Stonebridge Home Mortgage llc

09/04/2026

Job Gains Surge



Headlines surrounding the conflict in the Middle East continued to create some ups and downs in mortgage markets this week. At the same time, a surprisingly strong jobs report had less of an impact on rates than you might expect. By the end of the week, mortgage rates were slightly higher.





In August, the U.S. economy gained a massive 162,000 jobs, the most since March, surprising economists who had expected employers to add just 55,000 jobs. On top of that, payroll numbers for the previous two months were revised higher by a combined 55,000 jobs. The largest gains were seen in restaurants/bars, education, and manufacturing.




Despite the strong headline number, some of the other details were more in line with expectations. Average hourly earnings rose 0.3% for the month, bringing annual wage growth to 3.1%. That's down slightly from 3.2% the month before and marks the slowest annual increase since May 2021. The unemployment rate held steady at 4.1%, while the participation rate (the percentage of working-age people in the labor force) improved. After hitting its lowest level since March 2021 last month, participation has picked up as significantly more people have entered the
workforce.


We also received two closely watched reports on business activity from the Institute for Supply Management (ISM). The services sector unexpectedly jumped to 55.4, while manufacturing dropped a bit to 54.6 from its strongest reading since May 2022 last month. Both sectors remain comfortably in expansion territory above 50, suggesting businesses are still growing despite economic headwinds. Shifting consumer preferences and higher tariffs on imported goods have helped domestic manufacturers narrow the performance gap with service firms over the last few
years.


Bottom Line: For now, investors are balancing several competing forces: slowing economic growth, persistent inflation, and continued global uncertainty. Inflation has come down significantly from its peak, but it's still well above the Federal Reserve's target. That means the Fed is likely to remain cautious about its next moves. For mortgage rates, that could mean more volatility in the weeks ahead. Daily movements will continue to depend on incoming economic data, comments from the Federal Reserve, and developments around the world.




Looking ahead, attention will remain fixed on the conflict in the Middle East. Investors also will monitor comments from U.S. Fed officials about future monetary policy. The next European Central Bank meeting will take place on Thursday. For economic data, Existing Home Sales and the Producer Price Index (PPI) will come out on Thursday. The Consumer Price Index (CPI), a widely followed monthly inflation indicator that looks at the price changes for a broad range of goods and services, will be released on Friday. Mortgage markets will be closed on Monday for
Labor Day.

08/21/2026

Home Sales Slip



Mortgage markets were pulled in different directions this week. Rising tensions in the Middle East pushed oil prices higher, which raised concerns about future inflation. That pressure was offset by the Treasury's announcement that it plans to significantly increase its purchases of longer-term government debt. The economic data released this week had only a modest impact, and mortgage rates finished with little overall change.


One of the biggest developments was the continued growth of U.S. government debt, which topped $40 trillion this week, more than double the $19 trillion level from ten years ago. As investors have demanded more compensation to hold that debt, longer-term yields have moved higher. With an eye on this, the Treasury announced on Wednesday that it will at least double the maximum amount of its purchases of government debt over the next few months from the current $2 billion limit. According to the Treasury, the purchases will focus on maturities of ten to
thirty years to provide greater liquidity to longer-term bond markets. This added demand for bonds caused yields to decline, including yields on mortgage-backed securities, which was positive for mortgage rates.





In July, sales of previously owned homes slipped 2% from June but still were up slightly from a year ago. The median price of $434,100 was up 2% from last year. Inventory remains one of the biggest challenges for buyers. There is currently only about a 4.6-month supply of homes nationally, still below the roughly six months typically considered a balanced market. Inventory was also slightly lower than it was a year ago.




The latest home building data was not encouraging. After surging 19% in the prior month, overall housing starts in July plunged 13% from June, far more than expected. Single-family starts declined for the fourth straight month to the lowest level since November 2022 and are running 16% below last year's pace. On a more positive note, single-family building permits, a leading indicator of future construction, rose 3% from June and were up slightly from a year ago.


A survey of home builder sentiment on housing market conditions from the NAHB unexpectedly rose slightly to 35 but has remained in negative territory below 50 for twenty-eight straight months. To help generate demand, 63% of builders offered sales incentives in July, while 35% reduced home prices. Builders continue to cite rising land, labor, and material costs as significant obstacles to increasing new home supply.


The big picture: For now, mortgage rates remain caught between competing forces. Inflation concerns and elevated government debt are putting upward pressure on longer-term yields, while Treasury bond purchases are providing some support. Meanwhile, the housing market continues to face a combination of limited inventory, affordability challenges, and cautious builders.




