Rates shot up yesterday primarily in response to a much stronger than expected Gross Domestic Product report, indicating that the US Economy is growing much faster than expected. This news sent stock prices way up and bond prices down, as investors left bonds for stocks.
This is the type of news (along with strong employment numbers) that sends signals to the Fed that “All is OK” and maybe it’s time to allow rates to climb.
Happy Holidays from everyone at JVM Lending!
Lindsey Hansen, Tiffany Nordgren, Diandra Prutton, Erin Piper, Jenna Armstrong, Alexandria Chan, Sean Yates, Neetu Machaiah, Chingchi Yu, Denise Truono, Chris Baker, and Jay Voorhees.
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