Houtan HormozianExpert on Real Estate, Finance and PropTech

Markets in a Minute: Latest Economy & Housing News Update

15 Jun 2024 · 1 min

Watch on YouTube

1:13

This content was created by Houtan Hormozian. This content was uploaded by Houtan Hormozian. This is a YouTube video titled "Markets in a Minute: Latest Economy & Housing News Update" (published June 15, 2024). It’s a short market-news/market-commentary segment delivered by a single presenter summarizing recent economic and housing data: wholesale inflation fell unexpectedly (largest decline in seven months), inflation cooled in May with prices flat, the Fed left rates unchanged but signaled possible cuts later in the year, Angie.com and Fannie Mae survey findings on homeowner surprises and buyer/seller sentiment, and a jump in mortgage applications. The clip closes with a Napoleon Hill quote.

Chapters

Markets in a Minute. Wholesale inflation unexpectedly declined the most in 7 months, adding to evidence that inflationary pressures are moderating. Inflation cooled more than expected in May, dropping for the second straight month. Prices were flat for the first time since July 2022. The Fed left its policy rate unchanged at this month's Fed meeting and signaled it may cut rates 1 or 2 times by the end of the year. Angie.com found 19% of owners were most surprised by the cost of improvements during the first 6 months in their new home. Total mortgage applications surged nearly 16% for the week, with purchase apps rising 9%. In Fannie Mae's May survey, 86% of consumers believe now is a bad time to buy a home, while 64% said now is a good time to sell. Thanks for watching. The last word. It takes half your life before you discover life is a do-it-yourself project. Napoleon Hill.