And when he is exhausted, you never really know what version of Brendan you are going to get.
Based on more than 10 years of traveling with him, I have learned the proper approach. Stay out of the way. Do not engage. He will sleep it off.
Cindy, on the other hand, believes that is the perfect time to dig in.
“How are things going?”
“How are you feeling?”
I have warned her.
Needless to say, she did not sleep particularly well Wednesday night.
The best part? Brendan was upset that his sister was not home and there was no family time when he got back. Then Thursday night, we planned a family dinner and Brendan decided to go fishing instead.
Funny how that works.
A Quick Reminder
A quick reminder, particularly for our network of agents who primarily work with listings.
Sellers relocating out of the area can be great introductions for us. We can and do lend in all 50 states. We currently have transactions closing in Washington, Texas, and Colorado.
One common misconception about community banks is that they do not offer a robust product lineup or competitive lending platform. That is simply not the case here.
Over the past eight-plus years, we have worked tirelessly to build a platform and product offering that rivals many of our largest competitors while continuing to deliver an exceptional client experience.
Oh, and did I mention the technology is pretty good too?
Market Notes
As expected, last week was a bit of a rocky ride. However, by the end of the week, mortgage rates for most programs were either unchanged or a smidge lower.
So how did we get there?
Early in the week, rates improved as continued signs pointed toward a possible resolution to the conflict in the Middle East.
Then Wednesday arrived, and the FOMC meeting concluded. By the end of the day, rates had moved higher.
Why?
A couple of reasons.
The market focused heavily on the committee’s latest projections for short-term interest rates. When rates reached their lowest levels back in February, the market expected two rate cuts by year-end. The latest projections now show many voting members anticipating two rate hikes by the end of the year.
That is a meaningful shift.
Secondly, the market listened closely to comments from the new Fed Chair during his press conference and Q&A session. He did not reveal much one way or the other, which is not surprising. He has previously been critical of the Fed being too transparent and potentially boxing itself into policy decisions.
At this point, it is simply too early to know exactly where things are headed.
From my perspective, the key remains inflation. If inflation data improves in the coming months, long-term rates should improve as well.
Simple enough. Although, as we all know, it is rarely that simple.
Looking Ahead*
Hope you enjoyed a wonderful Father’s Day weekend. I relaxed and watched a fair amount of golf on my television.
As always, please feel free to call if you have any mortgage related questions or needs.
-Steve-
*All loans are subject to credit approval and program guidelines.