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…
We look for the Fed to modestly follow-up on recently dovish comments at the December 18-19 meeting. The Fed currently expects three more rate hikes next year, I think that falls to two as the growth outlook looks is not where we need it to be.
The market is barely pricing one more rate hike in 2019. While we expect a more dovish or relaxed outcome.
Q4 GDP or Gross Domestic product is about to get a consumer-led boost, but growth outlook remains murky.
U.S. consumers are getting a break at the pump as gas prices have fallen sharply in recent months, helping to give a boost to spending elsewhere.
Friday’s Retail Sales report came in better than expected, as rising wages and falling gas prices are providing a tailwind for consumers.
However, as global growth concerns have been percolating for some time now, concerns are growing that the U.S. may be soon to follow as fiscal stimulus is set to fade in 2019.
I expect the rate hike path to be downgraded to 2 from 3, and for GDP expectations to fall as well.
I will leave you with this thought, only 8 Days left till Christmas!
This is Bill Rapp, the Mortgage Viking, and please do not forget to subscribe and share this post if you found it useful!
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