by wpengine | Nov 8, 2018 | Blog
With unemployment very low at 4.7%, substantial fiscal stimulus will simply drive up wages and inflation, forcing the Fed to increase rates prematurely. Thus, Trump and Congress should focus on expanding the economy’s productive capacity, not increasing...
by wpengine | Nov 8, 2018 | Blog
Last week the number of oil rigs operating in the US hit 566, up 15 from the prior week and an additional 29 from the week before that. The increase of 29 rigs was the largest increase in nearly four years. The oil-rig count is now at its highest level since 11/15. At...
by wpengine | Nov 8, 2018 | Blog
Yesterday the 10 yr note finally made a nice move lower taking MBS prices up 33 bps and the yield on the 10 down 5 bps to 2.45% after another attempt to push the yield over 2.50% on Wednesday failed. On Wednesday, economic reports, particularly the Jan CPI increased...
by wpengine | Nov 8, 2018 | Blog
TODAY’S MORTGAGE RATE SUMMARY HOW RATES MOVE: Conventional and Government (FHA and VA) lenders set their rates based on the pricing of Mortgage-Backed Securities (MBS) which are traded in real time, all day in the bond market. This means rates or loan fees...
by wpengine | Nov 8, 2018 | Blog
Last month existing home sales absolutely sizzled, hitting a rate of 5.69 million/year, the best level since 2/07. Remarkably, this strength came despite inventory of only 1.69 million units. That’s just 3.6 months of supply at the current sales pace, the lowest...
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