Team Smolke

08/20/2026

5.0 star review received on Experience.com for Lori Smolke by Mary W - Lori was THE ONLY lender we spoke with who was upfront about costs. We appreciated her integrity.

Read more: https://experience.com/reviews/lori-smolke-319134/3fe0ce0e-5324-44bb-90ac-409b4c6d1962?V=1787234704&utm_source=facebook&utm_medium=autopost&utm_content=13445518

07/31/2026

5.0 star review received on Experience.com for Lori Smolke by Michele S - Lori's team is professional, responsive, and very helpful.

Click to see all 125 reviews of Lori Smolke, Fairway Home Mortgage

10/30/2024

Soooo excited for what we have coming up in January at our office!! Stay tuned…

10/21/2024

💡 Are You Still Carrying Credit Card Debt? Did you know that the average credit card rate is 28.46%? It's Time for a Smarter Move! 💸

With the average credit card rate hitting a whopping 28.46%, now is the perfect time to explore a cash-out refinance! If you're a homeowner, you could use the equity in your home to pay off high-interest credit card debt and secure a MUCH LOWER interest rate.

✔️ Lower your monthly payments
✔️ Reduce overall interest costs
✔️ Simplify your finances

Why keep paying sky-high interest when you have better options? Let’s chat about how a cash-out refinance could help you take control of your financial future! 🏡💰

📲 Message me today to learn more or get started!

09/30/2024

Fairway Mortgage has generously donated $1 million to hurricane relief efforts! 💚 Their commitment to supporting communities in need is truly inspiring. Thank you, Fairway, for making a difference!

https://www.prnewswire.com/news-releases/fairway-establishes-1-000-000-hurricane-relief-fund-and-challenges-other-lenders-to-follow-suit-302262881.html?tc=eml_cleartime

09/26/2024

📈 Market Update – September 25, 2024 (Thursday)

The stock market had a good day! The Dow climbed +260.36 points to 42,175.11 ⬆️, and the S&P 500 increased +23.11 points to 5,745.37 ⬆️. Mortgage Bonds stayed pretty steady.

🏠 Pending Home Sales

Sales of existing homes (pending contracts) went up 0.6% in August, better than the expected 0.3% ⬆️. However, sales are still down 3% year-over-year, which is better than last month's -8.5%.
As mortgage rates fell to 6.5%, housing affordability improved a bit. Contract signings are still low, but we expect to see improvement as rates drop further in the coming months 📉.
💼 Jobless Claims

First-time jobless claims fell by 4,000 to 218,000, showing that employers are holding onto workers 🤝.
Continuing claims (people still receiving benefits) increased slightly to 1.834 million, near the highest levels since late 2021.
📊 Q2 GDP Final Reading

The US economy grew by 3% in Q2, in line with expectations, and stronger than Q1 (which was revised to 1.6%) 📈. Tomorrow, we'll get the important PCE inflation data for August.
🛠️ Durable Goods Orders

Orders for long-lasting goods were flat in August, which was better than the expected -2.6%. Core durable goods (excluding transportation) rose 0.2%, beating estimates 📦.
🔍 Technical Analysis
Mortgage Bonds are hovering below the 25-day Moving Average, and the 10-year Treasury yield is moving higher 📉. Tomorrow’s PCE inflation report could shake things up!

Closing position: Eyes on tomorrow’s inflation data!

09/26/2024

Some great tools and learning going on with Khai McBride - Performance Coach! Looking forward to more nuggets and future classes! Love the support and community he has provided this week! Sometimes we all need to be reminded to get out of our own way.

09/26/2024

📉 Market Update – September 25, 2024

Stocks took a dip today, with the Dow down -293.47 points to 41,914.75 📉, and the S&P 500 dropping -10.67 points to 5,722.26 📉. Mortgage bonds also ended lower for the day.

🏠 Mortgage & Housing Update

Mortgage rates fell slightly to 6.13% 📉, down from 6.15%.
Good news for homebuyers: Purchase applications increased by 1% last week and are up 2% compared to last year – the first time in two years we've seen a positive year-over-year change 📈.
Refinances are booming, jumping 20% last week and up a massive 175% year over year! 💥
🏡 New Home Sales

New home sales fell 4.7% in August but still beat expectations 📊.
There are now 467,000 new homes for sale, with a 7.8-month supply on the market 🏘️, but only 105,000 of those are completed. Most are still under construction or haven't started due to high costs.
💡 Bottom line: Demand for new homes is picking up as mortgage rates moderate, and we expect even stronger sales ahead 📈.

🔍 Technical Analysis
Mortgage bonds are testing a key support level at the 25-day Moving Average, while the 10-year Treasury yield has broken above its 25-day average, with more room to climb 📊.

09/24/2024

📈 Market Update – September 24, 2024

The stock market continued its upward trend today! 🚀 The Dow rose by +83.57 points, closing at 42,208.22 📊, while the S&P 500 gained +14.36 points to finish at 5,732.93 📈. Mortgage bonds also saw a boost 📈.

💬 What’s happening with China? 💬
China announced new stimulus measures to jumpstart its economy, which helped its stock market and lifted commodity prices globally 🌍. However, this move caused bond prices to drop and yields to rise, raising concerns about inflation 📉.

💬 What’s the Fed saying? 💬
Atlanta Fed President Raphael Bostic supported a 50-basis point interest rate cut due to uncertainty in the job market 🏢. Chicago Fed President Austan Goolsbee emphasized the need to act quickly to keep inflation in check and avoid a recession. Meanwhile, Fed Governor Bowman expressed concerns about inflation remaining above the 2% target 🏠.

🏡 Home prices on the rise! 🏡
Home prices continue to climb, with the Case-Shiller Home Price Index showing a 0.2% increase in July and a year-over-year rise of 5% 📈. The FHFA also reported a small uptick in home prices.

🔍 Technical Analysis 🔍
Mortgage bonds tested a key support level today but bounced back positively 📊. The 10-year Treasury yield remains below its average, trading within a stable range.