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MarketMinute | How are recent rate drops affecting builders and buyers?

Jan 19
3:12
AM
Category | Markets in a Minute

  • Retail sales rose at the strongest pace in 3 months in December, topping expectations for holiday shopping and signaling a resilient economy. 
  • The Fed’s latest Beige Book snapshot of the economy reported little or no change in economic activity for December through early January.
  • The labor market continues to show resiliency. Last week's jobless claims posted an unexpected drop to the lowest levels since September 2022.

Housing News

  • Homebuilder sentiment improved for the 2nd straight month in January and is now at the highest level since September. 
  • Housing starts fell sharply in December, the first drop in 4 months. Permits for future construction were up though, increasing 1.7%.
  • Mortgage applications started the year off strong as rates dropped. Overall apps were up 10.4%, with purchase apps rising 9% for the week.

Market Minute Report - Mortgage News

 

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