This week’s main event was Wednesday’s Fed announcement. A rate cut was wholly out of the question, but markets wanted to know how recent inflation surprises changed the Fed’s outlook. Turns out, not much!
Source: Kevin Litwicki MBSLIVE
Fed Surprisingly Calm on Inflation Risk; Home Sales Improve
On The Road To Rate Cuts, Markets Asking "Are We There Yet?" (Spoiler Alert: No)
Back in late 2023, we got in the car with the Federal Reserve with the promise of a trip to our favorite place: the land of lower interest rates. In 2024, we keep asking “are we there yet?” The more we ask, the farther we seem to be from the destination.
Source: Kevin Litwicki MBSLIVE
On The Road To Rate Cuts, Markets Asking "Are We There Yet?" (Spoiler Alert: No)
Lowest Rates in Over a Month. Upcoming Inflation Data Casts a Critical Vote
It was a hotly anticipated week for interest rates due to the arrival of the first batch of big ticket economic data since the Inflation report that came out on February 13th. This week’s data was much more friendly, but next week’s data is even more important.
Source: Kevin Litwicki MBSLIVE
Lowest Rates in Over a Month. Upcoming Inflation Data Casts a Critical Vote
Rates Defend The Ceiling. High Stakes Week(s) Ahead
This week was more active and interesting than the previous example with a few important economic reports helping rates avoid breaking their recent ceiling. Other economic data continues to remind us that rate relief can’t come too soon.
Source: Kevin Litwicki MBSLIVE
Rates Defend The Ceiling. High Stakes Week(s) Ahead
Short, Quiet Week, But With Some Hopeful Hints For Housing and Rates
Between Monday’s holiday market closure and the general absence of highly relevant economic reports, it was a fairly quiet week for interest rates and the housing market, but not without some potentially hopeful developments.
Source: Kevin Litwicki MBSLIVE
Short, Quiet Week, But With Some Hopeful Hints For Housing and Rates
Rates Bounce Higher as Inflation Data Throws a Wrench in The Outlook
Source: Kevin Litwicki MBSLIVE
Rates Bounce Higher as Inflation Data Throws a Wrench in The Outlook
Conflicting News on Rates, But Everyone Agrees on The Next Main Event
Last Thursday, Mortgage News Daily (MND) published an article titled: “Rates Right in Line With Long-Term Lows, But That Could Change on Friday.” Indeed, rates ended up jumping in a big way–the biggest in more than a year.
Source: Kevin Litwicki MBSLIVE
Conflicting News on Rates, But Everyone Agrees on The Next Main Event
Worst Day For Rates in More Than a Year After Jobs Report, But It's Not as Bad as it Sounds
Interest rates have a long and reliable history of reacting to the jobs report more than any other monthly economic data and the most recent example sent mortgage rates screaming higher at the fastest pace in over a year.
Source: Kevin Litwicki MBSLIVE
Worst Day For Rates in More Than a Year After Jobs Report, But It's Not as Bad as it Sounds
What's At Stake With The Upcoming Fed Meeting?
Over the past 2 months, speculation ramped up quickly regarding the pace and magnitude of Fed rate cuts in 2024. Next week brings the first Fed meeting that’s in the realm of that speculation.
Source: Kevin Litwicki MBSLIVE
What's At Stake With The Upcoming Fed Meeting?
Highest Mortgage Rates in More Than a Month, But There Are Silver Linings
So far, 2024 has been distinctly different from the end of 2023. November and December saw rates move lower at one of the fastest paces in decades. In contrast, January has delivered a fairly consistent uptrend.
Source: Kevin Litwicki MBSLIVE
Highest Mortgage Rates in More Than a Month, But There Are Silver Linings