A quick look at the markets for the week ending July 19, 2024 ‌ 



30-Year Fixed Mortgage Rate Movement
Retail sales accelerated in July by the most since early 2023, coming in much higher than expected and signaling a resilient economy.
Inflation data showed a drop in both consumer and wholesale inflation. The Consumer Price Index fell below 3% for the first time since 2021.
Jobless claims fell for a second week to the lowest level since July, signaling the labor market isn’t weakening as much as speculated.
Builder confidence declined in August despite falling mortgage rates. Housing affordability remains a top concern for prospective homebuyers.
There are now 693K single-family homes on the market, a 1.3% increase for the week and almost 41% more than last year.
Mortgage apps reached their highest level since January 2023. Refinance apps jumped 35% and purchase apps rose 3% for the week.