As we all prepare to strap into that Thanksgiving table, I wanted to share some financial news to spice up your holiday feast. Forget about turkey-induced tryptophan; let’s talk about the market’s twists and turns that might leave you more awake than Aunt Edna’s coffee!
So, while you’re passing the stuffing, consider this: Stocks might be lower, but Mortgage Bonds are on a triumphant rally, clearing new technical levels faster than Grandma can set the table. And as oil prices drop, we’re looking at inflation doing the limbo, moving lower and lower.
In the spirit of giving (and gobbling), Former Fed Vice Chair Roger Ferguson thinks the Fed is putting away the hiking boots and donning cutting-edge style in the second half of 2024. History says we might see rate cuts around May 2024, just in time for spring showers and monetary policy flowers. However, I made the call this past May that inflation would be making significant strides, but boy, oh boy, was I wrong. As always, taken with a grain of salt, please!
Another serving you say: The Fed has been on a diet, doing quantitative tightening (“QT”) since June 2022. They’ve shed over 1.5 trillion, roughly the equivalent of all the leftovers in your fridge from last year’s feast.
Initial Jobless Claims rose, signaling a steady increase in layoffs. It’s like the employment pie is shrinking, and everyone’s fighting for a smaller slice. Don’t worry; we’ve got bond-friendly news to balance it out. Import prices are falling, and the Philly Fed is so negative it’s practically positive—clearly, manufacturing is in a turkey trot.
But the real star of the show? Inflation. The October Producer Price Index (PPI) report came in cooler than the mashed potatoes at your in-laws’. Year-over-year, producer inflation fell from 2.2% to 1.3%, like a deflating Macy’s Day Parade balloon.
And, speaking of parades, the market is doing its own dance after the recent CPI report. Odds of a rate hike in January? A mere 2% as likely as finding a black Friday deal on a unicorn.
In conclusion, as you pass the gravy boat, remember the market might be on a rollercoaster, but at least it’s not as bumpy as Uncle Norm’s mashed potatoes.
Happy Thanksgiving, and may your investments be as diverse as your dessert choices!
Gobble on,
Jonathon
Go LIONS!
We couldn’t be more excited – Bison Ventures is now licensed in Utah, our 17th state! 🎉 And no one was more thrilled than our Client Relations Coordinator @gabbie.hajjar who was so inspired she baked a cake in the shape of Utah to celebrate the big news! 🎂 Her energy mirrors how pumped we are to be expanding and helping even more families.
At Bison Ventures, we believe in celebrating every milestone, whether it’s with creative baked goods or by making the homeownership process as smooth as possible. We’re ready to bring our informed lending expertise to Utah and continue growing with you. Here’s to new adventures and sweet victories! 🏡✨
AGENTS! 📊 Get ready for the September edition of the Cromford Monthly Market Update with Senior Analyst Tina Tamboer! Tune in next Thursday to get the latest insights on the market trends that matter most. Don’t miss out on the knowledge that could elevate your business. Zoom link will be sent out soon—stay tuned! 🚀
Happy #nationaldogday 🐾 Meet Stanley, our ridiculously adorable Bison Office Rescue Dog! @ianthesullivan - please continue to bring him to work after Doggie Boot Camp!!!
Yesterday, the Bison Herd spent the afternoon at St. Mary’s Food Bank, giving back to a community that means so much to us. We’re big believers in the idea that small actions can make a big impact. If there’s a cause that matters to you, we encourage you to get involved—every bit helps. Together, we can make a difference.
Thank you @stmarysfoodbank for allowing us to contribute 😇
Back when we were hustling as The Crawford Team, building lasting relationships, and setting the stage for what Bison Ventures is today. Grateful for every lesson, partnership, and success that got us here. Here’s to the journey! 💼✨
▶️ Check out the latest Bison Brief with Stuart Crawford ▶️
RATES…what are we seeing? 📉
Currently, the national average for a 30-year fixed mortgage is around 6.75%, lower than the historical average (dating back to 1971). With limited housing supply and increasing demand, now might be the perfect time to make your move! 🚀
Looking for straightforward guidance from a team of seasoned loan officers? We’d love to chat. 🦬 bisonventures.com
🦬 Bison Ventures has been named a finalist in the @phxbizjournal Small Business Awards! We’re thrilled to be recognized alongside so many inspiring companies.
✨ As an emerging local business, being acknowledged for our entrepreneurial spirit and dedication to our community is incredibly rewarding. This nomination underscores our commitment to growth, innovative approach in the mortgage industry, and unwavering vision for the future. We’re incredibly proud to add this recognition to last year’s Best Places to Work award 🏆
A big thank you to the Phoenix Business Journal - your contributions to the Valley’s business community are invaluable! 💫