Weekly Economic Review: Stocks Comeback While Mortgage Rates Continue to Drop.

Posted by Laine Smith on 1/23/15 6:17 PM

Topics: Economy

Stocks had a nice recovery this week, rising 1.61%. Mortgage rates (the national average) continued to slip, dropping another 2 basis points (0.02%). We received good housing news as Housing Starts and Existing Home sales both rose in December. 

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Last week in the economy:

  • The S&P 500 started the week at 2,019 and rose 1.61% to end the week at 2,052
  • Mortgage rates (The national average) dropped 0.02% (2 basis points) last week. 
  • Existing Home Sales rose 2.4% in December. Sales are up 3.5% from a year ago.
  • Housing Starts rose 4.4% in December. Starts are up 5.3% from a year ago.
  • The markets were closed on Monday because of Martin Luther King Jr. day

 

What's on the economic calendar for the week of January 26, 2015:

  • Tuesday: New Home Sales and Durable Goods  will be released
  • Wednesday: FOMC Announcements (Monetary policy body of Federal Reserve System)
  • Thursday: Jobless claims will be released
  • Friday: GDP will be released

 

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Our trusted source for all economic news is First Trust Portfolios out of Wheaton, IL. For greater insights on these figures check out their blog here.

 

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