Happy Labor Day! {Market Report} September 4th

Whether your Labor Day weekend is action-packed or simply a time to binge-watch your favorite shows, I hope it is everything you want it to be.

 Have a great one!

If texting has taught us anything, it’s that a lot of people aren’t quite ready for a spelling bee.

Don’t vacuum and listen to loud music on your headphones at the same time. I finished three rooms before I realized the vacuum wasn’t even on.

When someone yells stop I don’t know whether it’s in the name of love, it’s Hammer time, or I should smell the flowers.

I followed a diet, but it didn’t follow me back, so I unfollowed it.

Spilling hot coffee on your lap wakes you up faster than drinking it.

Now The Market Report . . .

Consumer confidence was expected to slip in August. However, it was at its highest level since October 2000 as it built on July’s solid measure.

Consumer spending also increased strongly in July, pointing to solid economic growth. Inflation rose too, which could pressure rates higher in the future.

Although jobless claims were up slightly last week, the underlying trend points to a robust labor market. The jobs market is viewed to be at or near full employment.

Case-Shiller data for July shows that although home prices are increasing, it’s at a slower rate. Prices rose in June at the slowest monthly pace in almost 2 years.

Pending home sales were down slightly in July, the 7th straight month of annual declines. NAR says tight supply and increasing prices are to blame.

Home buyers are looking for better digital resources to speed up the mortgage and home buying process. However, they also say they still want a human touch.

Nothing ruins a Friday more than remembering that it’s only Thursday.

This week’s potential market moving reports are:

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.

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