Mortgage Market Updates: Will the Fed Prolong Higher Rates? Housing Inventory & Unemployment Updates - Market Update 9/25/2023
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Hey everyone, it's Larry Bailey from Mortgage Workflow Partners. This is for the Week of September 18, 2023 in Review:
The Fed held its benchmark Fed Funds Rate steady, though there are signs that a higher for longer approach is ahead. Plus, elevated mortgage rates and tight inventory remain key factors impacting the housing market. Read on for last week’s stories:
- Will the Fed Keep Rates Higher for Longer?
- Inventory of Existing Homes Needs to “Double”
- Housing Starts Plunge to 2-year Lows
- Higher Rates Dampen Home Builder Sentiment
- Is a Rise in Unemployment Claims Ahead?
00:00 Introduction
02:03 Will the Fed Keep Rates Higher for Longer?
03:04 Signs of Longer-Term Rate Hikes
04:49 Inventory of Existing Homes
07:07 Housing Starts Plunged to 2-Year Lows
08:48 Higher Rates Dampened Home Builder Sentiment
09:52 Rise in Unemployment Claims
11:11 Seasonal Maintenance Items
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