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Residential First Capital retweeted
Homebuyer affordability could improve by 9% by the end of next year if mortgage rates continue to fall and home prices plateau as expected, First American economist predicts. inmn.io/3GOczdD
Residential First Capital retweeted
Home values are dropping and mortgage rates are starting to trend lower. It's a great time for buyers to negotiate in a market that is slowing down.
uamco.net/hthayer/blog/get-t…
The Unemployment Rate remained at 3.7% while the Labor Force Participation Rate fell to 62.1%, below the pre-pandemic level (Feb 2020) of 63.4%. Hourly earnings rose 0.6% monthly, above the 0.3% expected.
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Job growth came in above expectations in November but it was the lowest print this year. Non-Farm Payrolls rose 263,000 versus the 200,000 expected and down from 284,000 in October.
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The inflation component inched higher to 4.6% from 4.5% in the first read. The personal savings rate fell to 2.8% from 3.3%.
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After two straight negative quarterly readings for economic growth in 2022, Gross Domestic Product (GDP) rose by 2.9% in the second read from Q3 and up from the first look of 2.6%. The report showed that consumer spending was up 1.7% versus the 1.4% estimated.
Residential First Capital retweeted
Inflation Experiences for Lower and Higher Income Households bls.gov/spotlight/2022/infla… #BLSdata #CPI
ALT Artistic image representing inflation in consumer prices for households with different income levels
Residential First Capital retweeted
Many wonder if we’re in a housing bubble that could burst any day. #Mortgage expert @ItsIvanSimental addresses whether or not you should be taking whispers of a housing market crash seriously on The Mortgage Reports Podcast.
themortgagereports.com/91939…
Residential First Capital retweeted
Once considered affordable, housing in the Southeast is becoming more expensive. inmn.io/3VCBvcM
November ADP 127K vs 200K expected and down from 239K in October.
The second read on Q3 GDP 2.9% vs 2.7% expected and up from the first read of 2.6%.
MBA: Market Composite Index -0.8%, Refinance Index -12.9%, Purchase Index +3.8%. the 30-yr fixed-rate mortgage fell 18bp to 6.49% for the week ending November 25.
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The JOLTS report shows the number of job openings inched lower to 10.334 million at the end of October. The Chicago PMI at 37.2 in November vs 47 expected and down from 45.2 in October.
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Residential First Capital retweeted
Inflation Adjusted House Prices 3.3% Below Peak
House Price-to-Rent Ratio Declines to 4.7% Below Peak calculatedrisk.substack.com/…
Residential First Capital retweeted
Lenders that offer streamlined refinances in the future shouldn't be required to consider the borrower's income or employment status, @MBAMortgage argued.
By @Orla_McCaffrey
trib.al/de5ufTR
Residential First Capital retweeted
U.S. job openings fall to 10.3 million — but labor market still too strong for the Fed trib.al/ooR5eAx
