Mortgage rates rise to a 20-month peak
Mortgage rates climbed to a 20-month high this week, following the Federal Reserve’s tilt towards a more hawkish monetary approach.
The 30-year fixed-mortgage rate averaged 3.22% for the week ended Thursday, vs. 3.11% last week and 2.65% a year earlier, according to Freddie Mac. The latest week’s level was the highest since May 2020.
Sam Khater, the mortgage agency’s chief economist, suggested that rates can be expected to increase, amid higher inflation and tight labor market. “The impact of higher rates on purchase demand remains modest so far given the current first-time homebuyer growth,” Khater said.
Fed minutes released Wednesday from its policy meeting last month indicated that inflationary pressures could propel policy rate hikes “sooner or at a faster pace than participants had earlier anticipated.”
Momentum Indicator for MORT turns positive, indicating new upward trend
MORT saw its Momentum Indicator move above the 0 level on May 26, 2023. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 86 similar instances where the indicator turned positive. In of the 86 cases, the stock moved higher in the following days. The odds of a move higher are at .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Moving Average Convergence Divergence (MACD) for MORT just turned positive on May 17, 2023. Looking at past instances where MORT's MACD turned positive, the stock continued to rise in of 39 cases over the following month. The odds of a continued upward trend are .
MORT moved above its 50-day moving average on May 26, 2023 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for MORT crossed bullishly above the 50-day moving average on May 30, 2023. This indicates that the trend has shifted higher and could be considered a buy signal. In of 12 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where MORT advanced for three days, in of 323 cases, the price rose further within the following month. The odds of a continued upward trend are .
MORT may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 71 cases where MORT's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where MORT declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for MORT entered a downward trend on May 30, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
Category RealEstate
| 1 Day | |||
|---|---|---|---|
| MFs / NAME | Price $ | Chg $ | Chg % |
| EAEAX | 27.39 | N/A | N/A |
| Eaton Vance Tax-Managed Eq Aset Allc A | |||
| FEBIX | 12.41 | N/A | N/A |
| First Eagle Global Income Builder I | |||
| HLFNX | 19.01 | -0.03 | -0.16% |
| Hennessy Large Cap Financial Investor | |||
| ACMVX | 15.00 | -0.04 | -0.27% |
| American Century Mid Cap Value Inv | |||
| ECEMX | 12.92 | -0.04 | -0.31% |
| Parametric Emerging Markets C | |||
MORT and
Correlation & Price change
A.I.dvisor indicates that over the last year, MORT has been closely correlated with IYR. These tickers have moved in lockstep 78% of the time. This A.I.-generated data suggests there is a high statistical probability that if MORT jumps, then IYR could also see price increases.
| Ticker / NAME | Correlation To MORT | 1D Price Change % | ||
|---|---|---|---|---|
| MORT | 100% | +1.13% | ||
| IYR - MORT | 78% Closely correlated | +0.43% | ||
| VNQ - MORT | 78% Closely correlated | +0.38% | ||
| SCHH - MORT | 77% Closely correlated | +0.43% | ||
| REET - MORT | 76% Closely correlated | +0.27% | ||
| XLRE - MORT | 75% Closely correlated | +0.31% | ||
More | ||||
