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  • Last week's initial jobless claims saw the biggest drop since November, coming in at 206K and pointing to labor market stabilization.
  • Fed meeting minutes showed many officials were worried more about inflation than the labor market, making a cut in March unlikely. 
  • The U.S. trade deficit widened to $70.3 billion in December, marking one of the largest annual gaps on record.

 

Housing News

 

  • Pending home sales continued to slide in January. Improving affordability was not enough to overcome winter weather and economic concerns.
  • Single family housing starts rebounded in December with a 4.1% increase, though permits for future construction slipped lower.
  • Builder confidence fell for the second straight month in February, as builders worried about high price-to-income ratios and rising costs.

Market Minute Report - Mortgage News