Recent Articles
Jul
23
2024
23
2024
Weekly Mortgage Rate Update 07-23-24
This week is starting out very quiet for mortgage rates which continue to move sideways ahead of the PCE inflation reading this Friday. For clients holding out for that .25% Fed cut in September, we are reminded that mortgage rates front run any actual policy moves. When the odds are at over...
This week is starting out very quiet for mortgage rates which continue to move sideways ahead of the PCE inflation reading this Friday. For clients holding out for that .25% Fed cut in September, we are reminded that mortgage rates front run any actual policy moves. When the odds are at over...
Jul
16
2024
16
2024
Weekly Mortgage Rate Update- 07-16-2024
June CPI showed inflation contracted for the first time since 2020 due to decreasing shelter expenses and less consumer discretionary spending, it came at -0.1% for the month. This caused the annual CPI rate to drop to 3.0%. Core CPI (excludes food and energy) rose 0.1% for the month and...
June CPI showed inflation contracted for the first time since 2020 due to decreasing shelter expenses and less consumer discretionary spending, it came at -0.1% for the month. This caused the annual CPI rate to drop to 3.0%. Core CPI (excludes food and energy) rose 0.1% for the month and...
Jul
09
2024
09
2024
Weekly Mortgage Rate Update-07-09-2024
The case to be made for lower rates is increasing as almost all the recent data points to a slowing economy, but so far it hasn’t materialized. Last week ISM Services showed a significant contraction. We are a service-based economy so this represents the majority of our economic...
The case to be made for lower rates is increasing as almost all the recent data points to a slowing economy, but so far it hasn’t materialized. Last week ISM Services showed a significant contraction. We are a service-based economy so this represents the majority of our economic...
Jun
18
2024
18
2024
Weekly Mortgage Rate Update-06-18-2024
According to CPI released last week inflation was mostly flat in May. The headline number didn’t increase at all coming in at 0.0% vs 0.1% expected and core CPI increased 0.2% while expected at 0.3%. Core year over year is 3.4%. It’s what we wanted to see. Rates...
According to CPI released last week inflation was mostly flat in May. The headline number didn’t increase at all coming in at 0.0% vs 0.1% expected and core CPI increased 0.2% while expected at 0.3%. Core year over year is 3.4%. It’s what we wanted to see. Rates...
Jun
11
2024
11
2024
Weekly Mortgage Rate Update- 06-11-24
272,000 jobs were added to the economy for May according to the nonfarm payrolls report. That’s almost 100k more jobs than anticipated. Important for the inflation outlook, the average hourly wages also rose higher than expected. However, the unemployment...
272,000 jobs were added to the economy for May according to the nonfarm payrolls report. That’s almost 100k more jobs than anticipated. Important for the inflation outlook, the average hourly wages also rose higher than expected. However, the unemployment...