Weekend Update
Date
- 01/26/2024
Market Update
- Things are looking up!! The Fed’s favorite reading is Core CPE which stands for Personal Consumption Expenditure. The Fed wants to see this at 2%.
- Core CPE increased by .17%, to 2.6%, BUT year-over-year it went from 3.2% to 2.9%. This should continue to go down.
- Core CPE strips out food and energy costs. Housing increased by .46% last month and is up 6.4% yoy, previously it was at 6.7%
- Personal income rose .3%, but spending rose .7% and savings rate fell to 3.7% meaning people are struggling
- Pending home sales rose 8.3%!! Expectation was 1.3%.
- 30+ days delinquent mortgages rose from 2.8 to 2.9%
- 90+ days remained at the lowest level in 25 years at .9%
3/8/2024
Used care prices fell .1 year over year and fell .8% in February. Car sales play into inflation numbers
2/9/2024
Bonds are a little down right now so we recommend locking at the moment Congressional Budget Office says the deficit is no 1.6 T. They think it will increase 60% in the next 10 years if nothing was added. That is extremely unlikely.
08/25/2023
The big news this week is that the Feds are meeting in Jackson Hole, Wyoming for their big symposium
08/18/2023
It’s been a rough week for mortgage rates. I know we are all feeling it. HANG IN THERE!
05/26/2023
Credit Rating Agency Fitch said it is moving the US to “rating watch negative” Fitch is one of the 3 major credit rating agencies.
