The Federal Open Market Committee’s initial take on the economy in 2026 may temper NMN-surveyed mortgage professionals’ view that rates will fall fast and far enough to generate significant revenue gains this year. Processing Content Monetary policymakers weighed the balance of risks associated with a softer market vs. inflation in their widely anticipated decision to […]
What the Fed’s first look in 2026 means for mortgages Read More »
US consumer sentiment increased to a five-month high in January as Americans grew more optimistic about the economy and their finances. Processing Content The final January sentiment index rose 3.5 points from a month earlier to 56.4, exceeding the preliminary reading, according to the University of Michigan. The figure surpassed all estimates in a Bloomberg
Consumer sentiment reaches five-month high in broad gain Read More »
Treasuries slid as investors anticipated Friday’s December employment data and possible Supreme Court strike-down of tariffs that have improved the US fiscal position. Processing Content Yields across maturities were higher by less than three basis points after rebounding from session lows. US economic data showing improved productivity, weekly initial jobless claims near recent lows and
Treasuries slip ahead of jobs report, possible tariffs ruling Read More »
Home Depot Inc. is offering cautious preliminary guidance for next year, a sign that the home-improvement retailer doesn’t anticipate the housing market to rebound in the short term. The company expects comparable sales growth to be in a range of flat to up 2% for the year — below the average of estimates compiled by
Home Depot gives cautious preliminary forecast for next year Read More »
US companies shed payrolls in November by the most since early 2023, adding to concerns about a more pronounced weakening in the labor market. Private-sector payrolls decreased by 32,000, according to ADP Research data released Wednesday. Payrolls have now fallen four times in the last six months. The median estimate in a Bloomberg survey of
Payrolls at US companies fall by most since 2023, ADP says Read More »
Initial applications for US jobless benefits totaled 232,000 in the week ended Oct. 18, according to the Labor Department website showing historical data for claims. Continuing claims, a proxy for the number of people receiving benefits, came in at 1.957 million, up slightly from 1.947 million in the prior week. For initial claims, weekly data for the
US jobless claims totaled 232,000 in week ended Oct. 18 Read More »
Federal Reserve Governor Stephen Miran on Wednesday described data that showed employment at US companies increased in October as “a welcome surprise,” though he reiterated interest rates need to be lower. Private-sector payrolls increased by 42,000 after a revised 29,000 decline a month earlier, according to ADP Research data released Wednesday. The median estimate in
Fed’s Miran says ADP jobs data slightly better than expected Read More »
Three Federal Reserve officials said they did not support the US central bank’s decision to cut interest rates this week, citing inflation that remains too high. Dallas Fed President Lorie Logan and her Cleveland counterpart, Beth Hammack, said Friday they would have preferred to hold rates steady. Both were speaking at a conference in Dallas,
Fed ‘chorus’ comes out against latest rate cut, citing inflation Read More »
The data void created by the US government shutdown is pushing bond traders to hedge against the risk that the Federal Reserve pauses at one of its two remaining meetings this year, or potentially delivers more policy easing than the market anticipates. Interest-rate swaps have been steadily pricing in roughly a quarter-point rate cut in both October
Bond traders step up Fed hedges as shutdown clouds outlook Read More »
US consumer confidence fell in September to a five-month low on growing concerns about job prospects and the broader economy. The Conference Board’s gauge of confidence decreased 3.6 points to 94.2, data released Tuesday showed. The median estimate in a Bloomberg survey of economists called for a reading of 96. READ MORE: Mortgages with rates
Consumer confidence falls to five-month low on job concerns Read More »