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

• The Fed kept policy rates unchanged at this week's FOMC meeting and also signaled that rates are unlikely to change in 2020 with moderate economic growth.
• Consumer prices increased more than expected in November, mainly due to higher gas costs. Price increases drive inflation, which pressures mortgage rates higher.
• Stocks continue to hit record highs as a phase one trade deal with China seems to be moving closer to completion. If not postponed, more tariffs take effect Dec 15th.

• Builders continue to move away from basements. A recent survey shows 60% of new single-family homes in 2018 were built on slab foundations and 14% with a crawl space.
• Sustainable features are the latest trend to attract buyers. Favorites include low-flow toilets and showerheads; multipane windows; and electric charging stations.
• First-time buyers are on the rise, up from a year ago. FTB's comprised 39% of all single-family home buyers and 55% of purchase mortgages in the 3rd quarter.