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

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 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

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

Data dependent… That’s a phrase that is all too prevalent in financial markets and among members of the Federal Reserve. It refers to the fact that economic data will guide the future path of interest rate decisions.
Source: Kevin Litwicki MBSLIVE
Reasonably Resilient Rates Waiting to See Wednesday's Inflation Data

With markets only open 3.5 days and without any top tier economic reports to influence rates, this week could have arguably been viewed as a 9 day weekend for traders. Next week, not so much…
Source: Kevin Litwicki MBSLIVE
Tame Week For Rates and Housing Data, But Change is Coming

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

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)

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

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