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Markets In A Minute 1/7/2022

By: 1RATE / 07 Jan 2022
In last month's meeting minutes, the Fed said a strengthening economy and higher inflation could lead to earlier and faster policy rate increases.
A record 4.5 million workers quit their jobs in November as workers looked for better jobs and wages. Job openings declined to 10.6 million.
Private job growth totaled 807K in December according to ADP, surpassing the Dow Jones estimate of 375K and November's 505K gain.



Mortgage rates crept up this week, hitting a 9-month high. However, rates are still very low when compared historically.
Total mortgage applications fell by 2.7% on a seasonally adjusted basis during the holiday week. Purchase apps were down 4%, while refi apps dropped 2%.
The FHFA announced upfront fee increases for second-home and high-balance loans beginning on April 1.

"To the person who does not know where he wants to go there is no favorable wind."

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