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  • Initial jobless claims fell to 207K last week, down 11K from the prior week and the largest single-week drop since February.
  • Core inflation held at just 0.2% month over month in March and 2.6% year over year, even as headline CPI jumped 0.9% on an energy price spike. 
  • Consumer sentiment hit a record low of 47.6 in April's preliminary reading, driven by energy costs and conflict concerns.

Housing News

  • Builder confidence slipped to 34 in April, but the share of builders cutting prices eased to 36% and average price reductions narrowed to 5%.
  • ICE reports 99 of 100 major U.S. markets are more affordable than a year ago, with March affordability the best for that month in 4 years.
  • The ICE HPI shows home prices up 0.4% year over year in March. February and March posted the strongest monthly gains in nearly 12 months.

Market Minute Report - Mortgage News