Please enjoy this quick update on what happened this week in the housing and financial markets.
Recent economic data points to a stable and growing economy. Comments from Fed officials have markets anticipating the Fed will raise policy rates this month.
The ECB has increased actions to stimulate the European economy. European economic weakness is not expected to prevent a Fed policy rate hike this month.
Jobless claims continue to remain at levels consistent with a strengthening labor market. A strong labor market could contribute to the Fed's decision to raise rates.
Private residential construction spending continues to rise, hitting the highest level in 8 years. Construction spending has now risen every month this year.
New home sales were up significantly in October over September, and up year-over-year. Prices are also up, and supply remains tight but steady.
Pending home sales were up slightly in October after falling the two previous months. Homes continue to sell quickly.
Where does a snowman keep his money?
In a snow bank.
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.
Rodney Long
Mortgage Investors Group
Loan Officer Assistant
NMLS #411959; TN Lic #126825; GA Lic #47508
(423) 899-2887 x 303
rodney.long@migonline.com
www.migonline.com/rodney.long
Terry Barnette
REALTOR, Broker, ABR, SFR, BPOR, e-Pro
Crye-Leike REALTORS
Office: 423-473-9545x217
Direct/Text: 423-463-0024
TheBarnetteTeam.com
KM4HDV
licensed in Tennessee
