Video

April 19, 2024
Airs live on YouTube
April 19, 2024

Uncertainty Is the Prevailing Theme on Wall Street

Market Update

Coming Soon

Follow us on YouTube to watch live!

Certainty vs. uncertainty. Uncertainty right now is the prevailing theme on Wall Street. With human nature, uncertainty leads to conservative actions. Wall Street never wants to be caught on the wrong side of the tracks. Right now, they are standing far away so as not to be hit by the potential of an oncoming train.

Let's talk about some of the uncertainty in the marketplace impacting the decisions on Wall Street right now:

1) Inflation. Is it stable or is it going up? The latest CPI report shows it may be going up, or at least not coming down like they want it to. It's a long way from their 2% target.

2) Jobs. Job growth continues to move forward month after month. Where are they all coming from? Are they good jobs? Most of them are. A lot of them are government. Lots are part-time, and many are in the service sector.

3) Global instability. This is another uncertainty. Does anyone really know how the various conflicts will play out or how long they will last? Will gas prices go up because of all the problems in the world?

4) Presidential election. Will either candidate actually be running for president in November? The divide in the U.S. can be polarizing. Which candidate provides more stability?

There are many other uncertainties out there that will just take time to unfold.

We seem to be in a hurry-up-and-wait situation that will likely take months before Wall Street feels comfortable making concrete decisions. In the meantime, they will likely overreact, run for cover, and then peek their head around the corner to see if the train is coming or if it's left the station.

Uncertainty, for the most part, leads to inaction and or just freezing in place.

That said, rates will likely remain at these elevated levels probably through the end of 2024 and not improve until after the November election.

Video Transcript for
Uncertainty Is the Prevailing Theme on Wall Street
RSS Feed
Featuring:
Bill Gaylord
, NMLS
680603
|
Gaylord-Hansen Team at CrossCountry Mortgage

The information contained is the viewpoint of the presenter(s). Individuals should consult their own financial representative.

Estimated Mortgage Payment is for exemplary purposes only. Contact a licensed loan officer for exact numbers and APR. Additional rates and terms may apply and are subject to change without notice. Loan scenario assumes a purchase price of Zillow's list price and a 10% down payment. Points and fees not included. Property tax, homeowners insurance, mortgage insurance, and HOA fees are approximate and may vary. Other fees may apply. Product displayed is a conventional 30-year fixed rate mortgage using the current average rate as shown on Mortgage News Daily (mortgagenewsdaily.com).

Estimated Qualifying Income assumes a homebuyer has a FICO score above 740, no other credit debt, and a debt-to-income (DTI) ratio of 43%.

For exact numbers and APR or to run a loan scenario based on your own credit and income, contact our office at (858) 259-8700.

Rate Source: Mortgage News Daily. Rates displayed are approximate, subject to change, and do not necessarily reflect rates available to you. MND’s methods involve an objective component based on lenders' raw prices as well as a subjective impression from their network of originators. For more information about how these rates are calculated, visit www.mortgagenewsdaily.com/mortgage-rates/about.

Mortgage News Daily (MND) is a trademark of Brown House Media, Inc. Zillow is a trademark of Zillow, Inc. CrossCountry Mortgage has not been authorized, sponsored, or otherwise approved by Brown House Media, Inc. or Zillow, Inc.

Equal Housing Opportunity. All loans subject to underwriting approval. Certain restrictions apply. Call (858) 259-8700 for details. All borrowers must meet minimum credit score, loan-to-value, debt-to-income, and other requirements to qualify for any mortgage program. CrossCountry Mortgage, LLC is an FHA Approved Lending Institution and is not acting on behalf of or at the direction of HUD/FHA or the federal government. CrossCountry Mortgage, LLC is not affiliated with or acting on behalf of or at the direction of the Veteran Affairs Office or any government agency. Certificate of Eligibility required for VA loans. By refinancing, the existing loan total finance charges may be higher over the life of the loan.

Additional Resources

A picture from mortgage university
Watch Now:
Read More:
No More Waiting on the Sidelines!
Mortgage market recap for May 24, 2024
A picture from mortgage university
Watch Now:
Read More:
Your Agent Is the Key To Pricing Your House Right [INFOGRAPHIC]
The asking price for your house can impact your bottom line and how quickly it sells.
A picture from mortgage university
Watch Now:
Read More:
Questions You May Have About Selling Your House
Here are three of the top questions you may be asking – and the data that helps answer them.