The Martini Factor provide a glimpse of what is going on with Raleigh mortgage rates and the Raleigh real estate market and provides insight why it matters.
Right now, in the mortgage rate arena, what has had a moderate impact in the past now has a heavy impact, and what had a heavy impact now has a massive impact.
Raleigh mortgage broker and Certified Mortgage Advisor Kevin Martini
BREAKING NEWS THAT WILL IMPACT RALEIGH MORTGAGE RATES
Gross Domestic Product (GDP) economic growth for Q4 2022 was revised lower and the core PCE (Personal Consumption Expenditures) inflation numbers came out much higher than market expectations. This is likely to trigger a negative reaction in the bond market and this is significant for Raleigh mortgage rates since home loan rate live in the bond market.
GDP 2nd est.
For Q4 2022 the estimate was 2.9% however the actual came in at 2.7%.
Core PCE Prices
PCE is the Federal Reserve’s favorite metric to gauge inflation. PCE basically reflects the change in prices of goods and services purchased by consumers and Core PCE takes out the very volatile food and energy component out of the PCE. For Q4 2022 the estimate was 3.9% however it actually came in higher with a reading of 4.3%.
FRIDAY, FRIDAY, FRIDAY (02.24.2023)
This Friday will be a very busy day ending a very short trading week. The markets will share data on Building Permits, New Residential Sales, Personal Income & Spending, and PCE (month-over-month).
Martini Mortgage Group
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