Sticking with my 2022 theme that the Fed won’t pivot until the labor market breaks, I try to explain why the bond market and mortgage rates have headed lower recently in today’s podcast. Remember, we are still in an uptrend with the 10-year yield from the 2024 low levels. For now! Also, mortgage spreads are acting much better than I thought this year, relieving mortgage rates. I assumed the closer we got to the first rate cut, we would see this type of action, but not this early.
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Here is the article on the topic above. I also wrote about housing starts data that came out today, which shows that future housing production has already been hit.
Every weekend for HousingWire, we bring out the weekly HousingWire Tracker report, where I take a deep dive into the current and forward-looking housing data lines so you can be up to date with the data lines that matter in housing. If you would like to join HW Plus to have access to the tracker, please use my LoganVIP20 code.
“In three words I can sum up everything I’ve learned about life: it goes on.” -Robert Frost
Logan Mohtashami is a Lead Analyst for Housing Wire, a financial writer, and a blogger covering the U.S. economy with a specialization in the housing market. Logan Mohtashami, now retired, spends his days and nights looking at charts and nothing else.