Chief Economist Eugenio J. Alemán discusses current economic conditions.
The U.S. economy is weak, as GDP numbers in both the second quarter and the third quarter have shown. The fundamental reason why the U.S. economy grew 2.6% during the third quarter of the year was because Net Exports, which is exports of goods and services...
With mortgage rates more than doubling from ~3% to over 7% today the difference in cost between buying a home twelve months ago compared to today is very big.
We believe that the Fed is going to increase the federal funds rate by 75 bps.