Good Monday AM from your Hometown Lender,

Rate sheets are similar to Friday. Both mortgage bonds and the 10yr Treasury are testing the best levels of the year and should be watched today for any signs of reversal. We do have some economic data later this week the most important on Thursday and Friday with PCE (Fed’s favorite inflation gauge), Durable Goods, Consumer Sentiment (I don’t expect good things here), and GDP.

As a note, I put a lot of value in the Consumer Sentiment report.

It is one of the few forward-looking reports and is often a glimpse into the future. Below is a chart on where that has been and where it is going. Lower Consumer Sentiment would translate into lower retail sales and reduced inflation.

And how about this for some great news?

US Home equity is now 50T (trillion), wow…

Stay safe and make today, great!!!