For the Week Ending April 21, 2017 Please enjoy this quick update on what happened last week in the housing and financial markets. March’s Consumer Price Index, which measures inflation at the consumer level, declined 0.3% on a year-over-year basis. Decreasing inflation is good for rates. While jobless claims were up slightly this week, the total number of people collecting unemployment benefits dropped to the lowest level in 17 years. The Fed meets again in May to decide about rate policy. An increase is not likely at this time; however, two more increases are expected this year. Housing starts were down 6.8% in March, but February’s numbers were corrected higher. The drop is largely blamed on poor weather and winter storms. Pointing to underlying strength in the housing market, building permits increased 3.6% in March. Multi-family home permits surged 13.8% from February. Homebuilders continue to be optimistic heading into the spring, with the NAHB index at 68. High demand for new construction homes continues. Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time.