Fed Minneapolis President, Neel Kashkari said the Fed is not as restrictive as it appears.

Translation, they are holding off cutting rates.

Regardless of the Raw data, the Feds continue their stubbornness regarding the true nature of what is going on. Credit card and auto loan defaults are on the rise. This is the canary in the coal mine. The ongoing layoffs in the high-tech sector will undoubtedly affect employment figures, compounded by a notable exodus from the labor market, resulting in the exclusion of those individuals from official counts.

Used car prices are down per Manheim Used Car Index. it’s an important component of inflation. The cost to finance is expensive and the Covid money disappears.

We are still holding on to our improved rates this year, so get out there and start looking for your new home.