--- title: Friday Fast Five - 12/22/2023 description: We aim to help investors separate the news from the noise by providing our perspective. Every Friday the Hodges Capital research analysts list the five most interesting things they discovered that week. Subscribe to receive the Hodges Friday Fast Five in your inbox every Friday. image: https://blog.hodgescapital.com/hubfs/Hodges-FridayFastFive.jpg --- [![Hodges-Logo-1](https://blog.hodgescapital.com/hs-fs/hubfs/Hodges-Logo-1.png?width=215&height=98&name=Hodges-Logo-1.png "Hodges-Logo-1")](https://www.hodgescapital.com/) [![Connect With Us](https://hubspot-no-cache-na2-prod.s3.amazonaws.com/cta/default/9402040/5025aacb-6e9a-4ab0-8651-1dfa57e962c6.png)](https://hubspot-cta-redirect-na2-prod.s3.amazonaws.com/cta/redirect/9402040/5025aacb-6e9a-4ab0-8651-1dfa57e962c6) ** ** [![](https://blog.hodgescapital.com/hs-fs/hubfs/Hodges-Logo-1.png?width=521&height=237&name=Hodges-Logo-1.png)](https://blog.hodgescapital.com/) [![Connect With Us](https://hubspot-no-cache-na2-prod.s3.amazonaws.com/cta/default/9402040/5025aacb-6e9a-4ab0-8651-1dfa57e962c6.png)](https://hubspot-cta-redirect-na2-prod.s3.amazonaws.com/cta/redirect/9402040/5025aacb-6e9a-4ab0-8651-1dfa57e962c6) ** ** **Menu** ** ** ![Outside 1-1-2](https://blog.hodgescapital.com/hs-fs/hubfs/Outside%201-1-2.jpeg?width=4106&name=Outside%201-1-2.jpeg "Outside 1-1-2") # Hodges Friday Fast Five *"In the investment business, you go to school every day, but never graduate." - Don Hodges*   # Friday Fast Five - 12/22/2023 by [Hodges Investment Team](https://blog.hodgescapital.com/capital-fast-five/author/hodges-investment-team), on December 22, 2023 Five interesting things that Hodges Capital research analysts discovered this week... #1 MORTGAGE DEMAND: According to the Mortgage Bankers Association, mortgage demand remained tepid last week despite lower interest rates. As of December 20, the average interest rate for a 30-year fixed-rate conforming mortgage was 7.07% compared to 7.90% at the October peak. #2 PET ADOPTIONS: Pet adoptions have fallen significantly over the last two years from a peak experience during the pandemic, according to Shelter Animal Counts. Moreover, adoptions are estimated to be down by roughly 16% year-over-year, which has weighed on pet supply-related businesses.         #3 EARNINGS: Although corporate earnings decelerated for much of 2023, the consensus earnings estimate for the S&P 500 reflects 10.2% growth in 2024, according to data compiled by UBS Investment Research. #4 MARKET MOMENTUM: The S&P 500 completed a seventh week of consecutive gains last week. Strategas Research points out that the market has only declined 5 out of the 29 times in the 12 months after such streaks have occurred. One year after all observations of seven consecutive weekly gains or more, the average gain has been +8% one year later.     #5 RENT INFLATION: As the Wall Street Journal reported, UBS economist Alan Detmeisterexpects the shelter component of CPI inflation to fall as much as 3.75% by the end of 2024. He also points out that in some cities that have seen excessive rent rises, like Seattle, prices are already starting to fall.      *HCM is an Investment Advisory Firm registered with the Securities and Exchange Commission (“SEC”), is a wholly owned subsidiary of Hodges Capital Holdings and serves as investment advisor to the Hodges Funds. HCM is affiliated with First Dallas Securities, Inc, a broker-dealer, and investment advisor registered with the SEC.* *This discussion is not intended to be a forecast of future events and should not be considered a recommendation to buy or sell any security. Past performance is not indicative of future results. Investing involves risk. Principal loss is possible. Investing in smaller companies involves additional risks such as limited liquidity and greater volatility. No current or prospective client should assume that information referenced in this communication is a recommendation to buy or sell any security or is a substitute for personalized investment advice from your individual advisor. HCM does not provide tax or legal advice. Consult your tax or legal advisor for any related questions.* *All information referenced herein is from sources believed to be reliable and is provided as general market commentary and does not constitute investment advice. This material was created for informational purposes only and the opinions expressed are solely those of HCM. HCM shall not in any way be liable for claims and makes no expressed or implied representations or warranties as to the accuracy or completeness of the data and other information. The data and information are provided as of the date referenced and are subject to change without notice.* ### Hodges Friday Fast Five We aim to help investors separate the news from the noise by providing our perspective. Every Friday the Hodges Capital research analysts list the five most interesting things they discovered that week. 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