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07/16/2024

The assassination attempt on former President Trump didn't impact the mortgage market, but the stock market reached a record high.

There's a high probability of Trump winning and confidence that interest rates will be cut this year. A potential second Trump administration is expected to lead to less regulation and lower taxes, boosting stocks. However, lower tax revenue might necessitate issuing more Treasury bonds, which could negatively impact interest rates.

JP Morgan forecasts a Fed rate cut in September with quarterly cuts to follow. The confidence in a September rate cut stems from a decline in CPI inflation in June, the first month-over-month decline in over four years. Year-over-year inflation was 3%, the lowest in over a year, and core inflation had its lowest reading in three years. Housing inflation is also slowing. A September Fed rate cut seems likely regardless of July or August data.

07/10/2024

Ahead of tomorrow's CPI (Inflation Report) Fed Chair Jerome Powell made a key statement yesterday that we needed to pay attention to," Powell stressed there are two risks for the Fed... moving too soon and moving too late. He basically reminded everyone that the Fed's mandate is not just price stability (aka inflation) but also full employment... and that's where he dropped us a hint. It's a big hint, and many pundits heard it. Powell said, “the latest data shows that labor-market conditions have now cooled considerably from where they were two years ago—and I wouldn’t have said that until the last couple of readings.” He continued to basically say that the labor market is back to pre-pandemic levels and is no longer overheated, and is not a source of inflationary pressures. This is important, because it supports the Fed cutting rates twice this year... at least according to markets."

07/01/2024

Market update for the week of July 4th

We're going to see a lot of volatility this week and it starts today. There is a lot of economic data this week, capped off with Friday's BLS jobs data. Markets will be closed early on Wednesday and will be closed on Thursday for Independence Day. Many traders will make it a 4-day weekend, but will still react to the jobs data Friday morning. This week could either be really good for rates or really bad...Unless you absolutely have to- avoid locking loans until next week.

05/12/2024

Happy Mother's Day to all the wonderful moms! Sending warm wishes from Aquino Capital Group to celebrate the love, strength, and endless sacrifices of motherhood. Today, and every day, you are appreciated and celebrated! 💐

05/12/2024

Happy Mother’s Day to all the wonderful moms! Sending warm wishes from Aquino Capital Group to celebrate the love, strength, and endless sacrifices of motherhood. Today, and every day, you are appreciated and celebrated! 💐

05/05/2024

04/24/2024

Attention Realtors - Take advantage of Conventional Financing with just 1% Down. Ask us how!