|
January's fifth week newsletter. January always feels like the longest month of the year and then vroom -- baseball, end of school, 4th of July, football, Thanksgiving, Christmas, New Years.
Let's get into it. Our first FOMC meeting of the year is later this morning. We'll wait to see how markets react, but likely a nothing burger with Fed rates remaining unchanged. On the mortgage rate side, spreads continue to get better which is helping the 30yr remain around 6% nationally. Purchase applications to start the year are well in the positive with prints of 0.3%, 28.5% and 14.1%. Housing demand much?
The buildup is looking good, we'll see how it develops heading into February.
|
