Headlines discussed at LNWM’s Monday morning briefing:
— The US economy added a stronger than expected 225,000 in January, as warmer winter weather helped with hiring.
— The Federal Reserve said risks to the US economy are easing, but called out the coronavirus as a threat.
— A key index for US manufacturing activity moved into expansion mode in Jan, hitting 50.9 in Jan. vs. 47.8 in Dec.
— China said it would halve tariffs on 1,700 US imported products, as part of Phase 1 of the US-China trade agreement.
— US mortgage rates have dropped to lowest level since Oct. 2016 — 3.45% on 30-year, 2.97% on 15-year loans — providing support to real estate market.
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