Quick Market Insights - CRESTICO Local Real Estate Mortgage Broker
26 Oct 2024 · 1 min
0:58
In this brief market update, the speaker reports that U.S. economic activity has been flat since early September. Household debt reached $20.2 trillion in Q2, with a delinquency rate of 2.74%, the highest level in almost 12 years. Continuing unemployment claims rose to 1.9 million—a three‑year high—while initial claims fell, indicating mixed signals for the labor market. In the housing sector, September single‑family home sales increased 4.1% to 783,000 units, with a median price of $426,300. Overall home sales are at a 14‑year low, driven by election‑related uncertainty and rising mortgage rates. Mortgage applications have dropped 5% for purchases and 8% for refinances. The video concludes with a thank‑you to viewers.
