Good Monday AM,
Light news day today and things don’t heat up until Thursday.
Treasuries and Mortgage bonds took it on the chin last week and were pushed to a strong line of support. That held and we are starting to head back down the trading channel. It is news dependent but likely takes us down to 4.00% on the ten year and about .125 better in rate for mortgages.
If you are looking to target your marketing, here is some good insight…
For those under 35, the homeownership rate is about 38% and when you look at those from 35 to 44, it’s at 63%. For many people, if they’re going to buy a home, this is the age in which they decide to do it.
Where are rates heading?
Two major Wall Street firms are recommending investors start buying five-year US notes after they saw their worst rout since May last week. Morgan Stanley sees scope for a rebound in Treasuries on expectations data in the coming weeks may surprise to the downside. JPMorgan is also suggesting investors buy five-year notes as yields have already climbed to levels last seen in December. However, it warned that markets are still too aggressive in pricing for an early start to central bank interest-rate cuts. Sustained pushback from central bank officials, along with healthy data on retail sales, meant last week traders slashed bets on interest-rate cuts from the Fed this year. This sent yields climbing 22 basis points, the most since the period to May 19.
You may be thinking it.. and so is everyone else:
Roughly 85% of 1,000 U.S. professionals polled in a new LinkedIn survey say they are thinking about changing jobs this year, up from 67% a year earlier. Be careful though, finding a new job may find more difficult than you think.
Please remain safe and healthy, make today great!