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Investors have pared bets on a March rate reduction and are setting their sights on the Fed’s subsequent decision on May 1, but still see a slim possibility of an earlier move.
A biologist, a chemist, and a statistician are out hunting. The biologist shoots at a deer and misses five feet to the left. The chemist takes a shot and misses five feet to the right. The statistician yells, “We got ’em!” Are you selling your house? Me neither. Few people are: there are only about 564,000 active listings. That’s about 11,000 per state. In California, where there are 58 counties, that is an average of less than 200 per county. In Wyoming, the least populated state, there are 58 counties so that’s 190 listings per county. Of course, averages d...
Our industry continues to be battered. Starwood Capital-backed Reverse Mortgage Funding and its parent company Reverse Mortgage Investment Trust have filed for bankruptcy. Inlanta Mortgage told the state of Wisconsin it plans to wind down its business. Switching gears, to celebrate the first day of December, spend 5 minutes taking one of my favorite quizzes, focused on figuring out where you’re from based on the words you use for certain common things. (What do you call the little bug that rolls up into a ball when you touch it? Sneakers versus tennis shoes? Y’all versus you guys...
Overview: The US dollar is firmer in the European morning after starting out with a softer bias in Asia Pacific turnover. The dollar-bloc currencies,
** Powell says one-time increases in prices likely to have only transient impact on inflation ** Powell says a transitory rise in inflation above 2% will not meet standard for raising rates ** Powell says economy is a long way from employment, inflation goals ** Powell says not time to start talking about taper yet ** Powell says we will want to provide as much advance notice of taper as possible ** Powell says when we see data that shows we are on track to achieving substantial progress, we will say that ** Powell says ‘strong bulk’ of FOMC is not showing a rate increase through 2023 ** ...