Weekly Review
Newsletter - 12/27/2022

Week of December 19, 2022 in Review

The markets had plenty of news to feast on last week, including the latest data on consumer inflation, home sales and home construction. Here are the highlights:

  • Consumer Inflation Headed in Right Direction
  • Inventory of Existing Homes Declined for Fourth Consecutive Month
  • New Home Sales Beat Expectations in November
  • What the Home Construction Slowdown Means for Home Prices
  • Home Builder Confidence Declined Every Month This Year
  • Unemployment Claims Data Illustrates Difficulties for Job Seekers
  • Third Quarter GDP Remains Positive

Consumer Inflation Headed in Right Direction

The Fed’s favorite measure of inflation, Personal Consumption Expenditures…

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Weekly Review
Newsletter - 12/19/2022

Week of December 12, 2022 in Review

Consumer inflation continues to cool, while there were some important takeaways from the Fed’s latest rate hike decision. Read on for these crucial details:

  • What the Fed’s Latest Rate Hike Really Signals
  • Consumer Inflation Cooler Than Expected Last Month
  • Small Business Owners Say Inflation Remains Top Problem
  • Shipping Data Brings Positive Sign for Inflation Picture
  • Continuing Jobless Claims at Highest Level Since February

What the Fed’s Latest Rate Hike Really Signals

As expected, the Fed hiked its benchmark Fed Funds Rate by 50 basis points at its meeting last Wednesday. The Fed Funds Rate is the interest rate for overnight borrowing for banks, and…

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Mortgage rates are continuing their downward trend as investors keep a lookout for more signs of cooling inflation.

“This week, labor cost data provided a ray of hope as it showed that hourly compensation was lower than previously reported in the second and third quarters for all sectors except manufacturing,” writes Danielle Hale, chief economist at Realtor.com, adding that gas prices are also plunging.

Nadia Evangelou, NAR senior economist and director of real estate research, commented: 

“Mortgage rates continue to move down. According to Freddie Mac, the rate on a 30-year fixed mortgage dropped to 6.33% from 6.59% the previous week. Housing affordability rose about 8% in the last four weeks as mortgage rates moved closer to 6%. If…

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Weekly Review
Newsletter - 12/12/2022

Week of December 5, 2022 in Review

Reports on home prices, inflation and unemployment highlighted a relatively quiet economic calendar, while recession signals continue flashing. Read on for these crucial stories:

  • Wholesale Inflation Hotter Than Anticipated
  • Are Home Prices Still Forecasted to Appreciate?
  • Continuing Jobless Claims Reach a 10-Month High
  • More Recession Signals Flashing

Wholesale Inflation Hotter Than Anticipated

The Producer Price Index (PPI), which measures inflation on the wholesale level, rose by a higher than expected 0.3% in November. On a year-over-year basis, PPI decreased from an upwardly revised 8.1% to 7.4%. While this was also a little higher than expected, 0.7%…

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Weekly Review
Newsletter - 12/05/2022

Week of November 28, 2022 in Review

With reports on housing, jobs, inflation and Fed chatter, the markets had plenty to digest last week. Here are the highlights:

  • Big Jobs Number or Grand Illusion
  • Private Sector Job Growth at Slowest Pace Since January 2021
  • Continuing Jobless Claims at Highest Level Since February
  • Bonds Boosted by Fed Chair Powell and Cooler Inflation
  • Why Signed Contracts on Existing Homes Are Set to Rebound
  • What the Latest Home Price Appreciation Data Really Means
  • Third Quarter GDP Remains Positive

Big Jobs Number or Grand Illusion

The Bureau of Labor Statistics (BLS) reported that there were 263,000 jobs created in November, which was stronger than…

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Mortgage rates continued their plunge from a peak of 7.08% in November, marking their biggest three-week drop in 14 years.

“Mortgage rates continued to drop this week as optimism grows around the prospect that the Federal Reserve will slow its pace of rate hikes,” says Freddie Mac chief economist Sam Khater.

Mortgage rates this week

30-year fixed-rate mortgages

The average 30-year fixed-rate mortgage dropped to 6.49%, down from 6.58% the week prior, Freddie Mac reported Thursday. A year ago, the 30-year rate averaged 3.11%.

Mortgage rates began to slide below 7% after the most recent inflation data was released in mid-November. The consumer price index was at 7.7%, coming in below economist's expectations.

“Data shows that mortgage…

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1. People who look at your home over the holidays are serious buyers.

2. Serious buyers have fewer homes to choose from over the holidays as most sellers take their homes off the market, equating to less competition and more money for you.

3. Since the supply of homes will drastically increase in January, more inventory means more competition in selling your home, which could cost you money.

4. Homes show their best when decorated for the holidays.

5. Buyers can get emotionally connected to a home, visualizing celebrating their future holidays there and may spend more money.

6. Buyers have more time to look over the holidays, with flexibility to view homes during the weekdays.

7. Some people must buy before the end of the…

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