Bloomberg Intelligence
US Mortgage Rates Drop, Nvidia Earnings
Aug 28, 2024
Erica Adelberg, Chief Mortgage-Backed Securities Strategist at Bloomberg Intelligence, discusses the recent drop in U.S. mortgage rates to a record low, revealing its potential effects on the housing market. Shelby McFaddin from Motley Fool shares insights on Nvidia's pivotal role in AI and the associated market risks. Mary Ross Gilbert examines retail earnings trends, while Sylvia Jablonski, CEO of Defiance ETFs, provides her market outlook amid economic shifts. The conversation highlights consumer spending dynamics and upcoming challenges for major retailers.
39:31
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Quick takeaways
- The recent drop in U.S. mortgage rates to 6.44% is influencing refinancing activity, yet overall purchase demand remains low due to affordability issues.
- The retail sector's performance varies significantly, with resilient higher-income consumers contrasted by weaker sales amongst lower-income shoppers, leading to changing spending behaviors.
Deep dives
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