Here’s this week’s quick look at the markets for the week ending November 17, 2023  ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ 



30 Year Fixed Mortgage Rate Movement
Consumer inflation came in better than expected for October, supporting expectations the Fed may be done raising rates to fight it.
Wholesale inflation also came in much lower than expected in October, reversing a 3-month trend and falling by the most since 2020.
New unemployment applications were up last week, and continuing claims rose to their highest level in almost 2 years.
  
Homebuilder confidence weakened in November, as 36% of builders reported discounting prices an average of 6%. 
Mortgage demand climbed to the highest level in 5 weeks after mortgage rates moved lower. Purchase applications rose 3% for the week.
Nearly 40% of recent homebuyers younger than 30 used a cash gift from family or an inheritance toward their down payment, according to Redfin.
  
“You just can’t beat the person who never gives up.”
Babe Ruth