It is all fun and games when I post pictures of Wilson lying on the couch behind me with notes about how he is helping #TeamCowen provide the optimal client experience. But before I tell this story, you should know one thing. I have never seen an animal with a food drive like this. If you let him, I am convinced he would never stop eating. We even bought him a special bowl designed to slow him down.
So, dinner Thursday night was chicken kabobs. I had four beautiful kabobs sitting on the kitchen island. I literally turned my back for one second. I heard him getting into trouble, and trust me, you know when Wilson is into something, and boom… one kabob was gone.
No chewing. No dragging it around the corner. Gone.
One whole kabob. Four pieces of chicken, peppers, onions, and the wooden skewer holding it all together.
Not to get too graphic, but about 45 minutes later, we got the kabob back… pretty much exactly the way it went down.
Pretty impressive that he swallowed the whole thing, but what a dope. Glad he did not have to digest all of that.
A Quick Reminder
A quick reminder that our annual Pack the ’Pack campaign is officially underway.
Each year, we raise money to help food-insecure children throughout the communities we serve. Our goal this year is $105,000, so if you are interested in helping, you can donate online using the link below.
Pack the ’Pack
Please feel free to share it with your friends and family as well. We truly appreciate the support.
Market Notes
The market certainly could have been worse last week.
For most programs, mortgage rates ended the week about the same or just a touch higher, so overall, not too much damage.
The relationship between oil prices and mortgage rates came back into focus. That correlation had eased after the ceasefire was announced and oil prices declined, while mortgage rates largely held steady as the market waited for more clues about inflation.
As tensions increased and the ceasefire appeared to unravel, bond yields once again hitched their wagon to oil prices, and day-to-day volatility returned.
Looking ahead, we will see what has the biggest influence on the market in the near term.
This Tuesday, we receive June’s Consumer Price Index (CPI), our latest look at consumer inflation. The expectation is for prices to increase 0.3%.
A reading above that would likely push mortgage rates higher, as the market could begin pricing in the possibility of a short-term rate hike. A reading at or below 0.3% would likely help stabilize rates in the near term.
We will see.
In the meantime, if you have clients ratifying contracts this weekend, I would strongly recommend locking their terms ahead of Tuesday’s report.
Looking Ahead*
Enjoy a great week, and as always, please feel free to call with any mortgage related questions or needs. Always happy to help.
-Steve-
*All loans are subject to credit approval and program guidelines.