Good Friday Afternoon, from your Hometown Lender,

Glad to say it’s the end of the week.

This could have been a much better week for rates but we did hit a few speed bumps mostly on revised downward expectations for the next Fed meeting. Last week markets were sure the Fed would cut 50 basis points in September and adjusted rates to that expectation, now the odds favor just a 25 basis point cut.

The positive is that we are ending on a good note today despite the bond market taking a hit this week.

Next week will bring the minutes from the last Fed meeting and speeches from the Jackson Hole Symposium where traders will be looking for signs of what the Fed will do. Thursday will have some PMI data that traders will be watching as well and hopefully give the bond market the opportunity to regain some of the lost pricing.

For the first time ever more than 8% of properties nationwide are worth more than $1mm.

More money is always made in real estate than elsewhere.

Stay safe, enjoy the weekend, and make today great!