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MarketMinute | How are the markets finishing the year?

Dec 30
6:56
AM
Category | Markets in a Minute

Market Minute - Economy and Housing News - Erin Carvelli

  • The dollar is ending the year on the defensive, having given back roughly half of its 2022 gains, as investors bet inflation is slowing.
  • Jobless claims rose only modestly last week and held near prepandemic levels, suggesting the labor market remains historically tight.
  • Purchasing power of middle-income household paychecks fell 2.9% in 2022, as inflation hit middle earners harder than other groups.

  • Month-over-month house prices were flat in October, changing 0.0%, according to FHFA. Prices rose 9.8% over October 2021.
  • Pending home sales fell 4% in November, more than expected. Higher mortgage rates and tight inventory continue to affect the housing market.
  • Mortgage applications rose 0.9% last week. Refinance apps were up 6% week over week, and purchase apps were down 0.1% for the week. 

Market Minute Report - Mortgage News