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  • Wholesale and consumer inflation rose less than expected in December, supporting speculation of continuing Fed policy rate cuts this year.
  • December retail sales came in slightly lower than expected but showed the economy was still growing at a solid pace at year's end.
  • New jobless claims increased more than expected last week but remained at levels consistent with a healthy labor market. 

Housing News

  • In 2023, just 9% of homes built in the U.S. were under 1,400 square feet, considered a typical starter home, versus 40% in 1982.
  • Builder sentiment rose in January on hopes for more growth and less regulation. Concerns remain over tariffs, costs, and mortgage rates.
  • Mortgage demand last week was up 7% from a year ago despite higher rates. Inventory is up, but strong prices challenge affordability.

Market Minute Report - Mortgage News