Morning Report: Job openings decline

Vital Statistics: Stocks are lower as we begin the FOMC meeting. Bonds and MBS are down. Construction spending rose 0.3% MOM in February, according to Census. This was up 3.8% compared to a year ago. Residential construction spending was down 0.2% MOM and 10% on a YOY basis. It is interesting how much single family and multi-family construction spending has diverged. Lending Tree is down some 22% this morning after reporting a disappointing quarter. Mortgage revenues were down big, but home equity was a bright spot. Given the home affordability problems as well as the lock-in effect (i.e. hate the house, love the mortgage) we are probably going to see more emphasis on reno products, and HELOCs are another good way to do some business while we wait for rates to fall. Your business runs on financing plus so much more. That’s why Western Alliance Bank’s Specialized Mortgage Services team is standing ready to tailor a suite of banking solutions to your needs, from a strong, stable institution that truly values your business. Our experienced, responsive relationship bankers and treasury management professionals help keep your accounts running smoothly. You’ll find trusted options for treasury management as well as flexible options for warehouse lending, MSR financing, note financing and other mortgage finance products, with speed to approval and certainty of execution. Our products also enable you to conveniently manage custodial and payroll accounts and originate streamlined online wire transfers while taking advantage of competitive rates for business banking. Our client Ali Vafai, President of The Money Source Inc., says, “Western Alliance is known in the industry as a bank that acts like a partner. It’s one of the main reasons we selected them to do business. And we can say unequivocally that they truly are a great partner. They are transparent, collaborative and always working toward mutually beneficial growth and benefit. It’s reassuring knowing that you have a bank that cares as much about your interests as theirs.” We’d love to discuss how the powerful combination of Western Alliance treasury management solutions along with traditional warehouse lending, MSR financing, note financing and other mortgage finance products can benefit you. Please contact Jennifer Schachterle (720) 261-5774, Mark Short (469) 702-6212, Chris Martin (480) 341-5483 or Nick Richards (646) 708-1211. Western Alliance Bank, Member FDIC. The number of job openings decreased to 9.6 million, according to the latest JOLTS jobs report. This was down 384,000 from February and 1.6 million from December 31. The quits rate, which tends to predict wage inflation, fell to 2.5%. The quits rate was 2.9% a year ago. The job openings rates were highest in leisure / hospitality, especially arts and entertainment. I guess the world needs more poets. [Image] Here are Some More Investing Tips and Resources. Enjoy! Sponsored [Top Picks For The Digital Currency Revival Of 2023]( The press declares the Digital Currency Slump is behind us, and the resurgence is underway. Now, the burning question: Which tokens are poised to soar in this emerging bull market? Gain insights from a panel of 27 global digital currency gurus at the upcoming. Virtual Currency Symposium. Discover which tokens hold the potential for skyrocketing in 2023. Experience the Virtual Currency Symposium from the comfort of your home. [Click here to sign up at no cost.]( [Privacy Policy/Disclosures]( [Morning Report: Job openings decline](?site= Vital Statistics: Stocks are lower as we begin the FOMC meeting. Bonds and MBS are down. Construction spending rose 0.3% MOM in February, according to Census. This was up 3.8% compared to a year ago. Residential construction spending was down 0.2% MOM and 10% on a YOY basis. It is interesting how much single family and multi-family construction spending has diverged. Lending Tree is down some 22% this morning after reporting a disappointing quarter. Mortgage revenues were down big, but home equity was a bright spot. Given the home affordability problems as well as the lock-in effect (i.e. hate the house, love the mortgage) we are probably going to see more emphasis on reno products, and HELOCs are another good way to do some business while we wait for rates to fall. Your business runs on financing plus so much more. That’s why Western Alliance Bank’s Specialized Mortgage Services team is standing ready to tailor a suite of banking solutions to your needs, from a strong, stable institution that truly values your business. Our experienced, responsive relationship bankers and treasury management professionals help keep your accounts running smoothly. You’ll find trusted options for treasury management as well as flexible options for warehouse lending, MSR financing, note financing and other mortgage finance products, with speed to approval and certainty of execution. Our products also enable you to conveniently manage custodial and payroll accounts and originate streamlined online wire transfers while taking advantage of competitive rates for business banking. Our client Ali Vafai, President of The Money Source Inc., says, “Western Alliance is known in the industry as a bank that acts like a partner. It’s one of the main reasons we selected them to do business. And we can say unequivocally that they truly are a great partner. They are transparent, collaborative and always working toward mutually beneficial growth and benefit. It’s reassuring knowing that you have a bank that cares as much about your interests as theirs.” We’d love to discuss how the powerful combination of Western Alliance treasury management solutions along with traditional warehouse lending, MSR financing, note financing and other mortgage finance products can benefit you. Please contact Jennifer Schachterle (720) 261-5774, Mark Short (469) 702-6212, Chris Martin (480) 341-5483 or Nick Richards (646) 708-1211. Western Alliance Bank, Member FDIC. The number of job openings decreased to 9.6 million, according to the latest JOLTS jobs report. This was down 384,000 from February and 1.6 million from December 31. The quits rate, which tends to predict wage inflation, fell to 2.5%. The quits rate was 2.9% a year ago. The job openings rates were highest in leisure / hospitality, especially arts and entertainment. I guess the world needs more poets. 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