The Weekly Economy & Housing Report

    We’re pleased to bring you a weekly report on the mortgage and housing industry, as well as the economy. Weekly we will publish the following report from CoreLogic as a courtesy to you. For more detailed statistics about Utah real estate markets, look for our real estate market updates weekly!

    Rate Environment

    The Economy

    Wholesale prices barely rose in February, after falling for 3 straight months. This is a sign there is little inflation pressure in the economy, which is good for rates.

    Retail sales edged up in January, but December was revised sharply lower. The increase was mainly due to discretionary spending and purchases of building materials.

    Import prices rose in February by the most in 9 months. However, the trend in imported inflation remains weak, supportive of rates staying low.

    Housing News

    New home sales declined to a 3-month low in January. The government shutdown and a battered stock market appear to have hurt sales.

    Construction spending posted its biggest increase in 9 months. However, private residential projects dropped 0.3%, falling for the 6th straight month.

    The latest design trends include bolder color schemes and brass finishes, particularly in the kitchen and the bathroom.

     


    *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.

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    Melody Moser

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