Please enjoy this quick update on what happened this week in the housing and financial markets.
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Retail sales fell more than expected in February, probably due to the bitterly cold weather across the country. A rebound is considered likely next month. |
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The Fed kept policy rates unchanged this week, stating that current monetary policy is appropriate and there’s no reason to push back against the recent Treasury yield surge. |
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Jobless claims rose unexpectedly last week to 770,000, the highest number since mid-February, as the labor market recovers in fits and starts. |
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Homebuilder confidence in the single-family housing market fell in March. Builders continue to face rising mortgage rates and rising costs for materials, especially lumber. |
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Housing starts fell 10.3% to a 6-month low during February’s cold weather. It was likely a temporary setback for a housing market with lean inventory and strong demand. |
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Mortgage applications continued to fall as rates climbed, down 2.2% last week. However, purchase applications were still 5% higher than the same week a year ago. |
Asking for a friend…does struggling to put on your jeans count as cardio?
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| “Who has a harder fight than he who is striving to overcome himself.” Thomas a Kempis Next weeks potential market moving reports are:
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