Inventory is finally up! {Market Report} July 16th

I yell “stay” at objects that keep falling over.

What do people do with all the extra time they save by writing “K” instead of “OK”?

I hate it when I’m singing a song and the artist gets the word wrong.

So it turns out that being an Adult is mostly just Googling how to do stuff.

Now The Market Report . . .

Consumer prices barely rose in June, but the underlying trend points to inflation. Rising inflation will likely lead to more Fed rate increases and higher rates.

Producer prices rose more than expected in June, another factor pointing to inflation. This jump was the largest annual increase in 6-1/2 years.

Although trade war concerns have escalated, there’s not a lot of fear that this will hurt the economy. In the meantime, mortgage rates have remained stable.

Homeowners have an estimated $5.8 trillion in accessible equity, the highest ever recorded. Despite this, fewer owners are taking cash out than in previous eras.

Inventory remains tight, but could loosen up a bit in the near future. Inventory increased 12.2% in the 2nd quarter, the biggest gain since early 2015.

Although refinance applications were down last week, purchase applications rose 7% for the week and were 8% higher than the same week a year ago

What does Jason Vorhees have for dessert on Friday the 13th?

I-Scream.

This week’s potential market moving reports are:

Monday July 16th:          Retail Sales

Tuesday July 17th:          Home Builders Index, Industrial Production

Wednesday July 18th:     Housing Starts

Thursday July 19th:         First Time Jobless Claims

Friday July 20th:              No Scheduled Reports

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