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For the Week Ending April 14, 2017

Please enjoy this quick update on what happened this week in the housing and financial markets.

Picture of Mortgage Rates April 14 Picture of Rate Volatility April 14
Producer prices fell in March for the first time in 7 months, possibly signaling inflation will be more gradual. Inflation pressures mortgage rates to move higher.
Trump’s comments this week that the dollar may be too strong had an immediate effect on trading. Stocks suffered and bonds rallied, which supported lower rates.
Concerns that stock values are too high could help bring about lower rates. The Volatility Index is at its highest level since just after the November election.
Soon, fewer new borrowers may struggle with a down payment. A new survey from Freddie Mac shows 41% of renters now have more money left over after payday.
Average mortgage rates dipped nationally last week, and mortgage applications increased. Purchase applications were up 5% over the previous week.
The average tax refund was $2,860 last year, and 41% of Americans plan to save this year’s. That savings could help them on the path to homeownership.
One cigarette shortens your life by two hours, one bottle of vodka by three hours, and a mortgage application by 2 days.

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.

  1. Existing home sales hit a 10-year high in this week’s Markets in a Minute! »
  2. Fed rate hike looming in this week’s Markets in a Minute! »
  3. New all-time highs for housing confidence in this week’s Markets in a Minute! »