So the Feds raised rates 1/4% this week, and committed to another three hikes next year in their press conference. While stocks took the announcement in stride, mortgage interest rates have ticked up another notch, and are on uneasy ground at the highest rates of 2016.
This morning, we saw weak housing numbers in the new construction arena, as Building Permits dropped 18%. That may come as a surprise given all of the homes under construction, but it is cold outside and who likes to pour concrete in the cold? At any rate it’s Christmas time and I for one am going to try and work as little as possible for the next 10 days.