10 Clever Movies That Are Guaranteed To Blow Your Mind
Everyone enjoys a good film that makes you think throughout watching it. But the real prize is getting a movie that melts your brain well after the film ends and possibly even for years to come. After polling the internet, people voted these films the most likely to blow your mind. 1. Jacob’s Ladder (1990) … Read more
Delta scraps new Dallas route before it even launches
Fed Hikes Rates; Rates Drop Sharply. Here’s How That Works
There was some debate as to whether or not the Federal Reserve would hike the Fed Funds Rate today, although the consensus was for a 0.25% increase. That’s exactly what the Fed delivered. Additionally, markets were (and still are) betting that the Fed cuts rates by roughly 0.75% by the end of the year, but the Fed’s just-released forecasts show zero rate cuts by the end of the year and slightly HIGHER rates by the end of 2024. Despite all this, Treasury yields (a benchmark for mortgage rates) and mortgage rates themselves fell significantly after the Fed news came out. Why in the world could that happen? First off, the Fed Funds Rate is not a mortgage rate, nor does it directly affect mortgage rates by the time the Fed actually hikes or cuts. More importantly, Fed Chair Powell spoke about upcoming tightening of lending conditions due to the recent banking drama. That may seem like a simple enough comment, but it carries a lot of weight in terms of shaping economic momentum. Lending and credit are critical to growth and inflation. If lending subsides (fewer loan programs or more restrictive requirements to qualify), it puts additional downward pressure on inflation. And inflation is the key reason rates have remained high. Long story short, in spite of the Fed rate hike and the relatively unchanged outlook for 2024, the market saw some indication of a policy pivot in Powell’s comments–some shifting of the big picture cycle of economic growth and inflation. Either that, or Powell’s warning on banks caused investors to fear additional banking issues in the days/weeks ahead.
Compare current VA mortgage rates â USA TODAY Blueprint – USA TODAY
Compare current VA mortgage rates â USA TODAY Blueprint USA TODAY
Tellus Review: Real Estate That Pays Like A High Yield Savings Account
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The Most Beautiful Apartments in New York
Find your new spot in New York today.
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10 Hot Garbage Films People Love Anyways
What movies make you go, “Yeah, this is an objectively bad movie, but man, I love this hot garbage”? After recently polling the internet, here are the top-voted films. 1. Rock-A-Doodle (1991) “Mine isÂ Rock-a-Doodle, a much lesser known (for good reason) animated movie from Don Bluth about a Rooster who leaves a farm and becomes … Read more
One of The Most Important and Interesting Fed Days in a Long Time
It’s difficult and probably not that important to rank today’s Fed day against other iterations over the past few years. It’s easy to say that it is probably the most interesting Fed day in at least a few years. We wouldn’t even entertain competition after the start of the tightening in late 2021 and that was arguably broadcast fairly clearly. The only reason to bring this up is to reiterate that there’s a lot to learn about how this Fed regime will balance financial stability against its inflation fighting goals. Past comments give a clear nod to inflation fighting, but this is their chance to confirm it with a rate hike and no major change in the dot plot. Timing of events this afternoon: 2:00PM ET – Fed Announcement AND the dot plot. 2:30PM ET – Fed Chair Powell press conference begins We continue to assume that the dot plot will be at odds with the market’s expectations based on Fed Funds Futures. Dots were fairly unified for a 5.0-5.25 rate by the end of 2023 as of the December meeting. If anything, hawkishness increased since then. Fed Funds Futures have a drastically different take for the end of 2023 after the recent bank drama: Futures admittedly aren’t designed to predict the dot plot. We would expect the dots to act as a policy tool to some extent even if Fed members secretly suspect rates could end up lower than their dot suggests. More simply put, the dots are based on the info available today about inflation and its trajectory whereas futures go a step farther and consider how recent events are likely to shape inflation and the economy in the near future. Bottom line: it won’t be a surprise to see the dots at odds with futures. It will simply be interesting to see how big the differences are and how markets react to that. The stakes for longer-term rates are bookended by 3.40 and 3.6 yet again, although 3.60 is a much softer pivot point seeing as how it’s been broken twice in the past few months.
Median Down Payment on a House Falls to 10%, Down from 14% a Year Ago
Down payments are falling as the housing market slows and competition wanes. A new report from Redfin revealed that the median down payment in January 2023 was 10%, down from 13.6% a year earlier and well off the pandemic-era peak of 17.5% last May. They are now similar to levels seen between 2015 and early… Read More »Median Down Payment on a House Falls to 10%, Down from 14% a Year Ago
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