Anthony Chan
Anthony Chan
clear crystal low mortgage purchase sales starting supporting taken
We see the slowdown crystal clear in the MBA purchase index, and it's starting to show up in monthly sales data. The one thing that was supporting the market, low mortgage rates, is being taken away.
higher housing mortgage question rates shine
There's no question these higher mortgage rates will take some of the shine off the resiliency in the housing market,
home maybe might months mortgage people preparing rates realize remember six starting
Rates might be low, but people are starting to realize that rates will go up. Remember you've got to get a mortgage down the line, maybe six months out when the home is complete. People are preparing for it.
bit housing mortgage precisely rates start turn
Mortgage rates will put a little bit of a brake on housing activity, ... but it may come precisely as other sectors start to turn around.
behind creeping federal general housing increase last market mortgage rates reserve seen several tone year
Several times in the last year we've seen mortgage rates creeping up and housing hasn't responded. Now the Federal Reserve has put some credibility behind the increase in rates. I think it set a general tone for the housing market that it'll be a lot more muted.
expected higher housing impact mortgage rates
Higher mortgage rates are having the expected impact on the housing market.
ask consumers decline economy funds mortgage reliable source turning
You've got to ask yourself, will we have another 100-to-150 basis-point decline in mortgage rates? ... I would say that's a stretch, so it's not going to be a reliable source of funds for consumers -- we'll need to see the economy turning around.
federal pressures react reserve starting
Inflationary pressures are starting to percolate --and the Federal Reserve is going to react to this.
cannot capital carry consumers economy far hope knows provides recovery report spending
Everyone knows that consumers cannot carry the economy indefinitely on their own, and this report provides some hope that the long-awaited capital spending recovery may not be too far off.
fever market present sign year
The bidding fever that was present a year or so ago has all but disappeared, and that's another sign that this market is slowing.
average best data distorting hurricane jobs month numbers quite wider
The best way to read the numbers is going to be to average the two months' data because the hurricanes are distorting the wider picture, ... But excluding the hurricane effects, we're doing 190,000 to 200,000 new jobs a month and that's quite healthy.
alan best bit certainly continue describe financial great greenspan inflation markets prove realize report worried worries
The best way to describe this report is 'holy cow,' ... This is a great report. We have Alan Greenspan a little bit worried about inflation and certainly the financial markets will realize that those worries certainly continue to prove to be unfounded.
average becoming earnings fed figures price start tells truly vigilant
The average hourly earnings figures were truly the spoiler of this report, ... It tells us that the Fed may now have to start becoming more vigilant about upcoming price pressures.
appetite auction foreign itself positive remain securities
The auction also showed that foreign appetite for our securities remain voracious, which in itself is another positive sign.