Oil War Rages On, Wall Street Ignores It... Dow Nears 52,000

Mortgage rates, Federal Reserve, inflation, PCE report, oil prices, Iran conflict, Dow Jones, mortgage rate forecast — here's what moved rates today and what the Fed does next.

The Fed just came out and the mortgage bond market took a wild ride because of it. Inflation on the PCE report came in better than expected at 3.3%, jobless claims stayed low, and the Dow is nearing 52,000... but the Fed is still showing a 60% chance of a rate hike at the next meeting. On top of that, the oil war overseas is still raging and could send rates jumping if it escalates. In this video I break down exactly what's driving mortgage rates right now and what I'm telling my own clients to do about it.

I go deeper on this in my blog post, Is the Fed About to Trigger a Mortgage Rate Shock?: https://www.therateupdate.com/blog/is-the-fed-about-to-trigger-a-mortgage-rate-shock

Chapters:

0:00 Intro – Inflation, Oil War & What the Fed Does Next 1:30 The Rate Chart – What Happened After the Fed's Comments 3:15 PCE Inflation Breakdown (3.3% Reading) 5:15 Jobs Data, Oil Prices & the Iran Conflict Risk 7:30 Dow Nears 52,000, Fed's 60% Hike Odds & Locking Your Rate

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Welcome to The Rate Update with Dan Frio.

This channel helps homebuyers, homeowners, real estate professionals, and anyone watching the housing market understand what is really happening with mortgage rates, housing, inflation, the bond market, the Federal Reserve, and the economy.

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I am a licensed mortgage loan officer in all 50 states and Puerto Rico. NMLS #246527 | TRU Mortgage Team / PBT Bancorp NMLS #257781 | Equal Housing Lender.

This channel is for education and commentary only. Topics may include mortgage rates, real estate, housing, stocks, bonds, cryptocurrency, inflation, the Federal Reserve, and financial markets.

All opinions are my own and do not represent PBT Bancorp, TRU Mortgage Team, or any financial institution I may be employed by or affiliated with.

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