Description

In this episode of Mortgage, Markets, and More, I break down the latest trends in the mortgage and bond markets—and it’s all about stability right now. 📉 Treasury yields dipped slightly, but mortgage rates are still holding steady at the same elevated levels we’ve seen since mid-July. So, what’s keeping things from moving? I dive into the latest data, including jobless claims 📃 and CPI inflation 🛒, to explain how these numbers might shape the Fed’s next steps. Heads up: big rate cuts aren’t likely just yet.

🔍 Here’s what I cover:

• Mortgage Rates Update: The 30-year fixed is at 6.63%—down just a bit from last week.
• Inflation Watch: Core CPI came in at 3.3%, showing inflation is still a bit sticky. 🥵
• PPI Flat Growth: A bright spot—producer prices didn’t increase, hinting inflation might cool further soon.

💡 Did You Know? If you haven’t been on a property title in the past three years, you could qualify as a first-time homebuyer and access special benefits! 🏡 Some programs offer lower interest rates or even grant money, though income limits and refinancing restrictions can apply.

📌 Here’s the takeaway:

• Market Stability: Expect rates to hover between 6-6.5% through the end of the year.
• Affordability Challenges: Monthly payments on a $400K loan have jumped $838 since 2021—yikes!
• Next Week’s Highlight: I’ll be on the lookout for the National Association of Realtors’ existing home sales report, so stay tuned for a potential double episode next week!

If you’re out house-hunting this weekend, I hope the weather cooperates ☀️—perfect for checking out some open houses. And if you’ve got any questions or need help with something, feel free to reach out! My contact info is in the episode description.

#MortgageRates #HomebuyerTips #RealEstateMarket #EconomicUpdate #Inflation

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Peter D'Angelo | NMLS: 885309 | Branch Manager | Guaranteed Rate, Inc., NMLS 2611
Peter.DAngelo@Rate.com

*All information, topics, discussion is my own personal opinion and insight, not reflective of Guaranteed Rate, Inc. May contain market information for informational purposes only, not to be used as financial advice.