Weekend Update
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Date
- 05/24/2024
![](https://loanscanbefun.com/wp-content/uploads/2024/05/5-24-2024-Weekend-Update.jpg)
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Market Update
- The market is going back and forth. We make some progress and then it reverses.
- S&P global index (covers manufacturing and services, but excludes retail) shows stronger numbers than expected. However, you and I know that retailers seem to be struggling.
- Barry Habib says that it’s likely that the Feds won’t decrease rates until unemployment gets to 4.1-4.2%.
- Consumer spending is just barely starting to slow.
- Credit Card usage has hit record highs.
- The “buy now/pay later” accounts have a 43% delinquency rate right now.
- Car insurance and Shelter costs are the major two items causing inflation to be high and the government doesn’t have much control over these.
- New home sales for April are were down 8.5% month-over-month. Median home price is $434,000 because a lot of people sold their lower priced homes.
![](https://loanscanbefun.com/wp-content/uploads/2024/01/cropped-2024-01-22_lcbf_nmls_logo_2x-1024x1024.png)
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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.