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|Concerns over turmoil in Britain and their Brexit deal caused investors to seek safe haven in bonds. This helped mortgage rates improve this week.|
|Stocks continued to suffer losses this week, as the S&P 500 and DJIA both saw 2018 gains erased. There's some speculation the economy could be cooling.|
|Jobless claims rose to a 4-month high last week. However, the underlying trend remained consistent with a tightening labor market.|
|Home builder sentiment posted the biggest drop in 4-1/2 years in November. Rising rates, tight inventory and increased costs are concerning home builders.|
|Home building, however, rose in October, with a strong rebound in multi-family housing projects. Single-family home construction fell for a 2nd straight month.|
|Existing home sales rose slightly in October as well, snapping a 6-month streak of declines. The median house price rose 3.8% from a year ago, to $255,400.|
What is the Thanksgiving Theory of Relativity?
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.
Source: Beth Elkins at Academy Mortgage
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