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Demand Stays Strong Amid Labor Shortages
|For the Week Ending November 17, 2017|
Please enjoy this quick update on what happened this week in the housing and financial markets.
|The Producer Price Index, which measures wholesale inflation, rose 0.4% in October. Core PPI was also up, supporting a Fed rate increase next month.|
|Retail sales were also improved in October, coming in stronger than expected. The increase of 0.2% signals a growing economy and could pressure rates.|
|Tax reform continues to make progress in both chambers of Congress. Once passed, the reform is expected to spur further economic growth.|
|Home builder confidence hit an 8-month high in November, despite increased costs and labor shortages. Buyer demand remains high on reduced inventory.|
|National mortgage delinquency rates continue to fall, down 0.6% year-over-year in August. Foreclosure inventory was also down 0.3% year-over-year.|
|The House passed legislation to extend the National Flood Insurance Program for 5 years. However, the Senate still must approve the bill for it to take effect.|
One Pennsylvania police department has stopped giving out minor traffic citations for the holidays. Click HERE or on the image for more.
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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