Why would anyone bother selling their home if they acquired the residential property with a 2.89 percent mortgage rate? Have you seen mortgage rates these days? Last week, they hit 7.49 percent, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS). Other gauges were higher, but this is the standard market observers watch. Add the […]
Federal Reserve
WATCH: Fed Chair Jerome Powell’s post-FOMC policy meeting press conference
You can watch Federal Reserve Chair Jerome Powell’s post-Federal Open Market Committee policy meeting press conference here:
The Federal Reserve’s Summary of Economic Projections
The Federal Reserve voted to leave interest rates unchanged at a 22-year high of 5.25 percent and 5.5 percent. But the central bank indicated one more rate hike before the year is finished. Here is a look at changes made in the September Summary of Economic Projections (SEP):
Money supply reaccelerates as U.S. inflation pressures revived
What a coincidence! For the past two months, inflation has been reaccelerating. In August, the annual consumer price index (CPI) climbed to 3.7 percent, and the producer price index (PPI) swelled to 1.6 percent. It is quite likely that the September inflation readings will come in hot again. But while all the focus has been […]
New York Fed restarts GDP Nowcast; forecasts 2.3% Q3 growth
The Federal Reserve Bank of New York has restarted its GDP Nowcast after suspending it during the coronavirus pandemic. Now that the regional central bank relaunched the model, let’s take a look at where it expects the third-quarter gross domestic product will be. The New York Fed expects 2.25% growth in the July-to-September period. By […]