Weekly Market Observations - March 21,2023

Here’s Our Weekly Market Observations :

The Fed expected to hike rates 0.25% this week

Inflation easing but remains at multi-decade high with February’s CPI at 6% YOY

Home prices fall by 0.2% in February, the first YOY decline since 2012, while sales spike 14.5% from January

New housing starts increased in February increased 9.8% from January but remain 18.4% lower YOY

Rental affordability decreased slightly in February rent making up 25.3% of household income

Average 30yr fixed mortgage rates down slightly to 6.60%