Weekend Update
Date
- 02/09/2024
Market Update
- 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.
- CBO anticipates unemployment will rise to 4.4% by end of 2024 which indicates the Fed might start to cut rates starting 2nd quarter of 2024. Cross your fingers!!
- FNME home purchase estimate index rose to highest level in almost 2 years. However 83% still think it’s not a good time to buy right now, but this number increased because most people feel good about their jobs, inflation coming
down, and they think rates will come down. - Initial jobless claims fell 9,000 to 218,000. Continuing claims fell 23,000, but these levels are the highest since 2021. Once people lose their jobs, it’s hard to find a new one.
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.
