While it’s not a set deal, the Federal Reserve does appear to be on track for a June rate cut, and following its two-day policy meeting, the central bank’s rate-setting Federal Open Market Committee said it will keep its benchmark overnight borrowing rate in a range between 5.25%-5.5% until then. Additionally, the government has also avoided another shut down as a series of rushed bills had approved spending for the government by another 1.2 trillion dollars. This is good news … [Read more...]
What’s Ahead For Mortgage Rates This Week – March 18th, 2024
Last week’s inflation data came in at a higher rate than expected, with Price Producer Index (PPI) numbers showing more than double the expected inflation gain.With both CPI and PPI being over the target, the steadfast certainty that the Federal Reserve will cut rates has now taken a step back, resulting in more tamed expectations for the near future. With a mixed response from lending partners, this may end up rapidly changing in the next round of discussions with the Federal Reserve's … [Read more...]
What’s Ahead For Mortgage Rates This Week – March 11th, 2024
With a focus on the upcoming inflation data reports with CPI and PPI this week, the previous week was very light on data. The only relevant reports released were the non-farm payroll and U.S. trade balance data releases. Job reports are showing robust hiring numbers and the trade balance remains within expectations. There appears to be to not much to fear coming from this next round of inflation data. Lending partners are reflecting this sentiment as they continue to cut rates. Non-farm Payrolls … [Read more...]
What’s Ahead For Mortgage Rates This Week – March 4th, 2024
A number of important consumer related data reports were released last week, giving us a clearer picture on inflation impacts and the state of the economy on a broader scale. First up, looking at the First Revision of GDP numbers, we are seeing they had fallen slightly below expectations, but still showing the economy has not deflated at all as of the result of the prior years’ repeated rate hikes. With inflation trending down, this makes for a convincing argument that rate cuts are due … [Read more...]
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