As we barrel towards an exciting change in the Mortgage and Housing market, it’s best to start getting your documents in order.

Let’s take a look at the numbers 2019 vs Today

• Core PCE: 1.8% vs 2.6%
• Unemployment Rate: 3.6% vs 4.3%
• Job Openings to Unemployment ratio: 1.24% vs 1.2%
• Hiring Rate: 3.9% vs 3.4%
• Fed Funds Rate: 2% vs 5.375%
• 10-year Treasury: 2.8%-1.9% vs 3.80%
• 30-year fixed Mortgage Rate: 4% vs 6.5%

We know inflation is higher today but has been dropping precipitously. The Labor market is weaker but the Fed Fund rate remains much higher than 2019.

Durable Goods Orders jumped 10%, with expectations at 5%, but most of that boost came from aircraft orders. When you take those out of the equation, the numbers actually dipped 0.2%. It’s a reminder that a single statistic doesn’t tell the whole story.

Here is a fun link to a video I did last week regarding refinancing. Have a fantastic week.