Mortgage rates rose sharply this week, following the trend of the 10-year Treasury yields. The 30-year fixed-rate mortgage increased to an average of 2.84% from 2.78% the previous week.
The annual inflation rate is decelerating, rising for the fifth straight month in October though at a slower pace as the economy gradually recovers from the COVID effect.
Based on the latest data, there are 17.4 million American men and women that are veterans. They represent nearly 7% of the total civilian population.
The food and beverage stores subsector consists of beer, wine and liquor, specialty food stores, and grocery stores, and is likely to carry food retail for the foreseeable future, barring a vaccine.
During the week of October 23, the refinance percent of total applications rose to 66.7% after the share hit a low of 59.5% during the week of May 29.
Vacation home sales are outperforming total existing-home sales. Sales of homes intended for vacation use rose to 109,100 in the past three months of July-September, a 44% gain from the level of 75,600 sales during the same period last year
Slightly fewer people applied for unemployment benefits last week. In the meantime, the number of people receiving unemployment checks continued to fall for the last 8 weeks, dropping by 7% from the previous week.
Mortgage rates hit another record low this week, for the twelfth time since the beginning of the year.
According to the latest release, existing-home sales rose 21% in September from one year earlier while new home sales rose 32%.
Sales/acquisitions of commercial real estate continued to contract in the third quarter, but the decline was smaller in the third quarter compared to the second quarter.
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