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  • Business investments rose, and durable goods orders rebounded in February, possible early signs of a revival in manufacturing. 
  • The economy grew faster than previously estimated in the 4th quarter, lifted by strong consumer spending and business investment.
  • Jobless claims fell slightly last week and continued to hover at very low levels, demonstrating sustained labor market strength.

Housing News

  • Sales of newly built homes fell slightly in February after mortgage rates increased. However, sales were up 5.9% year over year. 
  • The median new house price last month was the lowest in more than 2½ years, while supply was the highest since November 2022.
  • Hints at improvements ahead in the spring market came as February’s pending home sales bounced back from their January slump.

Market Minute Report - Mortgage News