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Market in a Minute reports available

 

For the Week Ending January 16, 2015
Shelter Mortgage writes a vivid little weekly report on what’s happening this week in the housing and financial markets. I wondered if I could cut and paste it. i can! Look for these Market in a Minute reports as often as I can post them.The banker joke at the end is classic!


Fed commentary on the economy shows moderate growth and more consumer spending. If correct, policy rate increases could occur this spring.
December’s employment report supports Fed findings. Again, if strength continues, the Fed could raise the policy rate this spring.
In contrast, December’s retail sales (released after the Fed’s info was gathered) dropped unexpectedly. Negative economic news can help keep rate increases at bay.

FHA is lowering its Mortgage Insurance Premiums (MIPs) by 0.5%. The move is expected to save the average FHA borrower $900 per year.
Down payment requirements on some conventional loans are scheduled to drop from the current 5% to 3% for qualified buyers in 2015.
As fuel costs fall, sellers are expected to start asking more for their homes. Conversely, oil-producing markets could see rising unemployment and price declines.

A banker fell overboard from a friend’s sailboat. Not knowing if the banker could swim, the friend grabbed a life preserver, held it up and shouted, “Can you float alone?” “Obviously,” the banker replied, “but this is a heck of a time to talk business!”

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