It’s time for your weekly look at what’s happening with rate movement, the economy, and the housing market. Watch to the end for a quick smile.
The Economy
Mortgage rates have shown more volatility from day-to-day recently. Overall, rates have hovered at recent lows.
The rate of retail sales growth is expected to slow in 2019 amid cooling economic conditions. Still, retail sales are forecast to rise between 3.8% and 4.4%.
The U.S. trade deficit dropped 11.5% in November, falling for the first time in 6 months. The decrease in imports followed 5 straight months of increases.
Housing News
The recent drop in mortgage rates has helped spark greater demand for housing. Many buyers are out shopping, hoping for a quick deal before rates rise.
Data shows luxury house flipping has risen in several markets throughout the nation. However, it’s still low relative to the years before 2008.
Freddie Mac says 1.6 million fewer homes are on the market than expected as more of today’s seniors choose to age in place.
See you again next week!
**Rate movements and volatility are based on published, aggregated national averages and measured from the previous to the most recent mid-week daily reporting period. These rate trends can differ from our own and are subject to change at any time.