Moore Mortgage Solutions

    It seems like we will stay in this volatile market for the time being.

    The market opened yesterday with news that February Housing Sales figures were better than expected--January’s figure was 10.3 while February was 9.6. Though this is good news, the market was expecting the figures to be worse. This, in turn, started a rally for stocks causing money to be taken out of the bond market.

    Today the market opened with news that the Consumer Confidence for March was at 64.5. The market expected 73.4. This is a 35 year low. But it caused the stock market to lose money and the bond market to gain.

    Unfortunately, the gains that we have witnessed this morning are starting to lose ground. We will probably see some see-sawing back and forth until Friday when the next important news comes out.

    Friday, the Personal Consumption Expenditures (PCE) and Core PCE will be reported. The Federal Reserve looks closely at this report as it is their favorite gauge of inflation. And with the Fed lowering the Fed Fund Rate for the sixth time in a row, the bond market will be looking closely at this figure as well. Remember, inflation is the arch enemy of the bond market.

    In the meantime, I am available to help you decipher the market conditions and help you make informed decisions.

    Until next time, make every day an inspired day!

Betsy Moore

betsy@mooremortgagesolutions.com

206-331-2749