For the Week Ending March 8, 2018
Please enjoy this quick update on what happened this week in the housing and financial markets.
President Trump's proposed tariffs continue to spark talk of a trade war. This has caused uncertainty in markets, helping stabilize rates in the near term.
Although jobless claims last week came in higher than expected, the labor market remains strong, supporting a likely Fed policy rate increase this month.
The European Central Bank has shown confidence in the overseas economy and inflation. A strong global economy can pressure mortgage rates higher this year.
New home prices are likely to be pushed higher as builder costs increase. Lumber prices are up 25% over the same time last year.
Homebuyers are demanding more from their homes. A 2-car garage, granite countertops, and walk-in closet are now often cited as "essential" home features.
New tariffs on steel could drive up the cost of building apartment buildings and condos. Single-family homes, made of wood, are less likely to be affected.
I bought the world's worst thesaurus yesterday. Not only is it terrible, it's terrible.
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:
What are home buyers demanding these days? It will only take a minute to find out!
Learn more about both in this week's Markets in a Minute:
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All information is subject to change without notice.
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