Please enjoy this quick update on what happened this week in the housing and financial markets.
Minutes from last month's Fed meeting showed concerns over global economic weakness. The Fed does not appear likely to raise policy rates anytime soon.
Oil producing countries are unifying to freeze oil production levels and stabilize oil pricing. Stocks have rallied on the news this week for the best gains of 2016.
The rally in oil pricing and stocks has eroded some of the recent improvements in bonds. The volatile markets have led to volatility in mortgage rates as well.
Housing starts were down slightly in January, likely due to cold weather. Still, the housing market fundamentals remain strong.
Building permits were down slightly overall for January. However, a strengthening job market is projected to buoy housing demand this year.
Builders' confidence was down slightly, but more builders see conditions as good than poor. Low rates and steady job gains signal an upward trend for housing.
Did you hear about the cowboy who got himself a dachshund?
He wanted to get a long little doggie.
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 can differ from our own and are subject to change at any time.
Author:Steve Stratton Phone: 540-560-1638 Dated: February 19th 2016 Views: 302 About Steve: ...
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