According to the Primary Mortgage Market Survey released by Freddie Mac, average mortgage rates decreased and hit a six-week low.
The week in which Easter falls may be at play in a stunning 32,000 drop to 300,000 in initial jobless claims. This is the largest drop in more than 10 years.
Despite a good start to the week, stocks ended mostly down after the NASDAQ plunged 2.6% Friday and both the Dow Jones Industrial Average and S&P 500 fell nearly 1%.
Total new homes on the market increased slightly last month. At 189,000, they are at their highest level since December 2010.
The S&P 500 hit a record high early Friday before fading and ending the day lower. The Dow Jones Industrial Average also closed in the red, wiping out a gain of more than 100 points from earlier in the day.
The Federal Open Market Committee met again yesterday and, as usual, the news was mixed. The unusually harsh winter created some issues with the economy. The Fed is still a bit nervous about unemployment, and they want to keep inflation at 2% a year (and not any lower). However, because things aren’t looking so bad and the housing market is definitely showing signs of recovery, the Fed is cutting back on monthly bond purchases by $10 billion a month.
Haters gonna hate, as the saying goes, and that’s perfectly fine. It’s easy for confident people to ignore that hate and prevail. But when you have haters hating on your money, it’s going to turn into a financial blunder for them or you. Let’s read some examples of financial blunders when haters hate hard.
Rising political tension in Russia caused stocks to fall to their worst level in five weeks. The S&P 500 dropped to the red zone at -1.2% while the Dow Jones Industrial Average suffered its fourth straight decline (-1.4%).
Initial jobless claims fell a very sizeable 26,000 to a much lower-than-expected 323,000. The Econoday consensus was calling for 338,000.
Teenagers can be the worst at times. It’s okay, I can say it because I used to be one. They’re moody, selfish, unpredictable and figuring out who they want to be in life – a very dangerous cocktail when you think about it. The last thing anyone wants is a teenager with any sort of entitlement or soapbox because things get out of hand quickly, as demonstrated in the stories we have in this blog. This week in financial blunders we show how teens can cost you much more money than just child-rearing costs.