Itâs a sellerâs market in Utah. Intense competition for a limited supply of homes has made getting into a home difficult. That leaves many prospective […] Read More
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Long gone are the days where the market waits to find out he size of a rate hike/cut. The current regime clearly communicates these things ahead of time and takes what the market gives. Right now, 25bps has been communicated and also priced-in by the market. That won’t be a surprise. Less obvious, but still likely surprising to some will be the way Powell delivers the message in the press conference. Hopefully markets haven’t confused a “smaller rate hike” with a softer stance from the Fed. Powell’s message will likely reiterate that fact. The big question is whether the average trader appreciates and understands the Fed’s stance. They probably do, based on the reluctance to challenge the prevailing range in the past 3 weeks, but we’ll find out for sure after 2:30pm ET.
If inflation stalls out and mortgage rates fall toward 5%, we can stop the bleeding in the one sector that is in a recession.
After peaking in the second quarter of 2006 and reporting its first year-over-year decline in January of…
Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on…
Financial literacy is the ability to understand and use money skills to maintain your personal finances. This mostly applies to simple money skills the everyday person uses, like building a grocery budget and saving for a rainy day and retirement. Our first experiences with money typically begin when we get our first allowance or cash
The post 2020âs Most and Least Financially Literate States appeared first on MintLife Blog.
The Federal Reserve slowed its drive to rein in inflation and said further interest-rate hikes are in store as officials debate when to end their most aggressive tightening of credit in four decades. Policymakers lifted the Fed’s target for its benchmark rate by a quarter percentage point to a range of 4.5% to 4.75%. The … [Read more…]
Markets Surprisingly Surprised by Unsurprising Powell Comments We were pretty sure we knew what Powell would generally say in today’s press conference. He turned out to be generally predictable. After all, there are really only two things the Fed can think or say right now: A) still need to see more progress on inflation and B) data will determine when our job is done. Despite Powell’s unsurprising comments, the market was apparently surprised (or relieved?). This is surprising considering the simple list of routes in the Fed playbook. Perhaps it’s as simple as the market being overly prepared for a Hawkish smackdown from Powell and instead getting a logical approach. Econ Data / Events ADP Employment 106 vs 178 f’cast, 253 prev ISM Manufacturing 47.4 vs 48.0 f’cast, 48.4 prev ISM Prices 44.5 vs 39.4 prev Job openings and labor turnover survey (JOLTS) 11.012 vs 10.44 mln prev Market Movement Recap 08:38 AM Flat in Asia. Slightly stronger in Europe. Additional gains after ADP Employment data. 10yr down 4bps at 3.472. MBS up nearly a quarter point. 10:24 AM Weaker into and out of the 10am data. Still stronger on the day, but at weakest levels. MBS down 1 tick (0.03) in 5.0 coupons. 10yr down 1.3bps at 3.499 12:09 PM Decent recovery now. MBS up at least an eighth in 5.0 coupons. 10yr down 3.5bps on the day at 3.479. 03:11 PM Almost exclusively positive in response to the Powell press conference. 10yr down 11bps at 3.402 and MBS up half a point.
As expected, the Fed slowed the rate hikes in 2023 amid cooling inflation data, sparking hopes of a recovery for the housing market this year.