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MarketMinute | Mortgage applications are rising

May 29

9:31

AM

Category | Markets in a Minute

Applications for unemployment benefits rose slightly last week, but remain at a level consistent with a stable labor market.

Another key inflation reading shows the 12-month inflation rate at 3.8%, much higher than the Fed's target rate of 2%.

Final gross domestic product readings for the first quarter came in softer than preliminary readings, falling from 2% to a final reading of 1.6%.

Housing News

April's new home sales were lower than forecast. Builder incentives failed to motivate buyers at the start of the spring selling season.

Housing construction may stay constrained in coming months as builders focus on reducing inventory, currently a new home supply of 9.4 months.

Despite mortgage rates moving higher recently, applications to purchase a home were still up 0.4% for the week and up 5% higher than a year ago.

MarketMinute | Are rising rates diminishing demand?

May 22

1:30

PM

Category | Markets in a Minute

Last month's Fed minutes showed officials are no longer considering policy rate cutes but instead are weighing rate hikes as inflation moves higher.

Applications for unemployment benefits remained low last week, signaling layoffs are still relatively limited despite recent job cut announcements.

Economists expect inflation to worsen in the coming months, with consumer prices projected to rise as much as 6% in the second quarter.

Housing News

Builder sentiment edged higher in May despite rising rates, economic uncertainty, and high construction costs.

According to the NAR, pending home sales in April increased by 1.4% month over month and rose 3.2% year over year, signaling a strong spring market.

Single-family housing starts saw their largest decline in nearly a year in April as builders grew more cautious on demand.

MarketMinute | Inventory is slowly rising

May 15

3:13

AM

Category | Markets in a Minute

Wholesale prices posted their largest annual gain in over 3 years in April, pointing to rising inflation pressures from higher supply costs.

Consumer prices rose faster than expected in April to the highest levels in 3 years as increased energy costs added to growing inflation concerns.

Consumers kept spending in April despite sharply higher gas prices, with retail sales rising for a 3rd straight month.

Housing News

Existing home sales edged up less than expected in April as high mortgage rates and affordability challenges weighed on buyers.

Existing home inventory was up about 6% for the month. However, annual growth of just 1.4% shows the market remains tight.

Buyers appear to be adjusting to higher mortgage rates. Mortgage applications rose 1.7% last week, and purchase applications were up 4%.

MarketMinute | Rates and new home sales improve

May 8

3:15

AM

Category | Markets in a Minute

ADP reports private payrolls rose 109K in April, up from 61K in March and well above expectations, signaling labor market strength.

The New York Fed found lower-income consumers are cutting spending to offset higher gas prices. Wealthier households have changed habits little.

The JOLTS report shows a 3.5% growth in the hiring rate for March, the best since May 2024. The rate had fallen near pandemic levels in February.

Housing News

Constrained supply of existing homes and modest rate improvement pushed new home sales higher in March, up 3.3% from a year earlier.

Construction spending ⁠also rebounded ⁠in March, supported by a 2.7% surge in single-family homebuilding.

Purchase applications fell 4% last week as mortgage rates rose, though the apps were 5% higher than the same week last year.

MarketMinute | Housing starts and listings are up!

May 1

3:38

AM

Category | Markets in a Minute

The economy expanded at a 2% pace in the 1st quarter of 2026, showing modest growth following the 43-day government shutdown last fall.

Jobless claims fell last week to the lowest level since 1969, a sign that job cut announcements have not yet meaningfully translated into layoffs.

The Fed left its policy rate unchanged at this week's meeting, but some members signaled that rate cuts are no longer more likely than hikes.

Housing News

Single-family housing starts jumped to a 13-month high in March, though permits for future construction fell.

Realtor.com reports a 1.1% year-over-year increase in new listings in April, while fewer sellers had to cut prices.

Mortgage applications were up 1% for the week and 21% from the same period a year ago, despite rates creeping higher.