CHOPPY BUT RESILIENT… Markets moved back and forth last week as traders balanced strong earnings results with ongoing uncertainty around inflation and future Fed policy. By week’s end, major indexes finished mixed but remained close to recent highs.
Some caution came from economic data. Labor productivity softened and factory orders dipped, while traders watched upcoming inflation reports closely for confirmation that price pressures continue easing.
The week ended with the Dow down 0.4%, to 49,210; the S&P 500 down 0.2%, to 6,915; and the Nasdaq up 0.1%, to 23,540.
Bond prices edged lower overall, though the 30-Year UMBS 5.0% finished little changed on the week. Freddie Mac reported the national average 30-year fixed mortgage rate showed minimal movement in its Primary Mortgage Market Survey. Remember, mortgage rates can be extremely volatile, so check with your mortgage professional for up-to-the-minute information.
DID YOU KNOW…Homes listed early in the year typically face less competition, and sellers are more likely to entertain negotiations —making the first quarter an opportunity-rich window for buyers.
