Recent Articles
Aug
06
2024
06
2024
Weekly Mortgage Rate Update- 08-06-24
Mortgage rates made a big move lower on the perfect trifecta of the Fed, economic news, and global developments all falling into place. After the FOMC meeting ended Wednesday, the consensus was that Powell left the door open for a September cut as their attention turned to a...
Mortgage rates made a big move lower on the perfect trifecta of the Fed, economic news, and global developments all falling into place. After the FOMC meeting ended Wednesday, the consensus was that Powell left the door open for a September cut as their attention turned to a...
Jul
30
2024
30
2024
Weekly Mortgage Rate Update- 07-30-2024
The much-anticipated PCE inflation reading came and went without much of an impact. It was a tame reading but slightly hotter than the May reading. Headline PCE came in at 0.1% increase for June, May was 0% increase. The Core PCE report is the Fed’s main measure and...
The much-anticipated PCE inflation reading came and went without much of an impact. It was a tame reading but slightly hotter than the May reading. Headline PCE came in at 0.1% increase for June, May was 0% increase. The Core PCE report is the Fed’s main measure and...
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...