Mortgage rates and the stock market both rose slightly this week. Housing starts declined in January, but are up 18.7% from a year ago. It will be a busy week on the economic calendar with New and Existing Home Sales, CPI, and GDP being released.
Last week in the economy:
- The S&P 500 started the week at 2,097 and rose 0.62% to end the week at 2,110.
- Mortgage rates (The national average) rose 0.05% (5 basis points) last week.
- Industrial Production rose 0.2% in January. Production is up 4.8% from a year ago.
- Housing Starts declined 2.0% in January. Housing starts are up 18.7% from a year ago.
- The Producer Price Index (PPI) dropped 0.8% in January. The PPI is down 0.1% from a year ago.
What's on the economic calendar for the week of February 23, 2015
- Monday: Existing Home Sales will be released
- Wednesday: New Home Sales will be released
- Thursday: The Consumer Price Index (CPI), Durable Goods Orders, and 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.