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Happy Thanksgiving {Market Update} November 20th

Happy Thanksgiving {Market Update} November 20th
November 20, 2017 abryant

Chocolate is the answer, who cares what the question is.

Why do people pay to go up tall buildings and then put money in binoculars to look at things on the ground?

I’m a pretty clever guy. For example, my username and password are always the same, just in case I forget either.

Procrastination, I’ll think of something witty to say about it later.

Why do people try to park as close as they can to the entrance when they go to the gym to work out?

 

 

Check out the October issue of Los Angeles Magazine on LA real estate.  It’s all about affordable hoods, trade secrets, historic homes and more. Your guide to the gold mine!

http://www.lamag.com/issue/october-2017/

 

Now The Market Update . . .

 

The Producer Price Index, which measures wholesale inflation, rose 0.4% in October. Core PPI was also up, supporting a Fed rate increase next month.

Retail sales were also improved in October, coming in stronger than expected. The increase of 0.2% signals a growing economy and could pressure rates.

Tax reform continues to make progress in both chambers of Congress. Once passed, the reform is expected to spur further economic growth.

 

Home builder confidence hit an 8-month high in November, despite increased costs and labor shortages. Buyer demand remains high on reduced inventory.

National mortgage delinquency rates continue to fall, down 0.6% year-over-year in August. Foreclosure inventory was also down 0.3% year-over-year.

The House passed legislation to extend the National Flood Insurance Program for 5 years. However, the Senate still must approve the bill for it to take effect.

 

I had a job tying sausages together, but I couldn’t make ends meet.

 

Please note: We will not publish The Markets in a Minute next week. Wishing you a wonderful Thanksgiving Day!

 

Next week’s potential market moving reports are:

Monday, November 20th:          Leading Indicators

Tuesday, November 21st:           Existing Home Sales

Wednesday, November 22nd:    MBA Mortgage Applications, Jobless Claims

Thursday, November 23rd:        Markets Closed

Friday, November 24th:              NYSE Closes at 1:00PM