The Market in a minute.

For the Week Ending August 21, 2015
Please enjoy this quick update on what’s happening this week in the housing and financial markets.

The Consumer Price Index rose slightly in July, but inflation is still not a concern. Inflation leads to higher rates, so no risk of inflation helps rates remain low.
The minutes from last month’s FOMC meeting showed the Fed is struggling to justify raising policy rates. Expectations of a September rate increase are falling.
Problems in China’s economy and low oil prices are causing global concern. Mortgage bonds are benefitting from the weakness, supporting lower rates.

The Homebuilder Index rose to its highest level in almost a decade. Homebuilders view market conditions as favorable and are optimistic about future sales.
Housing starts rose to a near 8-year high in July, led by construction of single-family homes. A strong housing market indicates an improving economy.
Building permits were down slightly in July, but that follows three straight months of hefty increases. Permits are expected to improve again for August.

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