John Hardimon NMLS #176561

06/13/2026

USA — and mortgages!

06/08/2026

Good morning and Happy Monday,

The jobs market surprised everyone again. The BLS reported 172,000 nonfarm payrolls added in May which was well above the 85k consensus estimate. Unemployment is holding steady at 4.3%. Revisions also boosted March and April by a combined 93,000 jobs meaning the last three months represent the strongest hiring stretch in over two years. That’s good news for the economy but bad news for bonds. Our resilient labor market hands the Fed no reason to cut, and markets reacted accordingly with the 10-year Treasury yield rising to 4.54% on Friday following the report. Markets are still pricing a 43% chance of a rate hike by December.

Freddie Mac's 30-year fixed came in at 6.48% for the week ending June 4, down slightly from 6.53% the prior week, with Freddie Mac's chief economist noting that income growth is now outpacing home price growth marginally improving affordability.

Over the weekend and into Monday, Israel and Iran exchanged missile and air strikes in their most serious confrontation since the April truce raising fears that the ceasefire could collapse. Trump publicly urged both sides to “immediately stop shooting,” reportedly pressed Benjamin Netanyahu not to escalate further and argued that continued attacks could jeopardize the peace process although he said he still believes a deal is achievable.

Finally, Warsh chairs his first FOMC meeting June 16-17 which will be the most closely watched Fed meeting in years.

05/26/2026

GOOD TUESDAY MORNING!

Hope you had a good memorial Day weekend, and are ready for the summer season. With our new FOMC guy in place, war in Iran still simmering and inflation and oil running amuck … thought I’d leave you some color. Rates are a little tumultuous right now, but if a permanent accord can be reached in Iran, we could see some real improvement there.

On the Detailed Economic side:

The Warsh era is officially underway, and it's already more complicated than markets anticipated. The Senate confirmed Kevin Warsh as the new Federal Reserve chair on May 13 in a 54-45 vote - the closest confirmation in the modern era. Trump nominated Warsh expecting rate cuts, but he's unlikely to get them. Minutes from the April FOMC meeting show "a majority of participants highlighted that some policy firming would likely become appropriate if inflation were to continue to run persistently above 2 percent" which is Fed-speak for rate hikes. Bond markets are now betting Warsh will prioritize inflation-fighting credibility over Trump's push for lower rates with traders pricing in a virtual certainty of at least one rate hike by December. The CME FedWatch tool now shows almost no probability of a cut in 2026. Adding to the dynamic, Powell's decision to remain on the Board of Governors means Warsh is the first new Fed chair in more than 70 years to inherit an active predecessor with a vote, and Powell's public remarks will carry enormous weight alongside Warsh's own.

U.S.-Iran peace talks continue through Pakistani mediation with the Strait of Hormuz, nuclear program, and sanctions still unresolved. Rates ticked slightly lower Friday on emerging signals that a peace agreement could be progressing, but homebuyers should expect rates to remain elevated until a durable deal is reached. Until oil normalizes, inflation won't, and until inflation cools toward 2% neither Warsh nor the FOMC can justify easing.

So, we keep charging ahead – and I will keep you informed.

Saved another deal this week that was denied at a big bank and a local broker – experience CAN make a difference.

Here for you!

05/25/2026

Dad served and uncle always suffered the effects of his service.

I honor all who suffered for my family and this great country,

05/25/2026

Happy memorial day!

Thank you for all who have family that gave the ultimate sacrifice —- in military or first responder

Our tree honors them as well.
:)

05/14/2026

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02/27/2026

5.0 star review received on Experience.com for John Hardimon by David O S - He guided me the whole process

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01/26/2026

4.83 star review received on Experience.com for John Hardimon by Dinesh P - the best thing I can is the presence of the John whenever I need him

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01/18/2026

5.0 star review received on Experience.com for John Hardimon by John P - The problem solving with creditors who made it hard to just get basic info.

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01/13/2026

5.0 star review received on Experience.com for John Hardimon by James M - app was great handling all the paperwork before closing day made closing very quick.

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