Blog


  • The Fed raised policy rates by 0.75% this week and signaled that future hikes may be smaller but rates may go higher than initially expected.
  • Manufacturing neared stagnation in October as orders contracted for the 4th time in 5 months, reaching the lowest level since May 2020.
  • According to ADP, wages increased 7.7% and companies added 239K jobs in October, more than expected, showing strength in the labor market.

  • Construction spending unexpectedly rebounded in September, despite a further decline in outlays on single-family homebuilding.
  • With slightly better rates for the first time in weeks, refinance applications rose 0.2% last week. Purchase apps fell 1%.
  • Homebuyers moved a median of 50 miles last year, up from the typical 15 miles, thanks to remote work and costly metros, according to NAR. 

Market Minute Report - Mortgage News