Wednesday night was pretty interesting around the house, although for us it was fairly normal.
Madison had just gone to bed, and Brendan was over at a friend’s house. The timing was perfect when he called his sister and asked her to come pick him up. She rarely tells him no, so off she went. I did think it was a little odd that she left the house wearing her pajamas, but with everyone home, I have learned to expect the unexpected.
Then the fun really started when they got back.
His bed was unmade, and naturally he did not feel like making it. So, he started needling his sister to help, and within minutes the energy level in the house went from about a two to a ten.
Nothing to see here. Just another evening at the ranch.
A Quick Reminder
A quick reminder about our annual Pack the 'Pack campaign, which officially kicks off on July 1.
This is our annual effort to help food-insecure children throughout the communities we serve. Last year, we helped provide meals to more than 11,000 local children, something we are incredibly proud of.
We also raised more than $104,000, so this year’s goal is $105,000.
Look for more details this week.
Market Notes
It was a pretty good week for mortgage rates, with most programs ending roughly 0.125 percent lower than last week and reaching their lowest levels since mid-May.
Several factors helped along the way, which is encouraging considering the market has been driven primarily by geopolitical headlines since early March.
For the most part, news surrounding the conflict has been constructive, or at least not negative. Oil prices have eased a bit, this week’s inflation data came in about as expected, not great, but not concerning either, and quarter-end trading likely provided some additional support.
Generally speaking, when multiple factors are influencing the market, volatility tends to be lower than when a single headline is driving everything.
We will see how this week unfolds. It is too early to say rates have peaked, but Thursday should be an important day. Since the bond market is closed Friday for the holiday, the monthly jobs report will be released Thursday morning and will likely set the tone heading into the following week.
Last month’s employment numbers came in much stronger than expected, and prior months were revised higher. It is difficult to know exactly what this report will bring, but I will say this… I am just hoping for no surprises.
Looking Ahead*
Enjoy a great week, and as always, please feel free to reach out with any mortgage related questions or needs.
We have a strong pipeline heading into July and are looking to break a record, so any introductions are always appreciated.
-Steve-
*All loans are subject to credit approval and program guidelines.