Weekly Briefing - Venezuela, mortgage rates and a strong start for stocks

Here is the week in economics, explained without the jargon.

Oil markets watched Venezuela closely

Financial markets reacted to fast-moving political events in Venezuela early in the week, including statements from President Trump about the country’s future and its oil reserves. Oil prices dipped slightly as trading opened, and shares of oilfield-services companies rose as investors weighed what changes in Venezuela could mean for global oil supply going forward.

December hiring cooled, but stayed positive

Employers added about 50,000 jobs in December - fewer than expected, but still a positive number. A slower pace of hiring is not the same as job losses; it usually signals employers being more cautious rather than pulling back entirely.

A push for cheaper mortgages

The White House directed officials to buy mortgage bonds, an unusual step aimed at pushing homebuyer borrowing rates down. Homebuilder stocks jumped sharply on the news, since cheaper mortgages generally mean more people can afford to buy.

What it means for you

Stock markets opened the year at record highs, and the effort to lower mortgage rates is worth watching if you are house-hunting. Nothing here demands urgent action, but it is a good week to keep an eye on borrowing costs.