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MarketMinute | How are older Americans impacting the market?

Nov 8
2:03
AM
Category | Markets in a Minute

  • October's jobs report showed only 12K new jobs were created versus the expected 100K, yet unemployment remained at 4.1%.
  • Jobless claims increased slightly last week but remained below expectations. The 4-week average fell, indicating a stable labor market.
  • Stocks continued to surge to record highs. All 3 major indexes reached record levels as investors bet on lower taxes and deregulation.

Housing News

  • Purchase mortgage applications dropped 5% last week but were still up 2% over the same week a year ago.
  • A recent MBA-RIHA report shows more homeowners ages 70+ are staying in their homes, contributing to the supply shortage.
  • ICE reported the average homeowner with a mortgage had $319K in equity at the end of October, for total of $17.2 trillion among the cohort.

Market Minute Report - Mortgage News

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