Weekly Market Observations - February 26, 2025

Here’s Our Weekly Market Observations :

Economy

🔼 Inflation spikes with January CPI above expectations up 0.5% MOM and 3% YOY

🔼 Wholesale prices above expectations with PPI up 0.4% MOM and 3.4% YOY

🔼 January jobs report lower than expected with 143k jobs added

🔽 Unemployment in January falls to 4%

↔️ The Fed leaves rates unchanged in January

Housing Sales

🔽 January home resales in fell 4.9% MOM but increased 2% YOY

🔼 Resale prices increase 4.8% YOY to $396,900

🔼 Existing home inventory increased from 3.0 to 3.5 months YOY

Housing Construction

🔽 Total January housing permits dropped 1.7% YOY

🔽 Single-family permits were unchanged MOM and down 3.4% YOY

🔽 Single-family starts drop 8.4% MOM and 1.8% YOY

🔽 Multifamily permits decreased 17.4% MOM but increased 0.2% YOY

🔽 Multifamily starts drop 11% MOM but up 2.3% YOY

Mortgage

🔽 Average 30-year fixed mortgage: 6.85%