Looking ahead, attention will remain fixed on the conflict in the Middle East and the proposed deal to ease tensions. Investors also will monitor comments from Fed officials about future monetary policy. For economic data, Consumer Confidence and New Home Sales will come out on Tuesday. Personal Income and the PCE price index, the inflation indicator favored by the Fed, will be released on Wednesday. In addition, the Jackson Home economic summit will take place next week, and central bank officials sometimes make important announcements at this
event.

08/14/2026

Inflation Eases



Mortgage markets were pulled in different directions this week. Increased tensions in the Middle East caused oil prices to climb, raising concerns about the outlook for future inflation. On the other hand, consumer spending slowed, and certain inflation measures came in softer than expected. While these offsetting influences created some market volatility, mortgage rates finished the week with little overall change.





The Consumer Price Index (CPI) report, one of the most closely watched inflation indicators, brought some encouraging news. Prices rose just 0.1% in July from June, right in line with expectations. On an annual basis, CPI was up 3.4%, down from 3.5% in June and the lowest level since March.




To reduce short-term volatility and get a clearer picture of underlying inflation trends, investors look at core CPI, which excludes food and energy. In July, Core CPI was 2.5% higher than a year ago, also down from last month. Shelter (housing) costs were up 3.2% on an annual basis and continue to be a primary reason why bringing inflation down to the 2% target of the Fed remains challenging. Airline fares, medical care, and used vehicle prices also posted significant increases this month.


A different inflation report released this week, which measures wholesale costs for producers, contained positive news for mortgage markets. The July Producer Price Index (PPI) was 4.7% higher than a year ago, down from 5.5% the prior month and far below the consensus forecast. Investors generally tend to place more weight each month on the Consumer Price Index report, which better reflects overall inflation levels in the economy. However, the surprisingly soft PPI reading gave mortgage markets a bigger boost than usual.


Consumer spending also showed signs of moderating. After the temporary boost from larger than usual tax refunds faded, retail sales in July unexpectedly dropped 0.6% from June, far worse than the consensus forecast for a slight increase and the weakest monthly reading since May 2025. Spending continued to be driven by higher-income households, supported by continued strength in the stock market. Of note, nonstore retailers posted a large decline this month, likely in part because Amazon Prime Day took place in June this year instead of
July.


The big picture: Inflation appears to be gradually cooling, while the economy continues to show resilience. Investors will be watching that balance closely for clues about the Federal Reserve's next moves and what those moves could mean for mortgage rates in the months ahead.


Looking ahead, attention will remain fixed on the conflict in the Middle East and the proposed deal to ease tensions. Investors also will monitor comments from Fed officials about future monetary policy. The detailed minutes from the July 29 Fed meeting will come out on Wednesday. It will be a light week for economic data. Housing Starts and Import Prices will come out on Tuesday.

08/11/2026

The Bigger Picture Pittsburgh

Rates are creeping higher. Inflation and rates tend to move together. That means affordability will tighten for buyers in the next few months.

But here is what cuts the other direction. A $2 billion data center tax exemption stays in place across Pennsylvania. A $17.5 billion federal loan just went to Westinghouse in Cranberry Township for 10 nuclear reactors. And Kroger just acquired Giant Eagle for $1.65 billion, bringing national-scale capital to a Pittsburgh institution. These announcements say real money is betting on the region. That kind of capital creates jobs that stick around for decades.

Real estate follows employment. Higher rates will slow activity short term. But neighborhoods tied to major employers and infrastructure will hold value and appreciate as the market settles. Watch the infrastructure. That tells you where the market is going.

08/07/2026

Job Gains Fall Short



Mortgage rates continued to see a bit of volatility this week, reacting to changing oil prices and ongoing tensions in the Middle East. However, the biggest driver came at the end of the week, when weaker than expected labor market data pushed mortgage rates lower.





In July, the U.S. economy lost 23,000 jobs, surprising economists who had expected employers to add about 80,000 jobs. On top of that, payroll numbers for the previous two months were revised lower by a combined 103,000 jobs. Construction and healthcare continued to add jobs, while leisure and hospitality saw significant declines. possibly due to the conclusion of the World Cup.




Wage growth also came in softer than expected. Average hourly earnings increased by just 0.1% for the month, far below the consensus forecast. On an annual basis, wages rose 3.2%, down from 3.4% the previous month and the slowest pace since May 2021. The unemployment rate unexpectedly declined to 4.1% from 4.2%, but the improvement was not entirely encouraging. The drop was largely driven by people leaving the labor force rather than stronger hiring, with the participation rate (the percentage of working-age people in the labor force) falling to the lowest
level since March 2021.


