by Mark Chandik | Jun 26, 2023
Weekly Market Commentary The 30-year fixed mortgage averaged 3.04% in 2020 and 2021, according to Freddie Mac’s weekly survey. The 15-year rate: 2.44%. Housing money was almost free…almost. Through June 22, the average 30-year fixed rate was 6.43%, a substantial...
by Mark Chandik | Jun 20, 2023
Weekly Market Commentary The Federal Reserve held the fed funds rate at 5.00–5.25% following ten consecutive rate increases that began in March 2022. The move was anticipated as policymakers had previously expressed their intention, allowing them time to assess the...
by Mark Chandik | Jun 12, 2023
Weekly Market Commentary The S&P 500 Index, which tracks 500 large publicly traded companies, entered a new bull market last Thursday, according to the general definition of a 20% rise from the most recent low. Let’s review some key mileposts. The index hit an...
by Mark Chandik | Jun 5, 2023
Weekly Market Commentary May nonfarm payrolls surged past economists’ projections of 190,000 per DJ Newswires, soaring by 339,000 (see Figure 1) as reported by the U.S. Bureau of Labor Statistics (BLS). Surprised? Despite its strength, payrolls have mostly...
by Mark Chandik | May 30, 2023
Weekly Market Commentary The days of pulling up to a gas station, rolling down the window, and asking the attendant to fill ‘er up are long gone. Nowadays, the responsibility falls on someone in the car to pump the gas. As we head into the summer season, it’s no...
