“The U.S. economy is still considerably short of the two goals assigned to the Federal Reserve by the Congress of low and stable inflation and maximum sustainable employment.” –Janet Yellen. That statement by the Chair of the Federal Reserve yesterday sent Stock and Bond prices up in the late afternoon. But Bonds are at the top of a falling channel, meaning that mortgage interest rates are rising if they don’t break out here.
CoreLogic reported that home prices rose 0.8% from January to February, and 12.2% since last February. This month marks the 24th consecutive month for price increases. This is great information to pass on to your clients who are putting off buying a home. That same house will cost them a lot more money this time next year.