The Spring buying season is in full swing even though temperatures are cooler than usual for this time of year. Our 1st-Quarter results show homebuyers are out there trying to find their next home and that the market is gaining strength. Currently, interest rates are remaining level and steady but Old Man Inflation appears to be waking up from a long winters nap. Don’t let rates creep up and leave you in an upward market.
Today's Rate Snapshot
The stock indexes were following Friday’s sell-off early this morning with the three key indexes weaker. No change in the bond and mortgage in early activity. The stock market is in trouble and we expect the key indexes will continue to decline in the next couple of weeks. The indexes have been looking vulnerable for two weeks and now the outlook is increasingly bearish. The March employment report released last Friday was a good one, 192k new jobs and Jan and February revised to add another 37K jobs from what was originally reported. While not a barn burner report, nevertheless it did confirm jobs are improving. The report was in reality not encouraging however; just because there was an increase in job creations on the headline, the quality of new jobs remains poor with most in low wage areas and the labor participation rate at 62.3% implying many have simply quit. . . . . . .
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