Thursday May, 2023 11:13 AM
Memorial Day, rooted in honoring military service sacrifices, marks the unofficial start of summer. However, unresolved debt ceiling debates have unsettled financial markets, leading to recent interest rate fluctuations. Despite history suggesting potential rate stability, ongoing uncertainty may affect the Federal Reserve's rate hike plans in June. Read More... Wednesday May, 2023 08:11 AM
In this market update, we explore recent trends. Interest rates inched up due to ongoing debt ceiling uncertainty. Despite this, we remain hopeful, taking inspiration from Macklemore and Ryan Lewis: "We put our hands up like the ceiling can't hold us." The unresolved debt ceiling debate poses risks, contributing to rate volatility. Some positive news emerged from the banking sector, hinting at stabilization. Federal Reserve officials maintain a firm stance on rates, though June might bring a pause. Mixed signals from retailers add to market uncertainty. As the debt ceiling drama unfolds, significant rate improvements aren't expected, but watch for key developments ahead. Read More... Wednesday May, 2023 12:59 PM
In this market update, we explore recent developments. Mortgage rates have held steady thanks to a welcome drop in inflation. The Consumer Price Index for April revealed a lower-than-expected 4.9% year-over-year increase, the lowest since April 2021. Lower housing costs are playing a role in reducing inflation, a trend expected to continue through 2024. The prospect of the Federal Reserve pausing on rate hikes is growing, with financial markets showing just a 1.5% probability of a hike in June. However, the looming debt ceiling debate and the "sell in May" adage add uncertainty. A chart analysis suggests a potential rate improvement on the horizon. Read More... 