Blog


 

Consumer prices increased in February due to higher gasoline prices, yet underlying inflation remained tepid, helping ease fears that have been pushing rates higher.

Treasury yields dipped this week after a key 10yr Treasury auction showed enough demand to stave off investor fears. This also relieved upward pressure on rates.

Jobless claims hit their lowest level since November as states eased business restrictions and more people returned to work. Continuing claims dropped for the week, too.

 

 

Last week's purchase applications were 2% higher than a year ago, but refinance apps fell 43% below last year's level due to the rate increases.

Home remodeling has surged since the pandemic began, with small projects leading the trend initially. Now, more homeowners are undertaking larger renovations.

Ohio Rep. Marcia Fudge was confirmed Wednesday as the new secretary of HUD. Fudge is known as a champion of affordable housing and urban revitalization among other initiatives.