Weekly Economic Review: Mortgage Rates flat; Stocks rise 1.19%

Posted by Laine Smith on 11/23/14 4:30 PM

Topics: Economy

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. 

 The_SP_500__Increased_2.7_last_week

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.

 

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