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MarketMinute | How much more are homeowners paying for insurance?

Jan 24

4:38

AM

Category | Markets in a Minute

New unemployment applications hovered near pre-pandemic averages last week, but continuing claims surged to a 3-year high of 1.9 million.

The number of consumers making only the minimum credit card payment jumped to a 12-year high in 2024. Delinquencies also rose to new highs.

Global think tank The Conference Board projects the U.S. economy will expand at an upwardly revised 2.3% pace in 2025.

Housing News

A Treasury Department study found home insurance costs rose 8.7% faster than inflation from 2018-22, driven by climate-related natural disasters.

Purchase mortgage applications rose 1% last week and were 7% higher year over year, despite mortgage rates above 7% for most buyers.

Federal agencies must report monthly on progress toward lowering the cost of housing and expanding supply, per a new executive order.

MarketMinute | Are starter homes a thing of the past?

Jan 17

3:19

AM

Category | Markets in a Minute

Wholesale and consumer inflation rose less than expected in December, supporting speculation of continuing Fed policy rate cuts this year.

December retail sales came in slightly lower than expected but showed the economy was still growing at a solid pace at year's end.

New jobless claims increased more than expected last week but remained at levels consistent with a healthy labor market.

Housing News

In 2023, just 9% of homes built in the U.S. were under 1,400 square feet, considered a typical starter home, versus 40% in 1982.

Builder sentiment rose in January on hopes for more growth and less regulation. Concerns remain over tariffs, costs, and mortgage rates.

Mortgage demand last week was up 7% from a year ago despite higher rates. Inventory is up, but strong prices challenge affordability.

MarketMinute | Check out these 2025 rate predictions

Jan 10

3:43

PM

Category | Markets in a Minute

Minutes from the last Fed meeting showed members favored slowing rate cuts to balance inflation risks with those of economic overheating.

Job openings unexpectedly rose in November. Slower hiring points to a softening labor market but not one that needs Fed intervention.

Jobless claims fell to an 11-month low last week. Continuing claims rose slightly. The balance points to relative stability in the jobs market.

Housing News

MBA and Fannie Mae expect mortgage rates to stay above 6% through 2025 due to a strong economy and possible rising inflation.

High mortgage rates and home prices drove 2024's median monthly housing payment to a record $2,775, up 11% year over year.

Purchase applications fell 7% for the week and were 15% lower than the same week a year ago, as higher rates weakened demand.

MarketMinute | Housing inventory and pending sales reached recent highs

Jan 3

7:59

AM

Category | Markets in a Minute

Weekly jobless claims fell unexpectedly last week, indicating low layoffs and a healthy labor market at the end of 2024.

Investors are optimistic about U.S. stock market performance in 2025, anticipating a 3rd consecutive year of growth.

The economy faces a potential labor supply shock due to reduced immigration, which could strain job growth and exacerbate inflation.

Housing News

Pending home sales rose 2.2% in November, marking the 4th consecutive monthly increase and a return to the highest levels since early 2023.

The inventory shortage is finally easing. Housing inventory reached a 4-year high in November, with over half of listings unsold for 60+ days.

Insurance and property taxes are soaring and now comprise 32% of the average single-family mortgage payment, the highest rate ever recorded.

MarketMinute | Why are builders optimistic for 2025?

Dec 20

2:57

AM

Category | Markets in a Minute

The Fed cut policy interest rates by 0.25%. The Board signaled plans to slow rate cuts in 2025, leading to a significant jump in mortgage rates.

Retail sales increased more than expected in November, consistent with strong underlying momentum in the economy as the year winds down.

Revised final 3rd-quarter GDP figures show the economy grew 3.1%, more than the 2.8% initial estimate.

Housing News

November existing home sales posted the largest annual gain since 2021, helped by increased inventory. Activity remains subdued, however.

Single-family housing starts rebounded in November, increasing 6.4%. Single-family building permits rose 0.1%.

Builder sentiment remained steady at year's end, balancing high home prices and rates with hope for a better regulatory climate in 2025.