Low Consumer Confidence Will Bring Big Changes In Spending Habits

2022-07-01T22:56:02+00:00 July 1st, 2022|Categories: MortgageTime|Tags: , , , , , , , |

Low Consumer Confidence May Halt Spending Low Consumer Confidence should be no surprise with the continuously rising rate of inflation and interest rates. The monthly report on consumer confidence published by the Conference Board has been receiving more attention lately, since it may provide information on upcoming spending habits. The latest reading released this week revealed a larger than expected decline, the lowest level since February 2021. There were also some interesting divergences in the details of the report. While consumers expected the labor market to remain very strong, they also intend to scale back a on pricier purchase. These include, large appliances, motor vehicles, vacation travel later in the year. Low Consumer Confidence Drops Along With ISM Report Low Consumer Confidence isn't the only economic indicator. Another significant economic indicator was released this week from the Institute of Supply Management (ISM). Reports show a drop to the lowest level since June 2020. The national manufacturing index has Fallen to 53.0.This is below the consensus forecast of 54.5. Still, levels above 50 indicate that the sector is expanding. Core PCE Rises Despite Low Consumer Confience The PCE price index is the inflation indicator favored by the Fed. In May, core [...]

May 2022 Mortgage Market: Rates Plummet with Limited Activity

2022-06-28T15:59:09+00:00 June 15th, 2022|Categories: Monthly Recap|Tags: , , , , , , , , , , , , , , , , , , , , , , , |

Taking a look back at the May 2022 mortgage market, investor expectations surrounding inflation stabilized to some degree.

Steady Job Gains in the Leisure and Hospitality Sectors

2022-06-03T17:20:46+00:00 June 3rd, 2022|Categories: MortgageTime|Tags: , , , , , , , , , , , , , , , , , , , , , , |

In a relatively quiet week for mortgage markets, investors saw steady job gains in the leisure and hospitality sectors.

The Latest Core PCE Meets Expectations as Mortgage Rates Decline

2022-05-27T16:30:35+00:00 May 27th, 2022|Categories: MortgageTime|Tags: , , , , , , , , , , , , , , , , , , , , , |

Although the latest core PCE met expectations, investors grow increasingly concerned with slowing global economic growth.

April 2022 Mortgage Rates Now Climbed to 2009 Levels

2022-05-25T21:58:48+00:00 May 15th, 2022|Categories: Monthly Recap|Tags: , , , , , , , , , , , , , , |

Last month, investors focused on elevated inflation levels on as April 2022 mortgage rates climbed to their highest levels since 2009.

Fed Announces Rate Hike This Week To Combat Soaring Inflation

2022-05-09T02:07:56+00:00 May 6th, 2022|Categories: MortgageTime|Tags: , , , , , , , , , , , , , , , , , , , |

As expected the Fed announced a rate hike this week in their latest step to combat inflation while Employment neared its consensus.

GDP Reading Fell to Lowest Level Since Spring of 2020

2022-04-30T15:55:55+00:00 April 29th, 2022|Categories: MortgageTime|Tags: , , , , , , , , , , , , , , , , , |

In a light week of economic reporting, the major news encompassed the latest GDP reading, which fell to the lowest level since spring 2020.

March 2022 Mortgage Rates Rise as the Market Stays Volatile

2022-04-25T23:33:59+00:00 April 15th, 2022|Categories: Monthly Recap|Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , |

Last month, March 2022 mortgage rates soared at an unexpectedly fast pace as the market stays volatile this year.

Fed Guidance Indicates Rapid Plans to Reduce Their Bond Portfolio

2022-04-08T16:23:59+00:00 April 8th, 2022|Categories: MortgageTime|Tags: , , , , , , , , , , , , , , , |

This week, investors awaited the latest Fed guidance. Fed officials plan to reduce their bond portfolio more quickly than expected.

Unemployment Rate Fell to Lowest Level Since Early 2020

2022-04-02T16:38:40+00:00 April 1st, 2022|Categories: MortgageTime|Tags: , , , , , , , , , , , , , |

While mortgage markets stay volatile, the unemployment rate fell to the lowest level since early 2020 as inflation came in on target.

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