Blog


  • The Fed left policy rates unchanged at this week's meeting. The Board stood by its earlier projection of 3 rate cuts in 2024. 
  • Unemployment claims fell unexpectedly last week, suggesting job growth has remained strong in March.
  • The S&P Global Manufacturing and Services reports showed continued healthy rates of expansion for the private sector in early March.

Housing News

  • February home sales spiked 9.5%, the largest monthly gain in a year, as supply improved. The median home price rose 5.7% to $384,500. 
  • Homebuilder confidence rose in March to the highest level since July, amid lower mortgage rates and still-constrained sales inventory.
  • Single-family homebuilding rebounded sharply in February, hitting the highest level in nearly 2 years. Permits rose to a 1½-year high.

Market Minute Report - Mortgage News