Frank Nothaft
Frank Nothaft
april concerns consumer decline larger market picture price producer released state tomorrow
The Producer Price Index for April, released today, showed a considerably larger decline than had been expected, reaffirming market concerns about the state of the economy. However, the Consumer Price Index for April that will come out tomorrow will give us a much more comprehensive picture of what is actually happening.
bucket compared debt drop equity home last means mortgage total trillion value year
There's about $6 trillion in single-family mortgage debt outstanding, and total home value is about $13 trillion, which means there's about $7 trillion in home equity outstanding. Last year was a big year for liquefying home equity -- about $100 billion. That's a drop in the bucket compared to $7 trillion.
albeit compared few likely modestly mortgage next rates rise
Long-term mortgage rates will more than likely rise over the next few months, albeit modestly compared to shorter-term rates.
discern economy fairly financial growing growth markets mortgage quickly rates remained stable tried week
Mortgage rates remained fairly stable this week as the financial markets tried to discern just how quickly the economy is growing and how sustainable that growth will be.
action august board chance consumer current drifted federal further interest labor later likely market meets raise rates reserve slight slowing until
There is a slight chance the Federal Reserve Board will raise rates when it meets later this month, but with the current labor market and slowing consumer spending, it is more likely that it will take no action until August at the earliest. As a result, short-term interest rates, such as the one-year adjustable-rate mortgage, drifted further down this week.