It’s Bill Rapp, the Mortgage Viking here, let me tell you about what the Good Ole Boys on Wall Street are talking about today…
Rates are rising slightly across the curve this morning as investors hope for an easing in trade tensions. The 10Y yield continues to hover around 2.90%
With the Fed’s December rate hike largely priced in, it is unlikely that any modest fluctuations in the November CPI data would change the near term course of gradual monetary policy normalization. November’s headline print will likely take a hit from falling gasoline prices, which should result in a flat reading.
The Small Business Optimism Index fell the most since March, declining in November to 104.8 from 107.4 the month prior and a record high 108.8 in August. The result was below consensus expectations for a print of 107.0, and more in-line with Bloomberg Economics’ forecast of 104.0. Despite the magnitude of the retracement, optimism remains elevated by historical standards.
Expectations for better economic conditions plunged 11 index points to 22.0, the lowest level since November 2016 (12.0). Then, the sub-index surged from -7.0 in October to 50.0 in December. At present, this sentiment-driven indicator is down more than 50% from post-2016 election highs.
The drop in sentiment masked a stunning surge in net compensation plans to the highest level in nearly three decades (25.0 vs. 23.0 prior). This result was topped only by the December 1989 print. The increase bodes well for a continued advancement in wage growth next year.
Recall that average hourly earnings registered two consecutive record increases on a year-over year basis (3.1%), per the latest payrolls report.
I will leave you with this thought, only 13 Days left till Christmas! If you are seriously considering moving right now you need to take action right now and talk to a reputable Real Estate & Mortgage Broker today, please call 281-222-0433 or visit:
https://www.HoustonRealEstateBrokerage.com/ https://mortgageviking.billrapponline.com/ https://highcostarea.billrapponline.com/ https://commercial.billrapponline.com/ https://renovationvideo.billrapponline.com/ https://doctorvideo.billrapponline.com/