The Weekly Economy & Housing Report

    Rod and I are 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

    The consumer price index rose less than forecast in March. A key measure of inflation, this reading supports the Fed’s decision not raise rates this year.

    Producer prices increased by the most in 5 months in March. However, underlying prices remained soft, an indication of tame inflationary pressures.

    Jobless claims fell to a 49-1/2-year low last week. Sustained labor market strength could help temper concerns of an economic slowdown.

    Housing News

    Although down from January, construction job openings were higher year-over-year in February, highlighting the challenge of labor availability for builders.

    Housing sentiment surged in March, with sellers the most optimistic. Consumers who say it’s a good time to sell increased 13% from February, up 4% from 2018.

    CoreLogic says mortgage delinquencies in January were the lowest for that month in 20 years. Serious delinquencies dropped to 1.4% from 2.1% in 2018.

     


    *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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