Weekly Market Observations - August 1, 2023

Here’s Our Weekly Market Observations :

The Fed hikes rates 0.25% to a 22 year high

US Q2 GDP grew at 2.4%

Pending home sales in June up 0.3% from May but down 15.6% YOY

CBRE survey shows many believe cap rates are peaking

Average 30-year fixed mortgage rates up slightly to 6.81%