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MarketMinute | Home price growth continues a 9-year streak

Dec 5
3:48
AM
Category | Markets in a Minute

  • New jobless claims fell last week to the lowest in more than 3 years. Holiday hiring can make weekly claims data more volatile.
  • Mortgage rates edged up last week as optimism grew that the Fed would lower policy rates in December to support the job market.
  • Private payroll data showed companies cut 32,000 workers in November. Small businesses led the pullback.

Housing News

  • Applications for a purchase mortgage rose 3% for the week and were 17% higher than the same week one year ago.
  • The FHFA Home Price Index posted 2.2% annual growth in Q3, marking continued yearly appreciation in quarterly reports since 2012.
  • The national median rent for apartments fell 1% to $1,367 in November, while vacancies hit a record high.

 

Market Minute Report - Mortgage News

 

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