Fed paves the way for rate cut in September

I tell you what, it’s a lot more fun writing these updates when there is a lot of good news to share! The Fed met this week and didn’t cut rates as was expected but paved the groundwork for a cut in September. While Fed Chair Jerome Powell was non-committal on the timing of the […]

7/11-Rate cuts look all but guaranteed in September

The much anticipated inflation report for June came out today and I’ll only briefly bore you with details before getting to the good parts I promise. The Headline Consumer Price Index (that’s gobbledygook meaning inflation report) fell 0.1% from May to June, marking the first monthly decline since the start of the pandemic. You might […]

A look at new home construction

Despite the hotter temperatures this week there is one thing that is cooling off this summer and that is new home construction unfortunately. Housing Starts dropped 6% month-over-month in May to 1,277,000 units which was both below expectations and the lowest figure seen in 4 years. Building Permits for future construction also declined month over […]

Job report for May comes in higher than expected

May’s job growth came in well above forecasts, as the BLS reported that 272K new jobs were created. However, revisions to the data for March and April shaved 15K jobs from those months combined. In addition, the unemployment rate rose from 3.9% to 4%, which is the highest since January 2022. This report caused rates […]

Home appreciation year over year

I wanted to take a break from the typical mortgage rate breakdown to show you a chart that really stuck out to me today. The chart shows U.S. house prices rose 6.6 percent between the first quarter of 2023 and the first quarter of 2024, according to the Federal Housing Finance Agency (FHFA) House Price […]