Home sales dropped in March due to rising mortgage rates around 7.5%. The number of homes for sale has increased, but it's not enough to offset the impact of higher borrowing costs. The median home price hit a record $393,500. First-time buyers are struggling with affordability challenges, while investors are pulling back. The housing market is stuck in a narrow range, with sales low due to affordability and inventory shortages.
In early 2024, it was expected that inflation would gradually subside and the Federal Reserve (Fed) would lower interest rates. However, recent data has shown that inflation is more persistent than anticipated, with rising prices for goods and services across the board. This has caused the Fed to reconsider its plans and delay any potential rate cuts. The news has led to market volatility and concerns that the battle against inflation will be prolonged.
The Securities and Exchange Commission (SEC) is hosting a conference where they will discuss their upcoming priorities for the year. Key issues include updating disclosure rules, shortening the securities settlement cycle, and increasing competition for individual investor orders. The SEC's main mission is to protect investors and maintain fair and efficient markets. Enforcement is also a key focus, as investigators prosecute violations of securities laws.
