CNBC's "Fast Money" Fed Flying Blind Ahead Of Rate Decision… And A Homebuying Bummer 10/28/25
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Oct 28, 2025 Mike Fratantoni, Chief Economist at the Mortgage Bankers Association, shares insights on the current and future state of mortgage rates and the housing market. He predicts that rates may linger above 6% through 2028 due to economic factors like term premiums and tariffs. Fratantoni also discusses the increasing housing inventory and the different responses from first-time buyers compared to move-up buyers in this challenging market. Tune in for expert analysis on how these trends affect home buying decisions!
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NVIDIA's Massive Order Surprise
- NVIDIA reported $500 billion in cumulative orders for Rubin and Blackwell chips through 2026, signaling demand far outpacing expectations.
- That strong demand underpins the view of NVIDIA as the central AI infrastructure player driving capex and software adoption.
NVIDIA's AI Flywheel
- Panelists debate NVIDIA's valuation but note its expansion from hardware into platform and software cements its central role in AI.
- The circular ecosystem of investments, partnerships and chip purchases amplifies NVIDIA's strategic moat.
Fed Decision With Missing Data
- Markets are pricing near-certainty for a 25bps Fed cut despite missing recent jobs data due to the shutdown.
- Panelists warn that missing data makes the Fed and markets effectively 'flying blind' into decisions.