Weekend Update
Date
- 03/08/2024
Market Update
- Used care prices fell .1 year over year and fell .8% in February. Car sales play into inflation numbers
- Powell said if the Fed waits too long or cuts too little, it can cause economic slowdown and hurt job market…duh.
- Rent is causing inflation numbers to stay high as this hasn’t really decreased as hoped.
- Equity rose 8.6% year over year!! Woohoo!
- 1.2% of all homes have negative equity which is a pretty low number.
- Jobless claims remains about the same, employers are trying to keep employees.
- However, continuous claims rose and it is the second high number since Nov 2021. It’s hard to find a job once you lose one.
- January and February had the largest amount of layoffs since 2009 so some of the numbers are lagging.
- BLS report comes out today for the month of February. Estimated 200,000 job creations.
- Most likely will be revised. Market reacts to the BLS report and not so much the revisions.
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.
