Consumer spending in the world’s largest economy has been so resilient in the face of stubbornly high inflation that economists and traders have had to repeatedly rip up their forecasts for slowing growth and interest-rate cuts. Is Phantom Debt driving…
The market was anticipating a much smaller cut by the federal reserve as inflation is still high and employment and spending is holding up. The odds were about 75% for a smaller cut, but the federal reserve definitely surprised with…
The million dollar question is where do interest rates head from here. The Federal reserve has hinted at more upcoming cuts, what does this mean for mortgage rates? Does the federal reserve actually control mortgage rates? How is the…
I just saw an article on CNBC with the headline: America is short 5 million houses. The media is proclaiming a housing crisis throughout the country due to the shortage. Ironically at the same time the US has hit a…
Wow, it is amazing how quickly tides have changed. Look at the chart above of the betting market on the next presidential election right after the assassination attempt. Fast forward and another twist happened over the weekend with President…
When I was writing this article mortgage rates were hovering right around 7%. At the same time economists are predicting a sharp decline in mortgage rates and a booming 2024 real estate market. On the other hand, the chart above…
As suspected the March consumer price index came in hotter than expected which should be no surprise to anyone buying groceries, going out to eat, or traveling, everything is considerably more expensive and there continues to be insatiable demand. What…
When I was writing this article rates were hovering right around 7%. At the same time economists are predicting a sharp decline in mortgage rates and a booming 2024 real estate market. On the other hand, the chart above shows…
Although the graph above looks like an old Atari game, it is the Federal reserve dot plot which shows a profound shift. Ironically, just a few weeks ago the Federal Reserve was touting higher rates for longer. Now the…
In a WSJ survey, economists lower recession probability below 50% and say Fed is finished raising interest rates It has been quite a ride for mortgage rates over the last two years. As of this writing mortgage rates were around…