Home Sales Slipped in September Keeping Mortgage Rates Unchanged
The most significant economic data released this week came from the housing sector. In September, sales of previously owned (existing) homes, which make up about 90% of the market, fell a little more than expected from August but still were 4% higher than a year ago....
Want to know where the rates are headed? You might want to look at the stock market.
The stock market does not directly influence rates, but is a very good indicator on where rates may be going. I have mentioned in the past that bad news in the economy normally means rates will be decreasing. This is not always true, but most of the time it is. How...
Perfect storm for lower rates
Here comes the perfect storm for rates. You may want to get your refinance application in today. Or lock your purchase loans as this may be a small window that may only last for the next month or so. Remember: the rates are priced for what we think is going to...
Stagflation concerns making it difficult for the federal reserve to make a rate cut in October
There is a lot going on in the markets these days. Stagflation concerns are making it difficult for the federal reserve to make an additional rate cut in October. Some say it is about a 55% chance they cut rates. Recently, conventional thinking had it at a 99%...
Tweets Shown to Have ‘Significant’ Effect on Trading
President Donald Trump’s Twitter tweets regarding the Federal Reserve are prompting investors to bet the central bank will bow to political pressure and lower interest rates. Trump has frequently used social media to criticize the Fed and Chairman Jerome Powell for...
Overnight Repo Operation
On Tuesday morning, the NY Fed launched what's called an "overnight repo operation," during which the central bank attempts to ease pressure in markets by purchasing Treasuries and other securities. The goal is to pump money into the system to keep borrowing costs...
Millennials are at risk if there is another recession
The last time there was a recession, I was in my late 20s. Not only did we have to pay more in rent, but I was paying more for consumer goods, student loans, groceries...basically everything. I found this article an interesting read. It seems that millennials are...
Are we heading for a recession?
Recent recession fears have been brought on by the yield of the 10-year Treasury dropping below that of the 2-year. This "yield curve inversion" in the past signaled a recession starting an average of 18 months out. Many cooler economic heads noted such inversions...
Take control of your credit with a credit freeze
If you are worried about identity theft, data breaches, or unauthorized access to your credit report, you should place a credit freeze on your report. Also known as a security freeze, this free tool lets you restrict access to your credit report. This makes it harder...
Take control of your credit report with a credit freeze
If you are worried about identity theft, data breaches, or unauthorized access to your credit report, you should place a credit freeze on your report. Also known as a security freeze, this free tool lets you restrict access to your credit report. This makes it harder...