Weekly Market Observations — May 2, 2023

Here’s Our Weekly Market Observations :

Apartment demand turns positive in Q1

US GDP growth slows to 1.1% in Q1

National pending home sales fell 23.2% YOY and 5.2% MOM

Feds seized failing First Republic Bank and sold it to JPMorgan

Average 30yr fixed mortgage rates are up slightly to 6.43%