Good Monday AM from your Hometown Lender,

Kids are back to school today so things are a bit chaotic… at home.

Zero correlation to the markets, which are mostly flat on the day. Bonds are edging out a small win so far with the 10-yr down to 3.92%. This is a big week for news with the data starting to roll in tomorrow with PPI, Wednesday is CPI, Thursday is Unemployment claims and Retail sales. These are the three biggest reports that will drive markets to confirm which direction the economy is heading. There are some smaller yet significant reports as well which can make things a bit stickier. If rates continue to improve today, it will be worthwhile locking before tomorrow’s data.

With minimal news to share, I thought I would share a few snapshots of current conditions…

We all continue to hear about active Housing inventory increasing. There is one loan dot in the below graph where inventory has shrunk year over year. I would share this with all of your clients.

Look at the slope of the rate drops… History repeats itself and we should expect a similar return to more favorable rates.

This speaks for itself.

Stay safe and make today great!