We also received two closely watched reports on business activity from the Institute for Supply Management (ISM). The services sector continued to expand, though at a slightly slower pace than expected, while manufacturing posted its strongest reading since May 2022. Both sectors remain in expansion territory, suggesting businesses are still growing despite economic headwinds. Shifting consumer preferences and higher tariffs on imported goods have helped domestic manufacturers narrow the performance gap with service firms over the last few
years.


Bottom Line: Investors are continuing to weigh a mix of slowing economic data, stubborn inflation, and global uncertainty. While inflation has cooled from its peak, it's still above the Federal Reserve's target, which is likely to keep policymakers cautious. As a result, mortgage rates will probably remain volatile from day to day as investors react to Fed comments, economic data, and geopolitical events.




Looking ahead, attention will remain fixed on the conflict in the Middle East and the proposed deal to ease tensions. Investors also will monitor comments from Fed officials about future monetary policy. For economic data, Existing Home Sales will come out on Tuesday. The Consumer Price Index (CPI), a widely followed monthly inflation indicator that looks at the price changes for a broad range of goods and services, will be released on Wednesday. The Producer Price Index (PPI), another monthly inflation indicator, will come out on Thursday. Retail Sales
will be released on Friday.

07/24/2026

Oil Prices Climb



Rising tensions in the Middle East pushed oil prices higher this week, renewing concerns that inflation could remain stubborn. The latest economic data had little impact on financial markets, and mortgage rates finished the week near their highest levels in roughly one year.





In June, sales of previously owned homes slipped slightly from May but still were up 3% from a year ago. The median price of $440,600 was up 2% from last year to a record high. Inventories remain stuck at low levels, standing at just a 4.6-month supply nationally, well below the roughly 6-month supply typical in a balanced market. However, inventories were a bit higher than a year ago.




The latest home building data contained mixed news. In June, overall housing starts jumped 19% from May, more than expected. However, this was driven entirely by volatile multi-family units, while single-family starts declined for the third straight month. Single-family building permits, a leading indicator of future construction, fell to the lowest level since August 2025. A survey of home builder sentiment on housing market conditions from the NAHB unexpectedly dropped to 34 and has remained in negative territory below 50 for twenty-seven straight months.
To help generate demand, 63% of builders offered sales incentives in June, while 37% reduced home prices. Builders continue to cite rising land, labor, and material costs as the biggest obstacles to increasing new home supply.


In the latest reading, the number of Americans seeking unemployment benefits for the first time unexpectedly dropped to just 187,000, the lowest level since the 1960s. Weekly jobless claims are important because they are one of the timeliest indicators of labor market trends. While other recent economic reports suggest that companies may be scaling back on hiring new employees, this report indicates that they remain reluctant to lay off workers.


Bottom Line: Inflation concerns remain elevated as energy prices rise, mortgage rates continue to hover near one-year highs, housing inventory remains constrained, and builders face ongoing affordability and cost challenges. At the same time, the labor market continues to show resilience, reinforcing expectations that interest rates could remain higher for longer.




Looking ahead, attention will remain on the conflict in the Middle East and the proposed deal to ease tensions. The next Fed meeting will take place on Wednesday. No change in rates is expected, and investors will be closely analyzing the commentary for clues regarding future policy adjustments. For economic reports, Consumer Confidence will come out on Tuesday. Second quarter GDP, the broadest measure of economic activity, and the PCE price index, the inflation indicator favored by the Fed, will be released on Thursday.

07/20/2026

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07/17/2026

Inflation Eases



Mortgage markets were pulled in opposite directions this week. A flareup in tensions in the Middle East caused oil prices to climb, raising concerns about the outlook for future inflation. At the same time, the latest economic data revealed that current inflation levels are significantly lower than expected. While these offsetting influences created some market volatility, mortgage rates finished the week with little overall change.





The Consumer Price Index (CPI), one of the most closely watched inflation indicators, showed that prices fell 0.4% in May from the previous month, more than expected and the largest monthly decline since April 2020. The annual rate was 3.5% higher than a year ago, down substantially from 4.2% last month to the lowest level since March.




To reduce short-term volatility and get a clearer picture of underlying inflation trends, investors look at core CPI, which excludes food and energy. In June, Core CPI was 2.6% higher than a year ago, also down sharply from last month. Shelter (housing) costs were up 3.3% on an annual basis and continue to be a primary reason why bringing inflation down to the 2% target of the Fed remains challenging.


