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Wall Street Breakfast

Wall Street Breakfast May 27: Mortgage Rates Continue to Fall on Headwinds Facing Economy

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8950 Ratings

🗓️ 27 May 2022

⏱️ 8 minutes

🧾️ Download transcript

Summary

Mortgage rates continue to fall on headwinds facing the economy. Biden climate formulas upheld for now by the Supreme Court. Nearly one in five home sellers lower price, the highest rate since October 2019. Catch today’s WSB article here.

Transcript

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0:00.0

Welcome to Seeking Alpha's Wall Street breakfast, your daily source of market news and analysis.

0:06.8

Subscribe to this podcast on Apple Podcast, Spotify or Stitcher.

0:11.2

Good morning. Today is Friday, May 27th, and I'm your host Julie Morgan.

0:15.8

Our top stories.

0:17.4

Mortgage rates, climate, and home prices.

0:20.5

Mortgage rates continue to fall, but what's the difference between now and a year ago, and will this trend continue?

0:26.1

The Supreme Court upholds the Biden administration's climate formulas.

0:30.1

What does this mean for what's happening in the lower courts?

0:33.2

And one report says nearly one in five home sellers have lowered their price.

0:37.6

When was the last time this happened?

0:39.6

First, let's take a look at Thursday's market. The Dow Jones closed up 517 at 3,637.

0:47.0

The S&P 500 was up 32 to close at 4,050, and the NASDAQ up 306 at 11,741.

0:55.8

On our day watch, we have one stock that stands out.

0:58.6

Thursday, we told you in the earning spotlight that Dollar Tree would be reporting.

1:03.0

Thursday, Dollar Tree closed up nearly 22% at 163.

1:07.3

DLTR is up 50% compared to a year ago.

1:11.0

We'll look at Dow S&P and NASDAQ futures in a few minutes as well as the world markets.

1:16.5

In the earning spotlight today, Sanderson Farms and Canopy Growth Corporation.

1:22.3

Now on to our top stories.

1:24.2

Mortgage rates are falling.

1:25.8

The 30-year fixed rate average 5.10%

1:29.3

for the week ending May 26th.

...

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