The KUIK Closing Market Report for Wednesday, December 28:
Markets were down.
Index
Direction
Change
Units
Index
Time
Change
Dow
Down
(111)
points
19,834
1:49 PM
S&P500
Down
-0.8%
percent
2,250
(18.96)
Nasdaq Composite
Down
-0.9%
percent
5,439
(48.89)
30 Year Treasury
Down
(6)
Basis Points
3.08
Annual Yield
The Index of Pending Home Sales from the National Association of Realtors fell to 107.3 in November down from October’s 110. Ther drop is due to higher interest rates. The 30-year fixed mortgage has surged from 3.59% before the election to 4.36% and is almost a full percentage point higher compared to just six months ago. Pending home sales fell the most here in the West, but also fell in the South and Midwest. Only the Northeast saw an increase.Despite fewer pendings in November, more homes are expected to be sold in 2016 than any year since 2006.
Serving the West Side first I am Bill Roller of BR Capital for 1360 KUIK.
