Last week mortgage rates were nearly unchanged, with a the national average dropping slightly by 0.03%. The S&P 500 had a strong week with a 1.19% increase. We recieved good news in the housing market, with existing home sales rising 1.5% in October.
Last week in the economy:
- The S&P 500 started the week at 2,040 and climbed 1.19% to end the week at 2,064.
- Mortgage rates were nearly unchanged from the week before (dropped 3 basis points; 0.03%)
- Existing Home Sales rose 1.5% in October. Sales are up 2.5% from a year ago.
- The Consumer Price Index (CPI) was unchanged in October. CPI is up 1.7% from a year ago.
- Housing Starts declined 2.89% in October. Starts are up 7.8% from a year ago.
- The Producer Price Index rose 0.2% in October. PPI is up 1.5% from a year ago.
What's on the economic calendar for the week of November 24, 2014:
- GDP figures will be released on Tuesday
- Durable goods, jobless claims, new home sales, and pending home sales will be released on Wednesday
- The Markets are closed on Thursday for Thanksgiving
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Our trusted source for all economic news is First Turst Portfolios out of Wheaton, IL. For greater insights on these figures check out their blog here.