Mortgage Monday Newsletter | March 28th, 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
This will be a busy week of market news, with a couple job reports coming out as well as the Fed’s favorite measure of inflation, the PCE (Personal Consumption Expenditures) Report.
Last week we saw Initial Jobless Claims, which are individuals applying for unemployment benefits for the first time, come in at its lowest level since 1969! We also received Continuing Claims, which are those continuing to receive unemployment benefits, that came in at its lowest sine 1970. So, clearly the labor market is extremely tight and employers are holding onto their workers and laying off less.
The Fed has some important meetings coming up as they continue to express the need to hike up rates. Bank of America and Citibank both came out last week with the expectation that rates will go up 50bps during some of these rate hikes as we move forward through the year, which is up from the 25bps initially expected.
*The Bond market is staying pretty steady as we start out the week. Rates slightly improved overnight by 3 basis points, and have stayed unchanged through the morning as of 9:00am.
Article to Read
When You Adopt This Mindset, Everything Else Follows
Entrepreneur.com
Quotes to Ponder
“When you counsel someone, you should appear to be reminding them of something they have forgotten, not the light they were unable to see.”
– Baltasar Gracian
“Everything good needs time. Don’t do work in a hurry. Go into details; it pays in every way. Time means power for your work. Mediocrity is always in a rush; but whatever is worth doing at all is worth doing in consideration. For genius is nothing more nor less than doing well what anyone can do badly.”
– Amelia Barr
“You are where you are today because you stand on somebody’s shoulders. And wherever you are heading, you cannot get there by yourself. If you stand on the shoulders of others, you have the reciprocal responsibility to live your life so that others may stand on your shoulders. It’s the quid pro quo of life. We exist temporarily through what we take, but we live forever through what we give.”
– Vernon Jordan