A jump last week in the PCE — the price index tracked most closely by the Fed — raised the prospect that inflation might not be completely dead after all. Investors reacted by driving the yield on the 10-year Treasury to its highest point since June. The 30-year mortgage rate jumped 7 basis points to 3.54 percent, the largest 1-week increase in over six months.
For Week Ending October 22, 2016
Even though there are still more than two months remaining on the year, there is little to suggest that the prevailing trends of 2016 will suddenly change. If all holds firm, inventory will trend lower, prices will trend higher and sales will show that demand remains strong, despite having fewer homes to choose from.
In the Twin Cities region, for the week ending October 22:
For the month of September:
All comparisons are to 2015
Click here for the full Weekly Market Activity Report. From The Skinny Blog.
Mortgage rates continue to be relatively stable and at near record lows. The 30-year fixed-rate mortgage fell 5 basis points week-over-week to 3.47 percent, erasing last week’s increase.
Mortgage rates continue to be relatively stable and at near record lows. The 30-year fixed-rate mortgage fell 5 basis points week-over-week to 3.47 percent, erasing last week’s increase.
For Week Ending October 15, 2016
Housing starts may have fallen for the second month in a row, but the cause appears to be an abnormally large decline in the multifamily category. An increase in single-family starts and building permits is a better indicator of a market reacting positively to the prevailing inventory struggle.
In the Twin Cities region, for the week ending October 15:
For the month of September:
All comparisons are to 2015
Click here for the full Weekly Market Activity Report. From The Skinny Blog.
