MarketMinute | Pending home sales rose in February
The Fed left its policy rate unchanged at this week's meeting but signaled concern that inflation remains a problem and future cuts aren't certain. Wholesale prices rose sharply in February, providing another sign that inflation persists even aside from rising energy costs. Jobless claims last week fell to the lowest level since January, signaling limited layoffs and labor market resilience. Builder sentiment edged higher in March, though affordability concerns remain due to...
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MarketMinute | Inventory and sales are up!
Consumer inflation met expectations in February, slowing from January’s level and marking the lowest core annual rate since 2021. The budget deficit surpassed $1 trillion for the fiscal year through February but was sharply lower than the same period a year ago. New jobless claims fell last week, easing concerns about labor market weakness after February’s surprise drop in employment. Existing home sales grew unexpectedly in February. Lower mortgage rates and steady prices...
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MarketMinute | Home Buyers Are Coming Off the Sidelines — Here’s Why
Oil prices jumped this week as the Middle East conflict raised concerns about shipping and supply restraints in the global oil market. Rising oil prices renewed inflation fears and reduced expectations of Fed rate cuts, pushing rates higher. Current labor data, including unemployment claims and the ADP private payroll report, gave conflicting views of labor market strength. Rates briefly hit 4-year lows last week, moving purchasers off the fence. Purchase apps rose 6.1% for the week and 10% year...
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Why Getting Pre-Approved for a Mortgage Is the First Step to Buying a Home
Why Get Pre-Approved Before Buying a Home? If you’ve decided now is the time to take the plunge into homeownership, your very first step should be getting pre-approved for a mortgage . A mortgage pre-approval gives you clarity, confidence, and a competitive edge in today’s market. Before you start touring homes, it’s important to understand what you can comfortably afford and what your monthly payment will likely look like. What Is a Mortgage Pre-Approval? A pre-approval means a lender reviews your income, assets, and credit and determines how much you’re qualified to borrow — subject to certain conditions....
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