Markets in a Minute | June 25th
Europe continues to influence mortgage rates. This week’s action was driven by negotiations over Greece’s looming debt payment.
This year’s Q1 economic slowdown was less severe than estimated, raising expectations for growth in 2015. A strong economy will usually lead to higher rates.
Consumer spending rose in May at the fastest rate in almost 6 years. Increased consumer spending fuels the economy and could lead to higher rates.
Existing home sales surged to a 5-1/2 year high in May, the latest indication that housing and overall economic activity were gathering steam in the 2nd quarter.
First time buyers led the market, accounting for 32% of home buying transactions in May. Stronger wage growth is one factor spurring market improvement.
New home sales in May were an astounding 19.5% higher year-over-year. Available new homes have dipped to a 4.5 month supply.
The boss has just caught you sleeping at your desk…think quickly…what do you say?
“They told me this might happen after donating all that blood.”
“This print is getting smaller and smaller. Perhaps I
should make that appointment with the optometrist.”
“Jeez, thanks for interrupting. I almost figured out how
we could solve that problem with…”
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.