Remember QE? Good Times.

Back in the day, QE (Quantitative Easing) meant the Federal Reserve buying up US Treasuries like it was Black Friday at Best Buy. The result? Lower mortgage rates and happy homebuyers. Those were simpler times.

Fast forward to today, and oil is strutting around at $96/barrel, the highest we’ve seen since June. Naturally, the bond market did not take this well. Rates nationally have shot up to all-time highs, north of 6.75%. Bonds are basically the friend who overreacts to everything.

Jobs: Slow and Steady (Mostly Slow)

ADP says the economy cranked out 12,000 jobs per week over the last four weeks. That’s a slight bump from the prior four weeks’ 10,000, like going from a jog to a slightly faster job, putting us on pace for roughly 50,000 jobs this month. That’s weak, folks. We’re hoping the Fed is paying attention, but we’re not holding our breath.

Mortgage Applications: Buyers Said “Enough Waiting”

Despite rates sitting 36 basis points higher than this time last year, mortgage applications are up 6.85%. Turns out buyers and sellers are done waiting around for the mythical “perfect” rate or home value to magically appear. Spoiler alert: it’s not coming. Life moves on, deals get done, and people are starting to figure that out.

Ready to Join Them?

Stop waiting for perfect. Get pre-qualified today: www.YourApplicationOnline.com