This week got off to a late start as markets were closed on Monday for Memorial Day. Upon returning to the office, traders began pushing rates higher almost immediately.
Source: Kevin Litwicki MBSLIVE
Plenty of Rate Volatility Despite Holiday-Shortened Week
The Fed is No Longer Eager to Cut Rates And The Market Knows It
It was largely a dull week for financial markets in terms of scheduled data and volatility, but numerous Fed speeches helped reiterate what the market thought it already knew.
Source: Kevin Litwicki MBSLIVE
The Fed is No Longer Eager to Cut Rates And The Market Knows It
Hotly Anticipated Inflation Data Keeps Hope Alive
The Consumer Price Index (CPI) is the most important economic report on any given month these days and it came out this week. Markets were happy to see that it merely matched expectations.
Source: Kevin Litwicki MBSLIVE
Hotly Anticipated Inflation Data Keeps Hope Alive
The Upcoming Week Will Be Significantly More Volatile
In general, you should be skeptical any time someone says a future week will be more volatile. There’s really no way to know such things in advance, but this time is an exception.
Source: Kevin Litwicki MBSLIVE
The Upcoming Week Will Be Significantly More Volatile
Despite Bigger Bumps, Fed Still Sees Path to Lower Rates
It was an action-packed week for the housing and mortgage market. Wednesday’s Fed announcement was the highlight, but we also got several economic reports that caused rate volatility. Thankfully, it was mostly the good kind.
Source: Kevin Litwicki MBSLIVE
Despite Bigger Bumps, Fed Still Sees Path to Lower Rates