May 3rd 2024 Mortgage Market Update

This Week's Mortgage Market Ride - Buckle Up!Hey Team,Strap in for the highlights of this week's mortgage market—it's been quite the roller coaster:- **From Peaks to Dips**: Wednesday hit us with near 8% highs on conventional loans, but we've since dipped to the mid-7s. Expect more thrills and chills as the season progresses.- **Fed Holds Steady**: The Fed's playing it cool with no rate cuts on the horizon this year, adding a bit of extra spice to our market ride.- **Job Report Jolts**: The latest jobs numbers were a bit of a shocker, with new jobs dropping from an anticipated 240,000 to just 175,000, throwing a curveball at interest rates. Unemployment nudged up from 3.8% to 3.9%, so keep your eyes on this trend.- **Stagnation Signals**: Things are looking a bit sluggish with economic indicators pointing towards stagnation—fewer work hours and slow GDP growth could mean we're flirting with recession territory.- **Pro Tip**: With all this market madness, locking in rates when signing contracts is your safest bet to dodge unexpected spikes driven by inflation and job market flips.Let's navigate these waves together and stay tuned for more updates!Your Mortgage Gal for Life,Julie Herrmann NMLS #1563583http://www.YourMortgageGalforLife.com360.900.7092Julie.Herrmann@Edgehomefinance.com

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.

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March Market Update

Navigating This Week's Mortgage Market Updates: A Friendly GuideHey everyone! Happy March! As we step into a new month, I thought it would be the perfect time to dive a bit deeper into the latest happenings in the economy and how they're influencing mortgage interest rates. I believe it's super important for you to understand these dynamics, as they directly impact your home financing options.Here's the Scoop on Mortgage Interest Rates:**Good News Alert!** This week, we saw a slight improvement in mortgage interest rates compared to last week.This is mainly due to the positive trends in mortgage-backed securities on the stock market. When more investors are buying these bonds, it signals a stronger appetite for mortgage interest rates in the secondary market, leading to better rates for you.**Why Investors Matter:** In simple terms, when the stock market faces a downturn, investors look for safer places to park their money, and mortgage-backed securities become a hot favorite. This shift means lower mortgage interest rates, as these securities are tied to the loans for your future home.**The PCE Report Roller Coaster:** This week's Personal Consumption Expenditures (PCE) report took us on a bit of a ride. While the report didn't reveal any shocking new data, it did contribute to a slight rally in the mortgage markets. We keep a close eye on the core data within this report because it influences the Federal Reserve's decisions, which in turn affect your wallet.**Fed Watch:** Speaking of the Federal Reserve, they've got a meeting coming up this March 19th-20th. They'll be discussing the economy and eyeing that core percentage rate, aiming to bring it down to their 2% goal. While we don't anticipate immediate rate cuts, this meeting could set the stage for future financial strategies. And remember, even though Fed rate cuts don't directly impact mortgage interest rates, they do influence the broader economic environment which, in turn, affects the mortgage market.**The Curious Case of the OER Report:** Ever wonder how much your home would rent for? That's what the Owner's Equivalent Rent (OER) report tries to figure out, contributing to one-sixth of the PCE data. Interestingly, homeowners' estimates often significantly differ from actual rental prices, which can make for some intriguing discrepancies in the data.Wrapping Up:Navigating the mortgage market can feel like decoding a secret language, but it's my mission to translate it into plain English for you. Whether you're buying your first home, refinancing, or just curious about the market, I'm here to shed light on these topics. Remember, understanding these trends helps you make informed decisions, and I'm always here to help guide you through this journey.Stay tuned for more updates, and feel free to reach out if you have any questions or need advice. Here's to making smart financial choices together!

