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  • Weekly jobless claims for last week hit a 7-month low, suggesting job growth rebounded in November after slowing last month.
  • Prices have risen somewhat faster than expected in the past few months, raising questions about whether the Fed can achieve its 2% inflation goal.
  • Stronger than expected economic and labor market data and increasing inflation concerns could reduce expected future Fed policy rate cuts.

Housing News

  • Homebuilder sentiment rose to a 7-month high in November as expectations for sales in the next 6 months surged to a 2-1/2 year high.
  • Housing starts in October hit a slump, likely caused by hurricanes in the Southeast. Permits rose slightly, signaling an anticipated rebound.
  • Existing home sales were up in October, the first annual gain since 2021, as buyers rushed to take advantage of briefly lower mortgage rates.

Market Minute Report - Mortgage News