I am sure my parents were not big fans of what I listened to growing up, but there is no question music today is different from what I grew up with and still enjoy.
I am about to date myself, but here are, in my opinion, the five greatest albums ever recorded. No particular order, because I think they are all interchangeable.
Honorable mention goes to The Ocean Blue and their self-titled debut album.
- Tears for Fears – The Hurting
- U2 – The Joshua Tree
- The Call – Reconciled
- Linkin Park – Hybrid Theory
- Puddle of Mudd – Come Clean
A Quick Team Update
Before getting into the market, I wanted to mention how excited we are to be adding a new team member this week.
Gail Moxley joins us Tuesday and will be serving Berkeley County and the Eastern Panhandle. Gail is a 25-year veteran of the mortgage and banking industry. She is active in the community and shares the same client-centric approach our clients and referral partners have come to expect.
We are very fortunate to have her on board. Look for her around town sporting her Potomac Bank gear soon.
Market Notes
Last week’s market was eventful, to say the least.
On Monday, mortgage rates reached their highest levels in quite some time as tensions in the Middle East escalated and fuel prices spiked. To make matters worse, Fed Governor Christopher Waller indicated that the Fed may need to raise short-term rates if inflation data came in hotter than expected.
Thankfully, both inflation reports this week came in better than anticipated.
The Consumer Price Index (CPI) came in below forecast, marking one of the most favorable reports we’ve seen in more than a year. That was followed by the Producer Price Index (PPI), which also showed a larger-than-expected decline.
The result was mortgage rates moving back down and ending the week roughly where they started.
Looking ahead, there is not much economic data on the calendar this week. With few major reports to influence the market, geopolitical headlines and oil prices will likely continue to be the primary drivers of mortgage rates.
Looking Ahead*
Enjoy a great week, and please feel free to reach out if you have any mortgage related questions or needs.
-Steve-
*All loans are subject to credit approval and program guidelines.