brian
the home loan guy
and realty!

Thoughts from Brian:

Mortgage Rates will remain around current levels until Friday, when the BLS (Bureau of Labor & Statics) report comes out. If this report comes in like last months report, showing fewer-than-expected job gains, we could see mortgages rates move lower. If this report comes in with higher-than-expected job gains, mortgage rates could move higher. Traders have already priced in a .25% rate cut, so unless we get a really bad BLS report, mortgage rates will stay around current levels until the FED meeting on the 18th of the month. Make sure to check out our mortgage rates below! These are market rates with NO POINTS!

Thoughts from Brian:

There are several reports coming out this week that have the potential to move mortgage rates up or down. This week we get the PPI (Producer Price Index) and CPI (Consumer Price Index) reports. These reports provide insight as to the direction of inflation on the wholesale and consumer level. We also get retail sales data this week which tells us if consumer spending is increasing or decreasing.

Thoughts from Brian… This week will be action packed with various job reports and the FED meeting on Wednesday. Anticipation of a September rate cut continues to build. The markets are looking for the FED to signal that a September rate cut is likely. We could see mortgage rates improve as much as .25% if we see a weak consumer confidence report and a rise in jobless claims.

Thoughts from Brian… Mortgage Rates are expected to remain around current levels until the next FED meeting on July the 31st. The markets will be paying close attention to comments made by the FED for any signs that the FED is in fact going to cut rates at the September 18th FED meeting. President Joe Bidens withdrawal of the 2024 Presidential Election has not impacted mortgage rates.