The PCE index is the Federal Reserve's preferred measure of inflation.Ī meaningful decrease in PCE "should send longer-term yields, including mortgage rates, downward," Orphe Divounguy, senior macroeconomist at Zillow Home Loans, said in a statement last week. They'll also be eyeing changes to the personal consumption expenditures price index, which is set to be released on Friday. Lower demand, in turn, leads to lower prices for goods and services - or lower inflation.ĭata reports that analysts paid attention to over the past week include employment and gross domestic product results for the first quarter of the year. Less access to financing slows down demand for consumer goods. The purpose of the increase is to tighten credit standards and make it more expensive for consumers and businesses to borrow money. With Twitter Ticker, you won't miss any of your latest Tweets as they scroll along your desktop like a traditional news ticker. Universities, businesses, local municipalities, and many other organizations are using Twitter to broadcast important messages and breaking news. What happens after that is up for debate.Īlthough the Fed has consistently indicated that it intends to keep rates elevated for an extended period of time in order to bring inflation back down to its target range of 2%, market analysts are hoping the central bank will actually start reducing the fed fund rate sometime this year. Twitter Ticker takes the Twitter experience to a whole new level. It was widely expected that the Fed will raise the short-term, overnight interest rate, also known as the federal fund rate, by another 0.25 percentage points. Mortgage rates drifted lower this week as market analysts waited for more clues as to what moves the Federal Reserve might make after this week's scheduled meeting. Rates tick lower as markets awaited the Fed's decision All loans are subject to credit approval. New construction single-family home sales increased by 9.6% in March compared to the previous month, according to the Department of Housing and Urban Development. Sturtevant estimates that one in three homes available for sale is a new construction home, compared to one in 10 during a more typical year. "Buyers are increasingly finding themselves on the lot of a new subdivision as the availability of existing homes for sale remains very limited," Lisa Sturtevant, chief economist at Bright MLS, said in prepared comments. With few listings to choose from and the supply of single-family homes running well below demand, many are having to turn to newly built homes. In the near term, buyers are still facing a tough housing market. The prospect of lower borrowing costs "should be welcome news to borrowers who are looking to purchase a home," he added. That said, Freddie Mac's chief economist Sam Khater expects that cooling inflation will cause mortgage rates to "gently decline over the course of 2023." The average rate on a 15-year fixed-rate loan inched lower to 5.75%, a change of 0.01 percentage points from the week prior. Homebuyers got some welcome news this week: Mortgage rates are inching lower.Īccording to Freddie Mac's benchmark survey, the average rate on a 30-year fixed-rate mortgage edged down to 6.35%, a change of 0.04 percentage points from a week ago. Don't wait any longer, start your journey today! By viewing or using this data or information in any manner, you understand and acknowledge that such information does not reflect trading activity on markets, as applicable, and is intended to provide you with a reference point only, rather than as a basis for making trading decisions.Becoming a homeowner is closer than you think with AmeriSave Mortgage. The content on the Market Ticker app is not to be construed as a recommendation or offer to buy or sell or the solicitation of an offer to buy or sell any security, financial product or instrument or to participate in any particular trading strategy. Epstein Apps does not make any guarantees, representations or warranties as to, and shall have no liability for, the timeliness, truthfulness, sequence, quality, completeness, accuracy, validity or freedom from interruption of any information or data on the Market Ticker app. All figures are approximate and provided for informational purposes only. Epstein Apps is not responsible for any incorrect or inaccurate stock data/information. Changes appearance when macOS switches to Dark Mode. Continuously scrolling ticker so you can view all of your stocks. Access to the multiple stock exchanges, including NYSE and NASDAQ. Whether you're an active day trader or a casual holder, Market Ticker continuously tracks and displays the latest stock prices. Market Ticker allows you to create a personalized stock ticker.
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