Mortgage Market Update February 23, 2024

Happy Friday - welcome to this week's Market Mortgage Update for February 23, 2024- Mortgage interest rates have started to rebound slightly, influenced by the performance of mortgage bonds, with rates expected to show more accurately early next week. Conventional loans average around 7.10%, with FHA and VA loans slightly lower.- The job market shows contrasting views: the government reports a strong job market, while the CEO of ZipRecruiter highlights a decline in recruiting, noting that 80% of jobs created in 2023 were in government, healthcare, and hospitality/leisure, with the latter expected to decline due to inflation.- The "Buy Now, Pay Later" trend is surging, with a significant portion of transactions under $250, and 21% of these purchases are for groceries, indicating a financial strain on consumers for basic needs.- New construction and home builder sentiment remain positive, with a 5% increase in new construction expected this year despite seasonal fluctuations. Home sales are up month-over-month but have slowed year-over-year, indicating a still robust seller's market with only a three-month supply.- A new course on financial literacy, covering topics from the psychology of money to pathways to homeownership, is being launched, aiming to empower individuals with knowledge to navigate the financial aspects of home buying and ownership.Friday ended up being surprisingly strong for the bond market with the best rally of the week in the long end of the yield curve. European bonds were a key consideration early, but the quarterly rollover in Treasury futures probably added some emphasis to the gains. 10yr Treasuries fully erased the sharper losses seen Wednesday and Thursday. Unfortunately, those sharper losses happened to be threatening the technical ceiling at 4.32%, so Friday's rally is best described as merely keeping the broader sideways vibes intact.

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Mortgage Market Update Thursday February 15th, 2024

Hey there, friends and future homeowners and partners.Welcome back to our cozy corner of the internet where we talk all things mortgages, making sense of the market, and how it all affects you and your dream of owning a home. This week, we're diving into something super interesting and, let's be honest, a bit complex. But don't worry, I've got you covered.We're unpacking the latest on the mortgage market and how a trio of economic indicators - the Consumer Price Index, Japan's GDP reports, and a dip in consumer spending according to the latest retail reports - could be influencing mortgage interest rates.Now, you might be wondering, "What does Japan's economy have to do with my mortgage rate?" or "How does consumer spending affect my home-buying journey?" Great questions! And I promise, by the end of our chat today, you'll have the answers and a clearer picture of how these global and domestic economic pulses can impact your mortgage.So, grab your favorite beverage, get comfy, and let's break down these financial headlines together. Whether you're a first-time buyer, looking to refinance, or just a finance enthusiast, there's something in this update for everyone. Let's dive into this week's mortgage market update and make sense of the numbers behind your home dreams.Remember, understanding the market is the first step to making empowered decisions about your future home. Let's get started

Navigating the Economic Waves: Understanding CPI, Fed Rates, and Mortgage Interest Fluctuations

The Complete Playbook on how Mortgage Interest Rates Really Work

We are pulling back the curtain on how interest rates REALLY work! We're talking about the 30 things that can affect your unique mortgage interest rate, how to fix some of those and getting into the nitty gritty of why your rate won't be the same as your cousins! You will leave this class feeling like you opened the biggest present this year - and finally become empowered to know how strategic the right mortgage (and lender) are to your houses financial health!

How To Become An Air bNb Host

Do you ever look at beachfront real estate and wonder how you can own a piece of paradise while also turning a profit when you're not there? "Air bnb" What separates a good host from a great one is outlined here.

Saving For a Home

Ready to design a budget that will sustain your needs & help you with your goals for home ownership? We have you covered. Download this helpful guide.

Things To Consider When Buying a Home – Summer 2022

Are you thinking of buying a home this summer? If so, you have a great opportunity in front of you. Inside out guide are just a few reasons why this season may be the right time to make your purchase. One of my most important reasons to owning a home for me was the emotional aspect. The link between financial security and homeownership is undeniable. But your home also provides a sense of gratitude, pride, and comfort. Here are some of the best emotional and financial benefits that come with owning a home. The Emotional Benefits of Owning a Home Are Powerful In their list of top reasons to buy a home, the National Association of Realtors (NAR) highlights some of the powerful, non-financial aspects of homeownership. Among them is the opportunity to customize your home to reflect your personality and needs: “The home is yours. You can decorate any way you want and choose the types of upgrades and new amenities that appeal to your lifestyle.”  Another benefit homeowners enjoy is the stability it provides. Homeowners typically stay put longer than renters. According to NAR, when you remain in one place for more than a few years, you can grow closer to your community, which can enhance your sense of pride and lead to better relationships. Ready to learn more? Download this helpful guide to start your journey.