Weekend Update

Date

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. 

7/12/2024

Fed members seem to be leaning towards a rate cut. We may be on the cusp of things turning around finally!

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5/31/2024

-PCE (personal consumption expenditures) shows all-in inflation rose .3% for the month which was expected.

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3/8/2024

Used care prices fell .1 year over year and fell .8% in February. Car sales play into inflation numbers

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