Mar 4 2016 17292 1

Mar 4 2016 17292 1

For the Week Ending March 4, 2016
 

Please enjoy this quick update on what happened this week in the housing and financial markets.



Oil prices have stabilized as inventories increase and producers freeze production levels. Higher oil prices may contribute to rising mortgage rates.

World stock markets reached a 2-month high this week on easing concerns of global economic weakness. Improving stocks are also pressuring mortgage rates.

Jobless claims this week once again point to a strengthening labor market. A stronger U.S. economic outlook could foster higher mortgage rates, too.

Pending home sales were down slightly in January, but still higher than January of 2015. Demand is high, though, as listings are selling 6 days faster than last year.

Tight inventory is blamed for slowing down the housing market. Inventory is lower now than a year ago and not high enough to meet the demand.

Private residential construction spending rose in January by 0.5%. This is the highest level for residential construction projects seen since November 2007.


 

 

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.


Steve Stratton Headshot
Author:
Phone: 540-560-1638
Dated: March 4th 2016
Views: 334
About Steve: ...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

April 2017 Loudoun County Real Estate Market Update - March 2017 Loudoun County Market
Millionaire To Millennials Buy Now - Click this link to see more 
Video Market Update Feb 2017 - February 2017 Loudoun County
One Loudoun Upper West Luxury Living - Today I toured the interactive

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

eXp Realty Virginia
43723 Lees Mill Square
Leesburg, VA
571-350-8632