April 24, 2024 Mortgage Market Update

This Weeks Market Update:

Wrap Up:

UMBS 6.0: 99.10 (-34bps)

10-year Treasury yield: 4.70%

Today's higher rates were triggered by the latest quarterly PCE inflation data, which was a part of the GDP report and came in higher than expected. The question now is whether tomorrow's monthly PCE data will further impact rates. While another significant reaction isn't expected, it's still a possibility. Unfortunately, rates aren't likely to decrease anytime soon. Next week's labor data or the upcoming Fed meeting probably won't provide much relief either.

On a positive note, the housing market continues to show resilience. Foreclosures over 90 days are down, and foreclosure loan information has remained stable, indicating that despite inflation affecting our daily expenses, the housing market remains robust.

Reviews

"Julie was absolutely amazing throughout the entire home-buying process! As a first-time buyer, I had a ton of questions, and she patiently walked me through everything, making sure I never felt like any question was too small. Her video walkthroughs were a game changer—giving me a clear reference to go back to instead of scrambling with notes. I truly felt like she personalized everything to fit my goals, and her availability and guidance made the process smooth and stress-free. Highly recommend Julie for anyone looking for a knowledgeable and supportive lender!"

mallory s

"Everything was so easy and frictionless throughout the whole process, the communicaiton was efficient and everything was easy to follow."

michael b

"Julie was super friendly and very thorough in explaining the process to me (a first time home buyer). On top of that she got us a great rate. I wiuld recommend her to family and friends!"

kayla s

"Julie is beyond amazing! Every step of the way she was there to help me navigate, vent about stress, explain next steps, and understand terminology the average layperson wouldn't know. I don't know how we could have done this without her and would recommend her to anyone looking to purchase or refinance a home ❤️"

sarena v

"You are so personable and educating for all my clients. Thank you for being the best!"

michelle f

"Julie is such an easy personality to work with. She doesn't hesitate to answer any question and explains in a way that makes it very easy to understand the process. This is our first home buying process and I don't think anyone else could have done better."

hank q

"Julie is the absolute best to work with. Always willing to answer questions asap. She is so informative. We appreciate her more than she can know!!!!"

quinton a

"Amazing experience. Julie made it very easy for use."

cody h

"She was very helpful and always available if we had any questions"

brandon j