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Market Movement January 16, 2024

Notable News

  • CMG Financial announces new All In One Loan One-Time Close Construction-To-Permanent Program Read Now >>

  • HousingWire Lead Analyst talks about how many homes will see price cuts this spring Listen Now >>

  • Consistent cash flow from home builders likely in 2023. Watch Now >>

Market Recap

  • Consumer credit rose 23.75 B in November, over 2x the expected amount.

  • Mortgage application submissions jumped a composite 9.9% during the week ending 1/5. The holiday adjusted Refinance Index increased 19% from the previous week and was 30% higher than the same week one year ago. The seasonally adjusted Purchase Index increased 6% from one week earlier.

  • The consumer price index was at 0.3% month-over-month and 3.4% year-over-year - higher than expected. The core monthly index was right in line at 0.3% month-over-month, which was as expected.

  • Initial jobless were at 202,000 during the week ending 1/6, a slip of 1,000. Continuing jobless claims slumped by 34,000 during the week before.


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