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Consumer Sentiment Continues to Warm in February
Consumers’ feelings continue to thaw toward the economy this winter, according to the latest data from the University of Michigan. Consumer sentiment grew an astounding 0.8% in February, following a 13.1% leap in January and a sharp increase in December. “The fact that sentiment lost no ground this month suggests that consumers continue to feel… […]
Consumer Sentiment Continues to Gain Momentum
The latest Survey of Consumers from the University of Michigan finds that consumer sentiment in January remains relatively rosy, suggesting optimism about the economy as the new year gets underway. The Index of Consumer Sentiment, calculated by surveying consumers, currently sits at 79, a substantial increase both month-over-month (69.7 in December 2023) and year-over-year (64.9… […]
U.S. Inflation Continues to Drop in January, but Pace Slows
The road to reeling in inflation will take a lot of work, and new reports from the U.S. Bureau of Labor Statistics (BLS) offer a glimpse as to why. While the consumer price index (CPI) shows a persisting downward trend in inflation, it also indicates that the pace of easing is cooling. The latest CPI… […]
Broker Confidence Continues to Decline Month-Over-Month
At a macro level, 2022 has been a year of ups and downs for the U.S. economy. Supply chain issues are still prevalent. Inflation continues to rise, although some experts suggest it may have peaked. Thirty-year mortgage rates topped a 5% average. Loan applications have dipped week-over-week. And, of course, fuel prices continue to soar, […]
MBS Day Ahead: Friendly Bond Bounce Continues as 10s Target 1.0%
Posted To: MBS Commentary With 10yr yields breaking the 1.075% technical floor on Monday, the bond market added evidence to the case for a move back to 1.0%. Today's early gains make the evidence nearly overwhelming with yields less than half a basis point away at times. With the Fed coming up this afternoon, it […]
Residential Spending Continues to Lead Construction Numbers
Total spending on construction projects in the U.S. rose 0.9 percent in November compared to October. The U.S. Census Bureau estimated that the seasonally adjusted annual spending on all types of construction was $ 1.459 trillion during the month compared to $ 1.447 trillion the prior month, an 0.9 percent increase. The rate was up […]
Homebuyer Sentiment Continues Previous Decline
Fannie Mae’s Home Purchase Sentiment Index (HPSI) faltered a bit in July as it tried to recover from its 29.5-point aggregate plunge in March and April. The index, derived from six questions on the National Housing Survey (NHS), decreased 2.3 points in July to 74.2. Three of the components deceased from June levels, led by […]