Mortgage Market Weekly – Update Mar 16, 2015

In This Issue…

Last Week in Review: Winter put a damper in February Retail Sales, while Freddie Mac expects 2015 to be a great year for home sales and new construction.

Forecast for the Week: A Fed meeting is ahead, plus key reports on housing and manufacturing.

View: The first quarter of 2015 is nearly over. Perform a quick success check-in with these six tips.

Last Week in Review

“Feel the heat.” Robert Palmer. Feel the chill is a more apt description of what retailers experienced in February, as the harsh winter weather put a damper on sales.

retail-sales_2015-03-16February Retail Sales fell by 0.6 percent, well below expectations, marking the third straight month of declines as Americans have been slow to spend the savings from lower gas prices in recent months. Sales were led lower by a decline in spending at restaurants and home improvement retailers due to the cold weather.

The Retail Sales report is the most timely indicator of broad consumer spending patterns. It is also a critical factor to watch in our economic recovery, and it will be important to see if these numbers improve once the weather warms up. [Read more…]