Weekly What’s Happening – February 14, 2019

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.

Washington Mortgage Lender - Weekly What's Happening - Feb. 7, 2019

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.

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