Good Tuesday AM from your Hometown Lender,

Rates are marginally better today.

Despite consumer confidence showing less concern over inflation and tariffs, and JOLTS data showing the labor market isn’t weakening too much at this point, bonds are off to a good start on the day, leaving the door open to floating into tomorrow’s Fed action. We do have to run the gauntlet of ADP jobs and GDP tomorrow am before we get to the Fed decision/commentary (and even before lock desks open), so, if you are thinking you have until the 11 am Fed announcement to make the call to lock, know there could be some consolidation earlier in the am.

New home inventory rose to 511k units, which is the highest since September 2007.

While the increase in inventory has been widespread across all geographies, I was surprised to read that the South has accounted for 44 percent and now has more new homes for sale than its pre-recession peak in August 2006. Along with that, reports about artificial intelligence taking jobs and tariffs tanking the economy is feeding into buyer indecision. The WSJ shared a piece how new college graduates are more challenged finding jobs as AI is already replacing their entry level jobs.

Stay safe and make today great!!!

Stay safe and make today great!