Seamus Donohoe - Supreme Lending McClellan Region

Seamus Donohoe - Supreme Lending McClellan Region Supreme Lending offers competitive interest rates and terms on home mortgages, second mortgages and

01/28/2022

The Fed's favorite inflation gauge, the Core PCE, rose 4.9% versus the 4.8% expected from December 2020 to December 2022, the highest level since September 1982 while the monthly number rose 0.5%. However, one key economic data that the financial reporters never cover is the Employment Cost Index (ECI), a measure of inflation for wages. It rose 1% in Q4 2021 down from 1.3% in Q3 while Personal Incomes and Spending also declined ... both positive for bonds. Fed Chair Powell mentioned on Wednesday that the central bank watches the ECI.

01/27/2022

Sales of new single-family homes rose in December from November on the notion that with higher rates forecasted in 2022, potential homebuyers were out ahead of the possible increase in borrowing costs. Home borrowing costs jumped in the latest week to levels not seen since March 2020.

01/26/2022

The November S&P Case-Shiller 20-City Home Price Index was up 18.3% annually from 18.5% in October and was up 1% monthly from October. Consumer Confidence slipped in January from December after three straight monthly gains at the end of 2021. The MBA reports that mortgage applications for new home purchases in December 2021 declined 7.1% from December 2020.

01/20/2022

Low inventories continue to be thorn in the side of potential home buyers across the nation, while mortgage rates continue to increase. Home borrowing costs rose to near levels seen in late March of 2020 this week, though they remain historically low. First-time unemployment claims continued to remain low in the latest week as the country continues to get back to normal as the pandemic subsides.

01/11/2022

The NFIB Small Business Optimism Index inched higher in December from November with many business owners citing inflation as their number one obstacle. Inflation is at the highest level since the 1980s and is having an overwhelming impact on owners' ability to manage their businesses. Mortgage credit availability rose last month according to the Mortgage Credit Availability Index (MCAI), a report from the MBA.

08/25/2021

ales of new single-family homes were up in July from June which was revised higher. The latest number of homes in forbearance were unchanged in the latest data with exits at their slowest pace in a year. Goldman Sachs announced this morning that the investment bank has raised its odds on the Federal Reserve beginning to taper its QE asset purchase program in November from 25% to 45%.

08/09/2021

The labor market got a much needed shot in the arm in July as employers went on a hiring spree. The Labor Force Participation Rate was unchanged at 61.7% and remains stubbornly low ... meaning there are fewer people "participating" in the labor force. Gas prices at the pumps continue to rise as demand increases during the summer months.

07/16/2021

First-time unemployment claims fell to a post-shutdown low in the latest week. At present, there are 9.2 million jobs available across the nation, according to the Bureau of Labor Statistics. Weekly Initial Jobless Claims came in at 360,000 for the week ended July 10, 2021, from 386,000 in the previous week. To put it into perspective, the week of April 4, 2020 claims were over 6 million as the shutdowns took hold. Continuing claims, or those receiving benefits for at least two weeks straight, fell to 3.241 million from 3.367 million. With all U.S. states having reopened their economies, many unemployed Americans should be able to go back to work as the enhanced unemployment benefits are set to expire in September.

07/14/2021

Home borrowing costs declined in the latest week and remain at historically low levels. The Market Composite Index, a measure of total mortgage loan application volume, jumped 16%, the Purchase Index rose 8% while the Refinance Index surged by 20%. In his prepared speech ahead of testimony in front of Congress, Fed Chair Powell said that the Job market 'still a ways off' from progress needed to begin taper.

07/13/2021

Big event week on tap for the financial markets this week. The key inflation reading Consumer Price Index for June will be released on Tuesday as investors look for any signs of continued heated inflation. Quarterly earnings season kicks off to gauge the health of corporate America.

06/17/2021

Home borrowing costs inched lower this week and remain at historically low levels. Freddie Mac says that purchase demand has weakened over the last couple of months, primarily due to affordability constraints stemming from high home prices. First-time unemployment claims rose last week for the first time in seven weeks as the labor market continues to get back to full strength.

02/19/2021

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