A different inflation report released this week, which measures wholesale costs for producers, also contained positive news for mortgage markets. The June Producer Price Index (PPI) was 4.7% higher than a year ago, down from the prior month and far below expectations. Its impact was relatively minor, however, as investors tend to place a lot more weight each month on the Consumer Price Index report, which better reflects overall inflation levels in the economy.


Consumer spending also showed signs of moderating. With the added firepower from larger than usual tax refunds winding down, retail sales in June rose a modest 0.2% from May, matching expectations, but far below the results for the last several months. Spending continued to be driven by higher-income households, supported by continued strength in the stock market. Sectors with the strongest gains included appliances, auto dealerships, and nonstore retailers (helped by the Amazon Prime Day event).


Overall, the latest data suggests that inflation continues to cool while the economy remains resilient. Investors will continue to watch this combination closely as they look for clues about the Federal Reserve's next moves and the future direction of mortgage rates.




Looking ahead, attention will remain on the conflict in the Middle East and the proposed deal to ease tensions. Investors also will monitor comments from U.S. Fed officials about future monetary policy. The next European Central Bank meeting will take place on Thursday. It will be a light week for economic reports. New Home Sales will be released on Friday.

07/14/2026

https://www.facebook.com/share/195Qnomc78/?mibextid=wwXIfr

Across the country, a growing number of single women are deciding that homeownership doesn’t have to be tied to marriage. Instead, they’re purchasing homes on one income, building equity instead of paying rent.

Few places illustrate that cultural shift better than Pittsburgh.

The Pittsburgh metropolitan area ranked among the nation’s top markets for single female homebuyers, according to a new study by Mortgage Research Network, based in Columbia, Mo. In 2025, 14.2% of all home-purchase mortgages in the region went to single women, placing Pittsburgh among the country’s top 10 metropolitan areas.

Pittsburgh earned the No. 9 spot on the list because of something increasingly rare in today’s housing market — affordability.

Single women in Pittsburgh paid an average purchase price of $228,113 — the lowest among the study’s top 10 markets and far below the group’s average of roughly $309,000, giving single women here a greater opportunity to buy homes on a single income.

Real estate agents say affordability isn’t just helping local women become homeowners. It’s also attracting single women from some of the nation’s most expensive housing markets.

Link in comments to read more. ⬇️

07/13/2026

Home Sales Slip



Mortgage markets remained sensitive to fluctuations in energy prices this week, with headlines surrounding the conflict in the Middle East contributing to periods of volatility. The major economic data revealed no significant surprises, and mortgage rates ended the week slightly higher.





In June, sales of previously owned homes fell 2% from May but still were up 3% from a year ago. The median price of $440,600 was up 2% from last year to a record high. Inventories remain stuck at low levels, standing at just a 4.6-month supply nationally, well below the roughly 6-month supply typical in a balanced market. However, inventories were a bit higher than a year ago, offering buyers more options.




Two significant economic reports from the Institute of Supply Management were in line with expectations for slight declines from last month's strong results. The ISM national services sector index fell to 54.0, while the ISM national manufacturing sector index dropped to 53.3. Readings above 50 indicate an expansion in the sectors. While tariff policies have been uncertain since the Supreme Court decision in February, higher tariffs implemented last year may be helping domestic manufacturers narrow the performance gap with service firms over the last few
years.


The first Fed meeting led by new Chair Warsh took place on June 17, and as usual the detailed minutes were released three weeks later. The minutes highlighted a broad range of opinions among policymakers regarding the inflation outlook. Ongoing uncertainty surrounding oil prices and tariff policy continues to make forecasting more challenging, leaving Fed officials nearly evenly split on whether the next move in the federal funds rate is more likely to be a cut or a hike. As a result, future Fed monetary policy decisions will remain highly dependent on
incoming economic data, providing investors with limited forward guidance.




Looking ahead, attention will remain fixed on the conflict in the Middle East and the proposed deal to ease tensions. Investors also will monitor comments from Fed officials about future monetary policy. For economic reports, the Consumer Price Index (CPI), a widely followed monthly inflation indicator that looks at the price changes for a broad range of goods and services, will be released on Tuesday. The Producer Price Index (PPI), another monthly inflation indicator, will come out on Wednesday. Retail Sales will be released on Thursday. Since consumer
spending accounts for over two-thirds of U.S. economic activity, the retail sales data is a key measure of the health of the economy. Housing Starts and Import Prices will come out on Friday.