Financial Friday | Markets in a Minute

For the Week Ending October 26, 2018

Minutes from last month’s Fed FOMC meeting showed officials broadly agreed on raising interest rates further. The next anticipated rate hike is in December.
Retail sales rose slightly in September. Consumer spending ended the 3rd quarter with strong momentum and should boost further economic growth.
Jobless claims dropped last week, suggesting a further tightening in the labor market. Americans on jobless rolls fell to the lowest levels seen since 1973.

Homebuilder sentiment improved in October as lumber prices fell. Builders still struggle with labor shortages but are generally optimistic.
Housing starts fell slightly more than expected in September. However, most of the drop is in the South and is likely due to Hurricane Florence.
Mortgage applications continued to drop from the previous week, though purchase applications were still 2.5% higher year-over-year.

Last week I quit my job at the helium gas factory. I simply refuse to be talked to in that tone of voice.

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.

 

Jason Browning 
Branch Manager, Producing | NMLS# 527754 
(972) 381-2424 
(214) 587-0003 
jason.browning@academymortgage.com 


14001 Dallas Parkway, Suite 1200 & 1300  | Dallas, TX 75240 

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LO State Lic#: OK MLO13841; TX 527754 
Corp State Lic#: OK: ML010411; 3113 
NMLS# 3113 | An Equal Housing Lender 

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