The difference between adjustable rate and fixed rate mortgages increased a little yesterday as we saw some yield curve steepening. This is evidenced by the 2s10s spread widening by six basis points to 91 bps after widening by seven basis points on Monday. Economic data released yesterday includ...
Keep in mind that March nonfarm payroll employment data will be the headline this week. Growth likely decelerated in March, holding the unemployment rate unchanged and indicating the modest margin of slack in the economy is slowing wage growth to a pace more typical of a balanced job market. ...
Judging by the Fed meeting minutes released last week, while unemployment has dropped to 4.6 percent, far below the 14.8% seen at the height of the lockdowns in 2020, it is the labor force participation rate that bears close observation in any attempt to forecast when the Fed may spike ...