|For the Week Ending February 17, 2017
Please enjoy this quick update on what happened this week in the housing and financial markets.
|Consumer prices increased in January by the highest level since February 2013, signaling rising inflation. Inflation could pressure mortgage rates higher.|
|Jobless claims this week came in even lower than expected, signaling strength in the labor market. A strong labor market could encourage the Fed to raise rates.|
|In testimony to Congress, Fed Chair Janet Yellen commented that the Fed would be “unwise” to let the economy heat up too quickly and may raise rates soon.|
|January housing starts were down slightly. However, overall construction of single-family homes increased for the first time in 3 months.|
|Housing permits also increased in January, up 4.6%. The rise in permits means housing start numbers should improve, too.|
|Home builders remain confident about the 2017 housing market. A national survey shows confidence among builders at its highest since 2005.|
|A bear walks into a restaurant and says, “I want a grilled………………………..cheese.” The waiter says, “What’s with the pause?” The bear replies, “Whaddya mean? I’M A BEAR!”|
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.