Market Moment for 03/18/2014

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Mortgage and Lending with Jet Home Loans NMLS 1660135 310298

 

Sorry about yesterday folks. Technical difficulties prevented getting an email out early and then Monday took over…

 

That said, please be advised I won’t be doing these anymore. Yes they have been well received and I thank you all for the interactions we’ve shared, but the workday is getting too long and something’s gotta go.

 

But I’m going out while things are exciting ;)

 

The Fed meet today- the new Fed headed by Chair Janet Yellen for the first time. “Same as the old boss” again comes to mind but traders will be scrutinizing the announcement tomorrow more than ever for hints on where this new Fed might be going. The Russian/Crimean thing seems to be more rhetoric than anything else- kind of like the Syrian thing and the Iranian thing- and the markets didn’t even seem to notice it was going on yesterday as the Dow spiked up 181 points. Do know rates are being pressured up by all this (remember that stock lever?) and more may be on tap for today.

 

Data yesterday was surprisingly strong except for the housing sector. Weakness in traffic in new home communities was reported, but some of it is still being attributed to the weather. Likewise new home starts today were down, but permits are up slightly pointing towards more construction to come. Today’s CPI (Consumer Price Index) continues to point towards no/low inflation so the Fed has nothing to worry about for now.

 

Preopen is pointing towards more stock gains with rates pretty much unchanged for now. I will leave you all with a good article from CNN Money today that explains debt but most importantly points towards our next true bubble. As a lender pulling countless credit reports I can assure you, student loan debt is going to be a problem…

 

But we will get past that too when the time comes, and in the interim we have many homes to sell! Thanks for allowing me a little space in your inbox each morning and when you need to have the absolute best lenders in your corner remember to give us a call!

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