For the Week Ending September 22, 2017
Please enjoy this quick update on what happened this week in the housing and financial markets.
The Fed announced they will not raise policy rates this month. However, they did signal a rate hike in December is likely, as well as 3 more hikes in 2018.
In October, the Fed will also begin reducing their balance sheet by buying fewer bonds. This could adversely affect mortgage rates over time.
The Fed sees near-term risks to the economy as "roughly balanced." Low unemployment and economic expansion are good, but lack of inflation is a concern.
Home builders are slightly less optimistic about the housing market this month. The recent hurricanes are causing worries over labor and materials.
Housing starts were down slightly for the second straight month in August. However, single-family home construction was up 1.6% from July.
Existing home sales declined to a 1-year low in August, as inventory continues to be a problem. Areas lacking activity due to recent hurricanes are also to blame.
To this day, the guy that used to bully me at school still takes my lunch money. On the plus side, he makes a great sub sandwich.
Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends candiffer from our own and are subject to change at any time.
Here is the Video version of this information:
The Fed met this week. What did they say about rates? Find out here!
Learn more about both in this week's Markets in a Minute:
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