Greenway's Markets in a Minute I What's new in home remodels?
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Consumer prices increased in February due to higher gasoline prices, yet underlying inflation remained tepid, helping ease fears that have been pushing rates higher. |
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Treasury yields dipped this week after a key 10yr Treasury auction showed enough demand to stave off investor fears. This also relieved upward pressure on rates. |
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Jobless claims hit their lowest level since November as states eased business restrictions and more people returned to work. Continuing claims dropped for the week, too. |
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Last week's purchase applications were 2% higher than a year ago, but refinance apps fell 43% below last year's level due to the rate increases. |
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Home remodeling has surged since the pandemic began, with small projects leading the trend initially. Now, more homeowners are undertaking larger renovations. |
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Ohio Rep. Marcia Fudge was confirmed Wednesday as the new secretary of HUD. Fudge is known as a champion of affordable housing and urban revitalization among other initiatives. |
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