real estate, homeownership, homebuying-6688945.jpg

Today in the Market (5/4/2022)

Good Evening. Investors weighed the Federal Reserve’s latest monetary policy decision against the backdrop of rising inflation and a still-tight job market as equities in the United States soared Wednesday afternoon.

The S&P 500 (2.99%), Dow (2.81%), and Nasdaq (3.19%) all finished in the green after Fed Chair Jerome Powell said future 75-basis-point interest rate hikes were not on the table at the moment. 


Uber (UBER) reported first-quarter results and current-quarter guidance that beat expectations, indicating that the ride-hailing business was working through driver shortages while maintaining excellent profitability.

The most important figures from the report, as contrasted to what Wall Street expected, are listed below.

  • Revenue: $6.9 billion versus $6.1 billion expected

  • Adjusted EBITDA: $168 million versus $135 million expected

  • EPS: $-0.24 vs. $-0.35

Trips grew by 18% year-over-year to 17.1 billion in the first quarter, demonstrating the continued improvement in rider demand. Uber shares had fallen earlier in the overnight session in line with Lyft’s price, which had fallen after the ride-hailing business issued a current-quarter sales and profit prediction that fell short of analyst expectations.

After Lyft’s report, Uber “rescheduled to provide a more timely update on the company’s performance and guidance before the market opens,” according to a statement. Uber was previously scheduled to report its quarterly results after market close on Wednesday

After closing, UBER ended 4.65% lower at $28.10 per share.


real estate, homeownership, homebuying-6688945.jpg

When the Federal Reserve announced its interest rate hike today, one of the key goals was to cool house prices, which have risen by more than 30% in the last two years. The Fed intends to achieve this by raising the economy’s benchmark interest rate, which will push mortgage rates higher as well.

Greater mortgage rates mean higher borrowing costs when it comes to purchasing a home. After starting the year at just over 3%, mortgage rates are currently growing at the quickest rate since the spring of 1994, reaching 5% in April.

  • For a buyer of a typical existing home in the United States, this translates to an extra $440 in monthly payments.

Of course, the work isn’t that simple. Higher mortgage rates used to be closely linked to lower property values, but that link has diminished over the last two decades. The significant dearth of suitable homes to buy is now contributing even more to rising housing prices. To put it another way, the Fed may be able to stifle homebuying demand by raising interest rates, but the housing market will only stabilize until supply catches up. As a result, many experts predict home values will continue to rise for the rest of the year, maybe by double digits.

Scroll to Top

Contact Us

Best time(s) to contact you?
Best method(s) to contact you?

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.

  • About You

    Tell us a little about yourself. Don't be shy. Let's be friends.
  • How Can We Reach You?

    We would love to chat with you. How can we get in touch with you?
  • What's on your mind?