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Mark Hemingway

Mortgage Market Update for April 12

Saturday, April 13, 2019 - Article by: Mark Hemingway - Security Financial Services, LLC - Message

Corporate earnings season kicked off on a high note today with the banking sector coming in with solid numbers. Both JPMorgan Chase and Wells Fargo beat expectations for revenues and profits. Earnings season will give investors insight as to whether or not the US economy is cooling and what will be guidance and forecasts for the coming quarters. S&P 500 earnings have risen every quarter since Q1 2016 but are expected to decline in Q1 2019.

Consumer Sentiment edged lower in early April following the small gain posted in March. The preliminary April Consumer Sentiment Index fell to 96.9 from 98.4 in March while the index during the past 30 months the index was higher than any other time since 1997 to 2000. The report showed that consumers have increasingly voiced complaints about rising vehicle and home prices, and slight declines in unit sales of both markets are anticipated in 2019.

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