Markets In A Minute

December 15, 2020
Author: New England Home Mortgage

Enjoy this quick update on what happened this week in the housing and financial markets.


- Consumer prices rose 0.2% in November, as an increase in energy costs offset a drop in food prices. Overall prices are up 1.2% over last year, keeping inflation in check.

Congress continues to work on a relief plan of nearly $1 trillion, which will likely be part of a larger spending bill that may get done sometime next week.

Jobless claims surged last week to 853,000, the highest number since September 19. Continuing claims saw their first increase since August, up 230,000 to 5.76 million.


- NAR reports 1 in 3 people have transitioned to full or partial remote work during the pandemic, freeing them up to move. 8.93 million people have relocated this year.

- The pandemic economic downturn has coincided with a booming housing market. October existing home prices for all housing types jumped 15.5% over last year, according to NAR.

- Online searches for manufactured homes saw an annual increase of more than 50% from May to September. The increased interest came as single-family home prices soared.

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