HOUSING AND FINANCIAL UPDATE FOR THE WEEK ENDING April 13th, 2018
Please enjoy this quick update on what happened this week in the housing and financial markets.
Minutes released from last month's FOMC meeting show the Fed still plans on 2 more rate hikes this year. Inflation is a concern, as is a trade war with China. Consumer prices fell for the first time in 10 months in March, mainly due to cheaper gas prices. However, underlying inflation continued to increase. A tightening labor market is also expected to contribute to higher inflation this year. Jobless claims fell once again last week, despite a slowdown in job growth.
Over 32% of consumers surveyed by Fannie Mae say it's still a good time to buy a home. Almost 39% say it is a good time to sell a home. CoreLogic recently found rising debt-to-income ratios among buyers. This could reflect confidence in the economy and comfort with higher monthly debt obligations. Single-family homes were the fastest growing type of rental between 2007 and 2016. Their share of the rental market increased by 31% in the last decade.
Friggatriskaidekaphobia is the fear of Friday the 13th (named after Frigg, the Norse goddess after whom Friday is named in English).
What would make Friday the 13th even scarier? If it were on a Monday.