Market Update – It is Fed Week

I am a Mortgage Broker & I have been in the mortgage & real estate space for over 25 years and I currently Own my own brokerage firm called America’s Mortgage Solutions!

We service all your lending needs & can get you approved Fast & Easy! In a little as 10 Minutes! So call us anytime at 561-316-6800.

July 25th Market Update:
Current position: Carefully Floating Mortgage Interest Rates

Stocks are higher and Mortgage Bonds are lower to start a very important week. Some of the largest tech companies will be Q2 earnings, including Meta, Alphabet, Amazon, and Microsoft, which can have an impact on the markets, especially equities. Additionally, it’s Fed week, we will get the first reading on Q2 GDP, PCE (Personal Consumption Expenditures), will be reported, and there is a ton of housing data.

We expect the Fed to hike by 75bp, especially after the Fed’s media leak, Nick Timiraos, wrote about it last week. Q2 GDP estimates are for it to be -1.6%, but remember the final reading does not come until September and it can be revised. Even though we do feel Q2 GDP will be negative, it does not mean the NBER (National Bureau of Economic Research) will signal a recession right away. They need to have three criteria met – Depth, Duration, and Diffusion. We may not have an official recession announced until the end of the year or Q1 2023.
The last PCE reading, which was for May, showed headline inflation at 6.3%, with the core reading at 4.7%. We expect a big jump in headline inflation, just like we saw with the CPI report. The market is expecting the June figure to come in around 6.7%, which could pressure the Bond market, although it already did react to CPI rising to 9.1%.

On the housing front, tomorrow we will get fresh appreciation reads from Case Shiller and FHFA,
as well as New Home Sales and Pending Home Sales.

Wednesday: is the big Fed meeting & a 75bps is expected especially after the Fed’s media leak, as well as Mortgage Apps, Durable Goods, Pending Home Sales

Thursday: Q2 GDP, Initial Jobless Claims
Friday: PCE (Personal Consumption Expenditures)

Mortgage Bonds are battling with an important dual floor of support at the 50-day Moving Average and 100.603 Fibonacci level. If Bonds can remain above these levels, we may see interest rates move lower to the levels of July 6th & the 100-day moving average.
If they break beneath support, they will likely retest the 25-day Moving Average & rates will move higher to the levels we saw around June 13

So, what all this means is we will wait and see how things play out over the next few days and what will happen after the fed meeting because when the fed moves the rate up in an attempt to reduce the inflation rate of 9.1% which is the highest in 4 decades. So if history plays out then we may see long-term interest rates drop over the short term and keep in mind…

I am a Mortgage Broker & I have been in the mortgage & real estate space for over 25 years and I currently Own my own brokerage firm called America’s Mortgage Solutions!.

We service all your lending needs & can get you approved Fast & Easy! In as little as 10 Minutes! So call us anytime at @ or Apply online here: https://americasmortgagesolutions.com/Apply

Our intention is to impress upon you the importance of making your mortgage a pivotal component of your overall financial planning strategy. Our goal is to custom fit you with the best overall financing package by, integrating the financing we select together based on your long and short-term financial and investment goals, which are coupled with your payment and equity objectives.

Keep in mind that We Specialize in All Types of Home Mortgage Loans from government back loans like a Fannie Mae or Freddie Mac loan, FHA, USDA, VA FHA forward & Reverse Mortgages, Jumbo Reverse Mortgages, Jumbo & Super Jumbo loans up to $50M to NON-QM loans that include private loans, No income & No Ratio primary residence loans to self-employed loans using Bank Statements, 1009’s or P&L’s to qualify to investor loans like DSCR, Fix & Flip and new construction. Plus we offer all types of commercial loans like Owner Occupied loans, SBA Loans & Investor Commercial Loans

So call us anytime at 561-316-6800 book a time with me by going to https://calendly.com/cpenner or head over to our website, at www.americasmortgagesolutions.com , and fill out our contact form and we will get right back to you.

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Christian Penner, CMA
President & Managing Member
America’s Mortgage Solutions, Inc
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Plus we offer all types of commercial loans like
Owner Occupied loans, SBA Loans & Investor Commercial Loans

So call us anytime at 561-316-6800
Or book a time with me by going to https://calendly.com/cpenner or head over to our website, at AmericasMortgageSolutions.com and fill out our contact form and we will get right back with you.

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– “Market Update – It is Fed Week” –

The Christian Penner Mortgage Team | Cell/Text: (561) 316-6800