"The Weight" Takes Time - TMSpotlight by Les Parker
Aug 30, 2024•1 min
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Episode description
08-26-24 "The Weight" Takes Time
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Take a load to Fannie. Take a lock for free. Ship The Weight to Ginnie.
Our target of a sub-6% mortgage is 50 bps away. Softening Jobs and receding inflation expectations give credence to the FOMC minutes and Powell's speech, signaling a September ease. Market exuberance has built 100 bps of easing by New Year's Eve.
Oxford Economics expects the 2-year/10-year yield curve slope to shift entirely into positive territory by the first quarter. The stubborn inversion means lower mortgage rates will take time.
And (close) (close) loans borrowers right with glee.
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Song: The Weight (1968)
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