Lending & Mortgage Update – Jan 10, 2023

UPDATE: 1/10/2023

Stocks and Mortgage Bonds both started lower today.

Former Dallas Fed President, Richard Fischer, said that the Fed wants to remain hawkish because they do not want to make another mistake. The big mistake that they made was thinking that inflation was transitory and not reacting soon enough.

Powell spoke this morning and the markets were bracing for his comments, as he has been known to spook them with some of his commentary, but he did not say anything substantive. He only spoke on the importance of the Fed independence from politics.

The NFIB December small business optimism index dropped from roughly 92 to 90, the lowest since June 2022 and a hair from the weakest since 2013. Overall, small business owners are not optimistic about 2023 as sales and business conditions are expected to deteriorate. Owners continue to call inflation their top business problem.

For updated Lake Tahoe Real Estate Market data check out our MARKET UPDATE page.

***Information given above is provided by local trusted lenders.

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