06 Nov 2023
By Aadil Nathoo
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What’s Ahead For Mortgage Rates This Week – November 6, 2023

Financial Reports, ,
The most important data of the quarter was released, signaling the direction for many markets and where economic policy may be headed. Jerome Powell as well as other members of the Federal Reserve spoke about the state of economic policy, informing many parties about their decisions to remain hawkish or dovish in their approach. Further rate hikes could tell a story that inflation is not yet under control and the Federal Reserve feels the need to continue these rate hikes, which will have a significant impact on the lending markets as a whole. FOMC Rate Decision While Fed Chair Jerome…
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30 Oct 2023
By Aadil Nathoo
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What’s Ahead For Mortgage Rates This Week – October 30, 2023

Financial Reports, ,
This week’s most significant data offered preliminary numbers for manufacturing and services PMI (Purchasing Managers Index). Both can serve as a forward indicator for the economy while providing insight into the current state of the cost of living for the service industry. While manufacturing met an expected rise for the end of October, services saw a contraction, falling to 46.6 from 49.3. Readings below 50.0 can be a sign of a downturn for the economy, particularly given the time of the year. Mortgage Applications & Rates Indices MBA Mortgage Applications Index saw a reduction of -1.0% in applications for the…
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23 Oct 2023
By Aadil Nathoo
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What’s Ahead For Mortgage Rates This Week – October 23, 2023

Financial Reports, ,
This week featured the usual retail sales report which shows consumer demand and as well as an indicator of the velocity of money, not only for consumers but business to business as well. An increase would show an increase in national and local increase in economic activity, which is important as we move into Q4 of the year; where the holiday season is expected to see an increase in consumer activity. Retail Sales Retail sales have exceeded expectations this month showing month-to-month increases across the board: Retail sales are up 0.7% from the previous month with an expected increase of…
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16 Oct 2023
By Aadil Nathoo
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What’s Ahead For Mortgage Rates This Week – October 16, 2023

Financial Reports, ,
Last week’s economic report schedule included notable reports with the CPI & Core CPI in addition to PPI and Core PPI. Many markets are keeping a close eye on the inflation numbers for the U.S. as well as many other parts of the world to help guide their policies. Other notable reports were MBA Mortgage Applications Index and the University of Michigan Consumer Sentiment Report (Prelim.) Consumer Price Index With current inflation data, the Federal Reserve has hinted that they are close to ending their rate-hiking cycle for the future. This reflects a greater optimism for a soft landing in…
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09 Oct 2023
By Aadil Nathoo
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What’s Ahead For Mortgage Rates This Week – October 9, 2023

Financial Reports, , ,
The previous week offered a blend of economic updates, covering a report on the jobs market and weekly changes in mortgage rates. The Jobs Report Was Released This week, the monthly jobs report was released by the United States Bureau of Labor and Statistics. It showed that the job market completely exceeded all expectations, adding 336,000 jobs during the month of September. That was far higher than the expected number of 170,000. It also represents a significant increase when compared to August, where the economy added a revised total of 227,000 jobs. The unemployment rate remained relatively steady, coming in…
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