🎙 Happy Monday and greetings to all you eager economic explorers out there! It's Peter D'Angelo, your captain through the complex waters of finance on "Mortgage, Markets, and More." Kicking off the week, we're steering straight into a whirlpool of developments with an Employment Miss and Easing Rates sure to spark lively debates at the watercooler and beyond.✨🗨️
Last week ended with a blast of revelations, not least the Fed's cool-as-a-cucumber stance on interest rates and the labor statistics that behaved more like a tired marathon runner than the sprightly sprinter we hoped for. Let's dissect this mix that's both perplexing and enlightening like a well-layered financial tiramisu. 🏃♂️💤🍰
First on the docket, the treasury market's offered us a glimpse of optimism with the 10-year yield taking a humble bow to 4.51%. With both the five and two-year yields joining the courtesy dip, it seems the job report's less-than-stellar performance has sparked a bit of sympathy in the rates department, providing a gentle pat on the back to mortgage-hopefuls. 🎖️📉
Here's the week in mortgage rates, served hot and ready for dissection:
- A 30-year fixed rate that's seen better days at 7.28%
- The FHA's bold stride to 6.7%
- Jumbo's drop to 7.48%
- An admirable 15-year fixed at 6.7%
- And the ARM that's relaxing its flex to 7.35% 💪↔️📊
Now, the labor report - it's like the underdog in a sports movie, full of heart but a tad off the pace. While we were dreaming of a robust 240,000 new jobs, reality handed us a more modest 175,000. It's not quite the signal to paint the town red, but it's fueling a fascinating discussion on the Fed's next move—will they nurture rates or nudge them a smidge? 🤔📝
Industry-wise, healthcare and social lords are sitting pretty on the job front, with transport, retail, and others making more modest contributions to the employment potluck. Perspectives vary, with prime-aged ladies making a noticeable re-entry into the workforce, and immigrant labor lining up for their piece of the American Dream. 🏥🚌🛒
Let's not overlook the big picture—wage growth remains a reassuring companion, albeit with a slight stumble, and inflation is still the dinner guest overstaying their welcome. The Fed's magic potion remains securely corked, but the winds of change are beginning to whistle through the economic trees. 💨🌳
It's all connected, dear listeners—the labor market, inflation, and our journey towards real estate nirvana. Understanding these titanic forces is key to navigating the open seas of house hunting and financial planning, so I'm here with my compass out, ready to guide. 🧭🏘️
MortgageRates #Economy #LaborReport #FederalReserve #Inflation
Share the knowledge, question the trends, and never stop learning. As we gear up for another pulse-poun
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Peter D'Angelo | NMLS: 885309 | Branch Manager | Guaranteed Rate, Inc., NMLS 2611
Peter.DAngelo@Rate.com
*All information, topics, discussion is my own personal opinion and insight, not reflective of Guaranteed Rate, Inc. May contain market information for informational purposes only, not to be used as financial advice.
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