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  • Weekly jobless claims fell unexpectedly last week, indicating low layoffs and a healthy labor market at the end of 2024.
  • Investors are optimistic about U.S. stock market performance in 2025, anticipating a 3rd consecutive year of growth.
  • The economy faces a potential labor supply shock due to reduced immigration, which could strain job growth and exacerbate inflation. 

Housing News

  • Pending home sales rose 2.2% in November, marking the 4th consecutive monthly increase and a return to the highest levels since early 2023.
  • The inventory shortage is finally easing. Housing inventory reached a 4-year high in November, with over half of listings unsold for 60+ days.
  • Insurance and property taxes are soaring and now comprise 32% of the average single-family mortgage payment, the highest rate ever recorded.

Market Minute Report - Mortgage News