The U.S. economy expanded at a healthy pace in the fourth quarter, though an extended salvo of Federal Reserve interest-rate hikes is seen jeopardizing growth prospects this year. Gross domestic product increased at a 2.9% annualized rate in final three months of 2022 after a 3.2% gain in the third quarter, the Commerce Department’s initial … [Read more…]
Mortgage rates for 30-year fixed mortgages increased this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 3.39 percent, up from 3.25 percent at this same time last week.
Mortgage Rates Still in Good Shape After Fed Minutes Mortgage News Daily
Vanguard has released its January 2023 investment and economic forecasts, and there are some interesting projections that all investors should consider. The forecast predicts faster economic growth in China than in the U.S. or Europe. When looking at investments, Vanguard ⦠Continue reading â
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Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on…
The unrelenting Fed policies to combat inflation will eventually instigate an economic recession sometime in 2023.
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.
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