Weekly Mortgage Update: January 14th, 2018′
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FIRST TEAM’S WEEKLY MORTGAGE WATCH (JANUARY 14TH, 2018) THIS WEEK HIGHLIGHTS THE FOLLOWING UPDATES:
- Mortgage rates moved upward last week.
- Economic news continues to point toward solid economic growth both here and abroad, with some signs that inflation may finally be taking hold.
- Retail Sales grew 0.4%, right in alignment with expectations.
- While both the Consumer and Producer Price Indices’ headline numbers were soft, the core readings revealed some increasing price pressures.
- International news also pressured rates upward. The European Central Bank has tagged September as the end of their quantitative easing program, and Japan is showing signs of ending its long program of holding rates at zero.
- Markets got a little spooked when news broke that China, the world’s largest investor in US treasuries, was considering trimming its purchases. Chinese officials denied the news.
- This week would easily see rates continuing to march slowly upward, especially if we see Industrial Production numbers beat predictions.
- Additionally, if weekly jobless claims drop back below 250K, easing labor market concerns, mortgage rates will feel even more pressure to climb higher.
SOCIETAL OCD KICKING IN THE KITCHEN
The 2018 U.S. Houzz Kitchen Trends Survey revealed that the number one priority in the kitchen is storage. While we love our kitchen gadgets, tools, and appliances, clutter in the kitchen seems to be driving us crazy. The growth in sales of recycling baskets, cookie sheet organizers, revolving corner trays, drawer organizers, and pull-out or swing-out trays and shelves supports these results. Runners-up for kitchen priorities include easy-to-work in, entertain in, and clean.
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