Rise above the panic, for the housing market’s sake
While an influx of defaults could certainly harm banking institutions, this is the fear mongering I advise my team and my clients to avoid.
While an influx of defaults could certainly harm banking institutions, this is the fear mongering I advise my team and my clients to avoid.
There are signs that the labor market may be slowing down, sparking hope that the Federal Reserve will stop its ongoing tightening monetary policy, which has spurred increasing mortgage rates.
The Federal Reserve’s overnight repo facility has been utilized by money market funds to a large extent, and may be contributing to dramatic outflows of deposits from banks since the failure of Silicon Valley Bank and Signature Bank last month.Bloomberg News Deposit flows after a pair of high-profile bank failures last month have renewed a … [Read more…]
It seems like only a few weeks ago that the average 30yr fixed mortgage rate was surging up to 7% from 6% just a few weeks earlier. In fact, it doesn’t just seem that way. That’s exactly what happened on March 2nd. Rates remained near 7% through March 9th, but quickly began to fall after the Silicon Valley Bank failure. Since then, additional concerns about the banking sector and a slew of weaker economic reports have kept downward pressure on rates. This week’s reports have been especially helpful. Today’s installment featured the most widely followed report on the services sector coming in much lower than expected. A sub-component of that report suggested the lightest inflation pressure since mid 2020. Rates are determine by bonds. Excess demand for bonds = lower rates. Investors buy more bonds when the economy is weakening and inflation is less threatening. All that to say that the present drop in rates is exceedingly logical based on the economic data. The two biggest economic reports of any given month will hit over the next few business days (Friday’s jobs report and next Tuesday’s Consumer Price Index). If these reports sing a similar tune to the data seen so far this week, rates could soon be under 6%. If they come in unexpectedly higher, rates could move quickly back up into the mid-6% range.
Good news for homebuyers. Mortgage rates just dropped again CNN
Despite receiving considerably less attention than cities like Cleveland and Cincinnati, Columbus, is actually Ohioâs largest city by population. There are plenty of elements that make living in Columbus increasingly popular, from its affordable cost of living to the abundance of outdoor recreation. However, like any city, it’s not without its drawbacks. Whether or not …
Is Columbus, OH a Good Place to Live? 10 Pros and Cons to Consider Read More »
The post Is Columbus, OH a Good Place to Live? 10 Pros and Cons to Consider appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.
Skyscraper office and apartment buildings in major cities such as Seattle face rising vacancy rates in the pandemic era. Maturing commercial real estate debt could become the next big concern for smaller banks, and lenders’ exposure to this corner of the credit market is sure to draw attention during the earnings season that gets underway … [Read more…]
âRecessionâ can be a scary word, but economic contractions are fairly common throughout the history of the United States. In fact, theyâre perfectly normal parts of the overall business cycle, during which the economy expands, contracts, and then expands again. Itâs during certain contractions, which we usually refer to as recessions, that life can get […]
The post The History of US Recessions: 1797-2020 appeared first on SoFi.
Wealth advisors are a subset of the greater financial advisor world, and they typically (but not exclusively) help high-net worth individuals or families manage their assets, and plan for the future. Wealth advisors, or wealth management advisors, usually work with wealthy people or families with at least $1 million in liquid assets (i.e. not including […]
The post Guide to Wealth Advisors & What They Do appeared first on SoFi.
US pending home sales rise for third straight month; loan demand … Reuters