The Talas Report Market Mondays: 10/23/23

Hello, fellow real estate and market enthusiasts! It’s Robert Talas here, and I’m excited to share the latest insights from the world of finance, stocks, mortgage rates, and homeownership. In this edition of Market Mondays, I’ll be summarizing and offering key takeaways from four noteworthy articles. Let’s dive right in.

Global Stocks Markets Experience Decline Due to Inflation and Rising Interest Rates

In the first article from The Wall Street Journal , it is reported that global stocks markets are experiencing a decline due to concerns over inflation and rising interest rates. The Dow Jones Industrial Average fell by 0.5%, while the S&P 500 and Nasdaq Composite both dropped by 0.4%. Here are two takeaways from this article:

• The decline in global stocks markets is due to concerns over inflation and rising interest rates.
• The Dow Jones Industrial Average fell by 0.5%, while the S&P 500 and Nasdaq Composite both dropped by 0.4%.

New Listings Data Remains Unaffected by 8% Mortgage Rates

In the second article from HousingWire , it is reported that new listings data remains unaffected by 8% mortgage rates. Despite the rise in mortgage rates, new listings data has remained steady, with no noticeable impact on the latest new listings data. Here are two takeaways from this article:

• New listings data appears unafraid of the mortgage rate ghost story over the last few months.
• Unlike last year, when new listings data had a noticeable move lower once mortgage rates reached 6%, 8% mortgage rates haven’t had any noticeable impact on the latest new listings data.

Mortgage Rates Fall to Their Lowest Point in a Week

In the third article from Mortgage News Daily , it is reported that mortgage rates have fallen to their lowest point in a week after starting higher due to overnight weakness in the bond market. Despite starting higher, bonds experienced a fairly strong rally between 10am and noon ET, which allowed almost every mortgage lender to issue updated rate sheets with lower rates. Here are two takeaways from this article:

• Mortgage rates began the day in higher territory due to overnight weakness in the bond market.
• Bonds experienced a fairly strong rally between 10am and noon ET, which allowed almost every mortgage lender to issue updated rate sheets with lower rates.

Homeowners Spend Less on Renovation and Remodels

In the fourth article from National Mortgage News , it is reported that homeowners are spending less on renovation and remodels. According to a recent survey, homeowners are spending less on renovation and remodels due to rising costs of materials and labor shortages. Here are two takeaways from this article:

• Homeowners are spending less on renovation and remodels due to rising costs of materials.
• Labor shortages have also contributed to homeowners spending less on renovation and remodels.

Thank you for reading Market Mondays! For more information on these articles, please refer to their respective sources below.