Mortgage Rates Down Big, But Lagging Other Indicators
Breaking Down the Big Move in Rates and Considering The Road Ahead
The 2nd and 3rd largest bank failures in history have happened over the past 3 days. Markets reacted in a logical direction. If anything, the drop in rates was made bigger by the fact that the market is searching for evidence that it's time for the Fed to dial back its hawkish rate policies. That's what today ended up being mostly about: the market betting on a MUCH lower rate hike profile in the coming months (and rate CUTS starting in a few short months). Between Tuesday's CPI data and next week's Fed announcement we'll have the data we need and the requisite amount of
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