Have No Fear, Buffys Here!

Buffy says, “Click www.swmc.com/MorganRocks and Register Now for the Morgan Rocks event on Thursday, October 27 at 6pm PT in Santa Monica.”

Happy friday everyone i’m back and i’m also ready for the weekend i know you are too it’s been an eventful week so let’s get into it we interrupt this important message to bring you another important message angel alert i can’t wait to meet you all at the morgan rocks event join us on thursday october 27th in santa monica and i’ll show you why top agents like

Jason oppentine are selling sunset are falling in love with morgan the events free but space is limited so register today at swmc.com morganrocks see you there thanks for joining me today for the october weekly market insight series coming from the capital markets trading desk at sunwest mortgage company the week’s theme is headwinds from inflation risk to

The economy and hawkish central banks continuing to confront investors so the ongoing young season did offer investors the opportunity to focus on the actual earnings power of corporate america and less on the backward looking economic data stream however the few bright spots on the corporate earning reports were not proven to be enough to maintain this week’s

Rally the equities ascent fizzled really quickly on concern over the coming hit to consumer wallets from surging energy prices mortgage costs and an approaching u.s recession elsewhere in the commodity markets president joe biden announced the drawdown of an additional 15 million barrels of oil from u.s emergency reserves to control the oil prices west texas

Intermediate futures have climbed a little over 85 dollars a barrel gold rolls on weakness in the u.s dollar bitcoin futures extended the gains after the dramatic reversal following the uscpi data last week the brief dip for bitcoin to below 18 000 reversed sharply to trade around 19 200. so what else is under the surface the headline cpi report did fall back

Slightly in september from 8.3 to 8.2 but the more telling measure of core inflation which excludes the cost of food and energy reached the highest rate in 40 years rising from 6.3 to 6.6 the message is clear far from relaxing its recent pace of monetary tightening the fed might have to raise interest rates faster and further than expected the federal reserve bank

Of new york general business conditions index fell nearly eight points to minus 9.1 in october just so you know our reading below zero indicates contraction meanwhile the u.s factory production rose 0.4 percent for a third month in september suggesting firm growth in manufacturing underpinned by solid business investment and demand for consumer goods the u.s

Economy grew at a 5.7 percent pace in the final quarter of 2021 compared with the fourth quarter in 2020 suggesting that the economy was above its longer run trend by even more than initially thought initial unemployment claims unexpectedly declined by 12 000 to 214 000 a three-week low indicating firm labor demand for workers despite concerns about the economy

Elsewhere around the world liz truss announced she was stepping down as uk prime minister china may ease some covet rules a policy that has weighed on its economy and energy demand so let’s see how the housing market is doing shall we market presents the clearest evidence so far that the fed’s policies are working their way through the economy mortgage rates

Have skyrocketed to the highest in 20 years sapping demand that’s starting to filter through to slower home price growth mortgage application activity fell again during the week ending october 14th as mortgage interest rates hit their highest level in 20 years the market bankers association index decreased 4.5 percent the refinance index dropped seven percent

Week over week and the purchase index was down by four percent from one week earlier meanwhile the new u.s home construction declined in september and permit applications for single-family dwellings fell residential start decreased 8.1 percent last month to a 1.44 million annualized rate okay so with that said everybody let’s wrap it up there’s no doubt that

The outlook for consumer prices in the u.s continues to fuel bets that the federal reserve may make jumbo rate hikes at its next two meetings latest comments suggested they were ready to hike rates higher than previously planned kansas city fed president esther george at the terminal rate may need to be higher to cool prices san francisco’s feds mary daly said

She’s very supportive of raising rates to restrictive levels which most likely would increase between 4.5 percent and 5 percent in spite of all of this investors are still a bit optimistic about the u.s economy and its prospects to emerge as a relative winner for the current global turmoil many investors also see the federal reserve likely being the first to halt

Its rate hikes which would allow its economy and nasa’s to recover ahead of other nations so yes i’m done that’s all for this week but i promise you if you stick with me i will continue to give you the latest updates because buffy will always be there for you please join me again next week for more market updates figures of various important economic data updated

Status on geopolitical nervousness and much more so stay updated with our news and our trading desk will keep informed pricing incentives happy friday my friends and have a great weekend buffy out

Transcribed from video
Have No Fear, Buffy's Here! By Sun West Mortgage Company Inc. NMLS 3277