fed
How the housing market will evolve in 2023
The unrelenting Fed policies to combat inflation will eventually instigate an economic recession sometime in 2023.
Small Scale Volatility Against Bigger-Picture Holding Pattern
Small Scale Volatility Against Bigger-Picture Holding Pattern Bonds took several opportunities to react to econ reports that don’t typically merit much of a reaction today. We saw similar behavior early in January and it made good sense in a time where markets are extra hungry for every tidbit of economic guidance. After all, everyone is waiting to see if inflation is really defeated and how soft the landing might be from the Fed’s inflation fighting efforts. Buyers were ultimately ready to buy as soon as data-driven selling pushed yields back to yesterday’s highs. A strong 2yr Treasury auction added emphasis to the move, but despite the apparent intraday volatility, yields remain well within the prevailing range. Econ Data / Events Philly Fed Services Index -6.5 vs -12.8 prev New Orders 10.8 vs -2.1 prev Employment 16.5 vs 5.4 prev S&P Global Services PMI 46.6 vs 45.0 f’cast, 44.7 prev S&P Global Manufacturing PMI 46.8 vs 46.0 f’cast, 46.2 prev Market Movement Recap 09:54 AM Some weakness after 8:30am data and additional weakness after PMI data at 945am. MBS down an eighth and 10yr up 2.9bps at 3.549. 11:03 AM Rallying since 10am. Richmond Fed data and ECB newswires coincided with the rally, but don’t necessarily explain it. 10yr down 3.5bps at 3.484. MBS up 2 ticks (0.06). 01:40 PM Best levels of the day in Treasuries with 10yr down 5.7bps at 3.464. MBS up nearly a quarter point 03:50 PM New lows for 10yr yields, down 6.3bps at 3.458. MBS near highs, up a quarter point in steady, surprisingly liquid trading considering the time of day.
30-Year Fixed Mortgage Rates Fall Below 4% for First Time Since June
The mortgage rate for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on…
Mortgage rates rise back above 7% – CNN
Mortgage rates rise back above 7% CNN
More Good News for Mortgage Rates on the Horizon
Despite the fact that mortgage rates are already in record territory, the Fed doesnât seem to be satisfied just yet. The Federal Reserve has played a part in pushing mortgage rates lower via a strategy known as âOperation Twist,â which is the method in which they replace their short-term debt holdings with long-term debt. That… Read More »More Good News for Mortgage Rates on the Horizon
The post More Good News for Mortgage Rates on the Horizon appeared first on The Truth About Mortgage.
30-Year Fixed Mortgage Rate Drops to New Record Low For Third Consecutive Week
Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on…
Responsive to Data But Still Range-Bound
After having a case of the Mondays yesterday (unclear motivations and range-bound weakness amid low volume and light liquidity) bonds are back in the office and experiencing some more logical reactions to econ data, even if they have to teach for reports that normally wouldn’t move the needle. S&P Global (formerly “Markit”) PMI data is the lesser of the two PMIs in the US despite being the most relevant PMI data in Europe. It has had more and more of an impact over the past few years and today’s example was clear. Nonetheless, bonds are finding a reason to push back into stronger territory as the morning progresses. There were a few rate-friendly newswires from the ECB that helped the recovery as well as some downbeat econ data from the Richmond Fed, but those factoids could just as easily be argued to be “analysis chosen to fit the trading.” In the bigger picture, the range remains the dominant theme as markets wait for a clearer sense on how a potential Fed pivot (and inflation/econ pivot) may unfold. Despite the small scale volatility, bonds remains very much range-bound between 3.42 and 3.62. Today’s resilience also incidentally makes for the 3rd day in 2 weeks where 3.55-ish has come into play as a supportive ceiling–just something to watch in the coming hours and day in the event bonds start losing ground again.
30-Year Fixed Mortgage Rates Rise Slightly for Second Consecutive Week
Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.16 percent, up from 4.11 percent.
The 29 Best Side Hustles, Plus Resources to Help You Succeed
Side hustles can be a great way to boost your income and pursue your passions. Here are 10 of the best side hustles to consider.
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