MarketMinute | Week ending 12/1

MarketMinute | Week ending 12/1

Erin Carvelli Erin Carvelli

Erin Carvelli

Senior Loan Officer at Greenway Mortgage | NMLS #205141

发布日期: 2023年12月2日
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ErinCarvelli.com

  • New home sales fell last month, coming in below analysts' expectations. The drop was likely due to mortgage rates’ reaching a 2023 high.?

  • Pending home sales also dropped in October, hitting a record low. Limited housing inventory added to the challenge of affordability.

  • However, mortgage rates have come down from October's highs. Purchase mortgage applications were up 5% for the week.

ErinCarvelli.com

  • The Fed's preferred gauge of inflation as measured by personal spending increased 3.5% year over year in October, meeting expectations.

  • Consumer confidence rose in November after 3 straight monthly declines, though two-thirds of consumers think a recession is likely in 2024.

  • The Fed released data showing economic activity slowed in recent weeks as consumers pulled back on discretionary spending.

ErinCarvelli.com



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