Mortgage Monday Newsletter | July 25th, 2022
Welcome to the Mortgage Monday Newsletter! Each week I will give you 1 Industry Insight, 1 Article to Read, and 3 Quotes to Ponder. I hope you enjoy, and if you do, feel free to pass it along to your friends!
Industry Insight
We are hearing that the Fed’s next rate hike will be 75bps, and not the 100bps first initially thought. This is after the Fed’s media leak, Nick Timiraos, wrote about it last week. Because of this we don’t expect the bond market to react with much volatility because the hike should be already accounted for prior to the meeting.
Q2 GDP estimates are looking to be at -1.6%, but remember that the final reading does not come out until September and is subject to revisions. If that GDP number does turn out to be accurate, that will mark the second consecutive quarter with negative GDP which means recession. However, the National Bureau of Economic Research (NBER) are the only ones that can officially call a recession.
*As of 1:30pm bonds are down slightly, but up since the market opened this morning. We have seen a pretty good bump since late last week, so we will enjoy the gains while we can. Have a great week and let me know if you have any questions!
Article to Read
Raised by Women to Conquer Men: The Journey of Jimmy Connors by Frank Deford
Quotes to Ponder
“Teaching is successful only as it causes people to think for themselves. What the teacher thinks matters little; what he makes the child think matters much.”
– Alice Moore Hubbard
“Quality of life is having the freedom to make choices that are not fear based. Whether it’s the ability to choose the kinds of projects I want to take on and can learn from, or the ability to take a a month off to travel. Freedom to choose is the ultimate luxury.”
– Danielle Colding
“One of my guiding principles is don’t do anything that other people are doing. Always do something a little different if you can. The concept is that if you do it a little differently there is greater potential for reward than if you do the same thing that other people are doing. I think that this kind of goal for one’s work, having obviously the maximum risk, would have the maximum reward no matter what the field may be.”
– Seymour Clay