Mortgage Interest Rates Today for March 7, 2023: Rates Increase – CNET
Mortgage Interest Rates Today for March 7, 2023: Rates Increase CNET
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Housing Market Tracker: Mortgage rates fall after SVB failure
Mortgage rates fell last week after the failure of Silicon Valley Bank spooked bond traders worried about contagion.
What Is the Average Stock Market Return?
Wondering how much you’ll gain by investing in stocks? It helps to look at the average stock market return for the last 10, 20, and 30 years.
The post What Is the Average Stock Market Return? appeared first on SoFi.
Fed discusses easing access to discount window to help banks
The Federal Reserve is considering easing the terms of banks’ access to its discount window, giving firms a way to turn assets that have lost value into cash without the kind of losses that toppled SVB Financial Group. Such a move would increase the ability of banks to keep up with demands from depositors to … [Read more…]
New Normal For Labor Market Data
After a ho-hum and mostly sideways overnight session, bonds are starting the day with a surprisingly swift reaction to the Jobless Claims data. While this report may seem similar to the big monthly jobs report (after all, both generate an unemployment rate), they have never been in the same league when it comes to market movement potential. To be sure, that is still the case, but the difference now is that markets are clearly expressing at least some interest in the weekly Claims data in terms of volume and volatility–something we’ve only seen a handful of times, ever. We can further confirm the nature of the market’s reaction by considering stocks as well. In fact, both before and after the Claims data, stocks and bonds traded in their “Fed Friend or Foe” pattern. This happens when data suggests a friendlier Fed and both sides of the market rally or when data suggests a more hawkish Fed and both sides of the market sell-off. In other words, the equally noticeable rally in stocks at exactly the same time as bonds suggests the market is definitely trading Jobless Claims for its impact on Fed policy. Here’s the biggest takeaway: if this data was worth this much of a reaction, then the potential impact of tomorrow’s jobs report is more massive than normal.
Older borrowers face higher barriers to homeownership, Fed says
Age is not just a number, but a potential barrier to refinancing a mortgage, a report published by the Federal Reserve Bank of Philadelphia argues. The analysis, which looked at confidential Home Mortgage Disclosure Act data from 2018 to 2020, concluded that being older can have a negative outcome on mortgage applications. Older borrowers were … [Read more…]
Here Are Today’s Mortgage Rates on March 3, 2023: Rates Tick Up – CNET
Here Are Today’s Mortgage Rates on March 3, 2023: Rates Tick Up CNET
Opinion: Setting the record straight on IMBs
The CHLA report rebuts the myth that âIMBs are unregulated” by listing the raft of consumer regulations that apply to IMBs.
Savings window opens: Today’s 30-year mortgage rates dive to 13-day low | March 10, 2023 – Fox Business
Savings window opens: Today’s 30-year mortgage rates dive to 13-day low | March 10, 2023 Fox Business
Mortgage Rates Remain Elevated, But Bigger Volatility is Coming
There’s probably not going to be any way around it. However volatile rates may have been in the past 2 weeks, they’re at risk of much larger swings in the 2 weeks ahead. I’m intentionally avoiding commenting on the first few weeks of February because it’s not a given that the upcoming movement will be any bigger than that. From February 2nd through the 15th, the average 30yr fixed rate increased by a whopping 0.75%. Since then, we’ve drifted up and over 7% as the market waits on several highly consequential economic reports. That brings us to the rationale behind calls for higher volatility. The big jobs report coming up on Friday and the Consumer Price Index (CPI) on deck next week are the two most relevant economic reports month in and month out right now. This week’s comments from Fed Chair Powell reiterate the possibility that the Fed could increase the pace of its rate hikes if the data comes in hot enough. As always, financial markets will adjust for that possibility immediately following the release of the data. In other words, traders won’t wait for the Fed to actually hike by a larger amount before selling bonds. When traders sell bonds, rates rise, all other things being equal. That means mortgage rates would quickly move to even higher levels if Friday’s jobs report is much stronger than expected. Conversely, if the report is weaker, rates would likely recover by a larger amount than any of their recent winning days. The movement seen so far this week is more of a placeholder by contrast. Today happened to be bad, with the average lender drifting slightly higher into the low 7% range for top tier 30yr fixed scenarios. [thirtyyearmortgagerates] [volatilityindex]