Good morning on this best day of the week, Wednesday, from your Hometown Lender,

Well, it seems he bond market finally woke up today to the realization that the employment picture is not so rosy.

The ADP employment report was supposed to show 117k new jobs and it came in at 35k. Traders took a moment to react but between the employment report, more aggressions in Ukraine, no deal with China, and no inflation, maybe we can see some sustainable rate improvement.

We still have two more days of the gauntlet to run this week with the biggest challenge being Friday.

If you have been floating loans that will be closing in the next two weeks, today is likely your safe day to lock. Waiting any longer could pay dividends, but that is gambling with other people’s money. Friday’s jobs report will move markets, and the last few reports have not helped the bond market.

According to a Realtor.com survey…

Foreign home buyers accounted for 1.9% of Realtor.com’s internet traffic in the first quarter of 2025, compared to 1.7% in the same period in 2024, indicating that foreign demand accounted for a higher portion of U.S. housing demand. The demand from Canada, the leading source of overseas home shopping to the United States, decreased from 40.7% in Q1 of 2024 to 34.7% in the first quarter of 2025, despite this overall gain. Food for thought…

Stay safe and make today great!