• December 20, 2022
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Domestic Flavor: Taking it to the House: November Housing Starts were higher than expected, 1.427M vs. est. of 1.415M on an annualized basis. Single-Family starts were down -4.1% from 863K to 828K SAAR, which is the lowest since May 2020. Multi-Family starts rose 4.8% from 557K to 584K, highest since April 2022. Building Permits fell

• December 19, 2022
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Three Things: These are the three areas that have the greatest ability to impact your backend pricing this week. 1) Inflation Nation, 2) The Consumer and 3) Central Bank Palooza. 1) Inflation Nation: We get the Fed’s key measure of inflation, Personal Consumption Expenditures (PCE) on Friday. Both headline PCE and Core (ex food and

• December 19, 2022
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  In a world of rising rates, Financial Sanity Now shows you the path to debt freedom, credit empowerment, and strategic mortgage moves. In this episode, we have our host Michael Harris and a featured guest, Allen Lissauer from Financial Sanity Now. Together, they spill the beans on proven techniques to eliminate debt, improve credit

• December 19, 2022
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Owning a home is part of the American Dream, and as a mortgage lender, United Mortgage Corporation of America, we are motivated to do everything possible to make sure Americans of all ethnic, educational and professional backgrounds can qualify for a mortgage. Some borrowers may use an Individual Tax Identification Number (ITIN) instead of a

• December 18, 2022
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Social Security benefits are set to rise by 8.7% in 2023, the biggest bump in four decades as stubbornly high inflation erodes the buying power of retired Americans, the Social Security Administration said on Thursday. The increase, known as a cost-of-living adjustment (COLA), is the biggest since 1981, when recipients saw an 11.2% jump. More

• December 16, 2022
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• realestatelife

Domestic Flavor: Rosie the Riveter: The preliminary December Markit Manufacturing PMI continued its freefall, dropping to an alarming 46.2 vs. 47.7. Services were even worse, 44.4 vs. est. of 46.8 The Talking Fed: NY Fed President John Williams said that the Fed is focused on doing “what is necessary” to lower inflation to 2% and

• December 16, 2022
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The Federal Reserve on Wednesday raised its benchmark interest rate by 50 basis points, slowing its campaign to cool the economy amid early signs that stubbornly high inflation is finally starting to ease. The widely expected move puts the key benchmark federal funds rate at a range of 4.25% to 4.5%, the highest since before

• December 15, 2022
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• realestatelife

Retail Snails: November headline Retail Sales were dismal, down -0.6% vs. est. of -0.1%. Ex-Autos, they were down -0.2% vs. est. of +0.2%. Jobs, Jobs, Jobs: Initial Weekly Jobless Claims were much lighter (better) than expected, 211K vs. est. of 230K. The more closely watched 4 week moving average dropped to 227K. Continuing Claims matched

• December 14, 2022
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Taking it to the House: Weekly Mortgage Applications were up 3.2%. Purchase Applications saw the biggest gain at 4.0% and Refinances were up 2.8%. Genco Olive Oil: Import Prices were down -0.6% vs. est. of -0.5% and Export Prices were down -0.3% vs. est. of -0.6% The Talking Fed: Starting at 2 pm ET, we

• December 13, 2022
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Inflation moderated more than expected in November, but consumer prices remained near a multi-decade high, continuing to squeeze millions of U.S. households and small businesses. The Labor Department said Tuesday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 0.1% in November from the