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MarketMinute | Who's driving the first-time buyer market?

May 23

3:44

AM

Category | Markets in a Minute

This week's Fed speakers reaffirmed the Board's commitment to a wait-and-see approach to rate changes due to economic uncertainty.

New jobless claims were slightly better than expected, while continuing claims rose by 36K. New jobs may be hard to find despite a stable market.

In an Achieve survey, 32% of households reported financial gains and 33% declines last year, though 57% had expected growth and 10% worsening.

Housing News

April’s single-family housing starts were 1.6% higher than in March. However, permits for future construction fell 5.1% month over month.

Existing home sales dropped 0.5% for the month in April and 2.0% for the year, due to economic uncertainty and high housing costs.

Gen Z made about one in four first-time homebuyer mortgage originations in the 1st quarter of 2025, according to the ICE Mortgage Monitor.

MarketMinute | Who's thinking of selling and why?

May 16

3:06

AM

Category | Markets in a Minute

Inflation cooled to 2.3% in April, its lowest in 4 years. Falling prices for groceries, cars, and flights offset tariff pressures.

Producer prices fell in April by the most in 5 years, as companies absorbed tariff costs instead of passing them on to consumers.

Retail sales rose just 0.1% in April after a March surge. Consumers pulled back amid tariff uncertainty and growing economic pessimism.

Housing News

ICE’s 2025 Borrower Insight Survey found Younger Gen Z (42%) and Millennial (27%) owners are more likely to be planning to sell in the next year.

Those planning to sell are most likely looking for a change in scenery (42%), upsizing/downsizing (38%), or accessing cash from equity (30%).

Mortgage demand rose for the 2nd straight week. Purchase apps rose 2% for the week and 18% year over year.

MarketMinute | First-time buyers are leading the purchase market

May 9

11:44

AM

Category | Markets in a Minute

The Fed held its policy rate steady at its May meeting, warning of growing inflation and unemployment risks amid trade policy uncertainty.

Unemployment claims fell last week. After spiking briefly at the end of April, current levels again signal a stable labor market.

April's ISM data was mixed. Manufacturing activity contracted for a 2nd straight month, while the services sector grew modestly.

Housing News

Buyers returned to the spring market despite economic jitters. Purchase mortgage apps rose 11% for the week and 13% from a year ago.

First-time homebuyers made up 58% of agency purchase lending in the 1st quarter of 2025, according to the ICE Mortgage Monitor.

Fannie Mae reports fewer people think it’s a good time to sell, as rising inventory, stalled sales, and economic uncertainty fuel competition fears.

MarketMinute | Home builders are going small

Apr 25

5:14

AM

Category | Markets in a Minute

The Fed's Beige Book said trade uncertainty, especially around tariffs, dragged down outlooks across several U.S. regions.

Durable goods orders surged 9.2% in March, driven by a rush to buy big-ticket items like autos and appliances ahead of impending tariffs.

Jobless claims rose slightly to 222K. The labor market remained steady as businesses avoided layoffs despite economic and tariff uncertainties.

Housing News

Existing home sales fell 5.9% in March, the largest monthly drop since November 2022. The median sales price was $403,700, up 2.7% year over year.

However, new home sales jumped 7.4% in March. Buyers took advantage of lower mortgage rates and a growing supply of newly constructed homes.

The median price of a new home fell to $403,600, 7.5% lower year over year, as builders and buyers focused on smaller, more affordable homes.

MarketMinute | Rates create a call to ARMs

Apr 18

9:49

AM

Category | Markets in a Minute

Retail sales saw their biggest jump in more than 2 years last month as consumers rushed to buy ahead of tariffs.

Fed Chair Powell reiterated this week that the Fed must ensure tariffs don’t trigger a persistent rise in inflation, making rate cuts unlikely.

Unemployment claims fell to a 2-month low last week, evidence companies weren't turning to large-scale layoffs as tariffs hit.

Housing News

Builder sentiment stayed negative in April. Tariff worries and high material costs outweighed a slight boost from lower mortgage rates.

Purchase mortgage applications dropped 5% for the week but were 13% higher than the same week a year ago.

More borrowers turned to adjustable rate mortgages last week after interest rates made a sudden jump amid market chaos.