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Greenway's Markets in a Minute I How Are Rates Being Impacted?

Jan 22
2:33
AM
Category | Markets in a Minute

 

  • Now that President Biden is in office, his administration is expected to push to get another large stimulus bill passed, this one speculated to be $1.9 trillion.
  • Stock markets continue to hit new record highs, counting on vaccines and fiscal stimulus to drive economic recovery in 2021. This could pressure rates higher through the year.
  • Jobless claims last week came in at 900,000 for the week, which was slightly better than the prior week's 926,000. Continuing claims came in at 5.05 million for the week.
 

  • Builder confidence in the single-family home market fell 3 points to 83 in January's NAHB Housing Market Index. Anything above 50 is considered positive.
  • Housing starts rose to the fastest pace since 2006 in December, with single-family construction driving gains with a 14-year high. This was the 8th straight increase.
  • The FHFA has extended the moratorium on evictions and foreclosures for the 5th time. Originally scheduled to expire June 2020, the moratorium now runs until Feb. 28.