The Markets In A Minute

May 7th, 2018

Steve Hollander – Hollander Real Estate
Jackie Doran – Capital Partners Mortgage, LLC

The Economy

The PCE index, the Fed’s preferred inflation barometer, rose to 2% year-over-year in March. This is the biggest jump since Feb ’17 and could pressure rates.

The Fed voted unanimously not to raise policy rates at this month’s FOMC meeting. However, they are expected to raise rates at the next meeting in June.

The labor market shows no signs of slowing, as new applications for unemployment benefits last week fell to the lowest level since 1973.

Housing News

Pending home sales were down 3% year-over-year in March, the 3rd straight month of annual declines. However, sales were up 0.4% compared to February.

Increases in mortgage rates saw applications to buy a home drop 2% last week. However, purchase applications were still 5% higher than a year ago.

Rising raw material costs are another way that inflationary pressures are starting to affect housing. Spending on new housing projects fell slightly in March.

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.

Jackie Doran

Capital Partners Mortgage, LLC
Loan Officer
NMLS # 364090
Jackie.Doran@CapitalPartnersMtg.com
(561) 716-0448
www.mortgagesbyjackie.com
© 2017 Capital Partners Mortgage, LLC. All Rights Reserved. This communication does not constitute a commitment to lend or the guarantee of a specified interest rate. All loan programs and availability of cash proceeds are subject to credit, underwriting and property approval. Programs, rates, terms and conditions are subject to change without notice. Other restrictions apply. Jackie Doran NMLS # 364090, . 11290 Legacy Ave, North Palm Beach, FL 33410. Capital Partners Mortgage, LLC  1515 N. University Drive, Suite 102D, Coral Springs, FL 33071. Corp NMLS# 1084639 (www.nmlsconsumeraccess.com). Equal Housing Lender.