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Weekly Market Update

10/14/2023


Mortgage rates fell this week, with international events pushing investors to buy bonds and push down mortgage rates. Bonds are seen as less risky assets by investors, and investors will buy that asset during volatile times. There is also an impact on oil, spiking the price to $86 a barrel. Inflation for September came in slightly higher than expected. Inflation is being persistent, and it is proving that the move from 4% to 2% is much harder than the move from 8% to 4%. Fed speakers have acknowledged that they are monitoring inflation and if it does not hit their inflation target of 2%, they will raise rates further to hit their target. Currently, the market is hardly pricing in a November rate hike but is starting to price in a December rate hike. This is something that the markets will keep a close eye on as it digests the news and data that comes in these upcoming weeks.









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