This week was hotly anticipated by investors due to the confluence of economic data and events. Depending on the outcome, interest rates stood to gain or lose quite a bit of ground. Thankfully, the news was almost all good.
Source: Kevin Litwicki MBSLIVE
Big Inflation Victory Gets Rates Back to Lowest Levels Since March
Wild Week in Response to Economic Data And There's More On The Way
Interest rates came into the current week with a bit of a bias, but the data pushed back… eventually.
Source: Kevin Litwicki MBSLIVE
Wild Week in Response to Economic Data And There's More On The Way
Plenty of Rate Volatility Despite Holiday-Shortened Week
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
Expect Tougher Talk From The Fed After This Week's Inflation Data
As 2024 has progressed, economic data–especially inflation data–have made it increasingly clear that rates will not be coming down nearly as soon as the Fed (and the market) expected.
Source: Kevin Litwicki MBSLIVE
Expect Tougher Talk From The Fed After This Week's Inflation Data
The Case of The Disappearing Rate Cuts
The Fed expected to be able to cut rates 3 times in 2024 as recently as March. Financial markets agreed. But the data that’s come out since then has everyone singing a different tune.
Source: Kevin Litwicki MBSLIVE
The Case of The Disappearing Rate Cuts
Rates Rocked by Inflation Data
If there was only one thing to know about the mortgage market this week, it would be that Wednesday’s inflation data prompted one of biggest single day increases in mortgage rates in decades. If there was a 2nd thing to know, it’s that the first thing is arguably all that matters.
Source: Kevin Litwicki MBSLIVE
Rates Rocked by Inflation Data