economy, and the housing market. Watch to the end for a quick smile.
The Economy
Producer prices fell for a 2nd straight month in January, leading to the smallest annual increase in 1-1/2 years. Low or absent inflationary pressure is good for interest rates.
Retail sales recorded their biggest drop in 9+ years in December as receipts fell across the board, suggesting a slowdown in economic activity at the end of 2018.
Jobless claims rose last week, pushing the 4-week moving average of claims to its highest level in just over a year & suggeesting some moderation in job growth.
Housing News
Most markets across the country are still seeing home prices inch up, although at a slower pace than in previous quarters. The national median price is $257,600.
The home theater is moving out of the basement and into the main living area. Home theaters are being replaced by comfy, cozy multifunctional media rooms.
A new report shows that only 13% of offers written by agents for their clients faced a bidding war last month – down significantly from 53% a year ago.
See you again next week!
**Rate movements and volatility are based on published, aggregated national averages and measured from the previous to the most recent mid-week daily reporting period. These rate trends can differ from our own and are subject to change at any time.
