He announced last Thursday that he was coming home for the weekend. I knew exactly what that meant. As soon as he walked through the door, he would want to go fishing, so I mentally prepared myself. Fridays are usually my day to do… well… nothing.
Sure enough, he walked in and said, “Let’s go to the river.”
We are about a five-minute hike from the Potomac. I didn’t even have both feet in the water, we wade into the deeper holes to fish, and he was already hooked up with a three-pound smallmouth.
Not exactly the start I was hoping for.
It only got worse. I lost three good fish and didn’t land a single one.
Bitter.
On the walk home, I told him I hope I am still around when his kids start outfishing him.
I am not sure how we became so competitive over fishing, but it has become a disease.
A Quick Reminder
A quick reminder that we have one month left in our Pack the ’Pack campaign.
Each year, we raise money to help children facing food insecurity throughout the communities we serve. These funds help provide meals during the summer months and on weekends throughout the school year.
It is a great cause, and we are proud to have raised more than $509,000 since the campaign began.
Every little bit helps, and we truly appreciate your support. MAKE A DONATION
Market Notes
It was another choppy week for the market, with most mortgage programs remaining at or near one-year highs.
Early in the week, easing geopolitical tensions helped rates improve slightly. As mentioned last week, however, the Fed meeting was always going to take center stage.
The market had priced in roughly a one-in-three chance of a rate hike, so when no hike materialized, the initial reaction was positive.
That said, the market is still trying to understand how the new Fed Chair views monetary policy. He has kept his thoughts fairly close to the vest, and when the market is left guessing about what comes next, participants tend to sell. Selling pressure generally pushes mortgage rates higher.
We will see how this plays out over the coming weeks and months.
Looking ahead, this week will likely bring more of the same. Mortgage rates will continue to take their cues from oil prices leading into Friday’s employment report. That report typically helps set the tone for the month, so we will have more to discuss next week.
Looking Ahead*
Enjoy a great week, and as always, please feel free to reach out with any mortgage related questions or needs.
-Steve-
*All loans are subject to credit approval and program guidelines.