The Fed cut rates by 0.25% and signaled slower cuts ahead, keeping mortgage rates high. November retail sales beat expectations and Q3 GDP was revised up to 3.1%. Existing home sales hit their biggest year-over-year jump since 2011, though builders remain cautious about prices and rates.
A quick market insights. The Fed cut rates by 0.25% and plans slower cuts in 2025, boosting mortgage rates. November retail sales exceeded expectations, showing strong economic momentum. Revised 3rd quarter GDP growth of 3.1% beat the initial 2.8% estimate, highlighting the economy's resilience and supporting positive trends in retail sales. November existing home sales surged, marking the largest annual gain since 2011, driven by higher inventory. Single-family housing starts rose 6.4%, with building permits up 0.1%. Builders' sentiment remained steady, balancing high prices and rates with hope for a better regulatory climate in 2025. Thank you for watching.
