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  • Unemployment applications held steady last week, a sign the labor market remains healthy as companies continue to retain their employees.
  • Concerns about tariffs, inflation, and market volatility pushed consumer confidence for the future economy to a 12-year low in March.
  • Fourth quarter GDP was revised to an annual rate of 2.4%. Continued growth is expected, though tariffs could slow the pace. 

Housing News

  • Although the FHFA said it will not lower conforming loan limits, it has announced the termination of special purpose credit programs.
  • Pending home sales last month rebounded from a record low in January. Calmer weather and a greater selection of houses provided optimism.
  • Mortgage demand from homebuyers was the strongest in nearly 2 months. Purchase apps rose 1% for the week and 7% over a year ago.

Market Minute Report - Mortgage News