Weekend Update
![](https://loanscanbefun.com/wp-content/uploads/2023/09/DSC06303-scaled.jpg)
Date
- 08/25/2023
![](https://loanscanbefun.com/wp-content/uploads/2023/09/5-26-23-Weekend-Update.jpg)
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Market Update
- Credit Rating Agency Fitch said it is moving the US to “rating watch negative” Fitch is one of the 3 major credit rating agencies.
- Kevin McCarthy says he thinks we’re going to get a deal done on the debt ceiling soon. If a deal gets done, it can help as long as they don’t throw in a bunch of new spending.
- Some of the Fed members are still saying they think they should do some more hikes, but indications are that they’ll pause or not do it at all.
- 60% chance of a pause at the next meeting in June
- Pending home sales on existing homes was flat from previous month, 20% down year-over-year. Big decline in sales in the North East, but everywhere else actually sold more. Not enough inventory is the cause.
- 30 day delinquencies went from 3% to 2.6%, 90+ went up 1.2% to 1.4% People are struggling. Foreclosures are at .3%.
- PCE is coming out tomorrow and it won’t move the market much. The Core rate is coming up in June 13th and that number should be favorable.
![](https://loanscanbefun.com/wp-content/uploads/2024/07/DSC06278-1024x683.jpg)
7/26/2024
PCE came in this morning. It wasn’t as low as we’d hoped, but mortgage-backed securities are actually doing ok and going the right direction.
![](https://loanscanbefun.com/wp-content/uploads/2024/07/DSC06171-1024x683.jpg)
7/12/2024
Fed members seem to be leaning towards a rate cut. We may be on the cusp of things turning around finally!
![](https://loanscanbefun.com/wp-content/uploads/2024/05/DSC07653-1-1024x683.jpg)
5/31/2024
-PCE (personal consumption expenditures) shows all-in inflation rose .3% for the month which was expected.
![](https://loanscanbefun.com/wp-content/uploads/2024/05/56d0283db80fe2492-1024x683.jpg)
5/24/2024
The market is going back and forth. We make some progress and then it reverses.
![](https://loanscanbefun.com/wp-content/uploads/2024/05/1-1024x692.jpg)
5/10/2024
There is not a ton of news for this week, but the big CPI report comes out next week.