A Home Equity Line of Credit (HELOC) is a popular financing option that allows homeowners…
💸 Hold The Line
Issue 93 – Good Morning and Happy Tuesday.
Before anything else, please register and join us for the lender panel (details below) tomorrow, Wednesday, October 16th!
Shorter newsletter today, took yesterday off (see below) and the markets were closed as well, so it was a crunch this morning!!
Personal note: We had some great friends visiting from San Diego, so we got to play tourist over the weekend.
Wine tasting in Dry Creek Valley at Mounts Family Winery and exploring Armstrong Redwoods State Park in Guerneville.
Family picture in Dry Creek – Mounts Winery
JJ & Grayson are goofing around at Armstrong Woods State Park.
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Piggyback rides at the winery.
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It was an excellent long weekend with wonderful friends. Highly recommend 10/10.
Kids up high, parents down low at Armstong Woods State Park.
EVENTS
North Bay Real Estate Agents!!
Join us at the Epicenter for a lender panel about the current market.
INTEREST RATES
Rates 📢 October 15th, 2024
10-Year-Treasury 30-Day Snapshot
|
Product |
Rate / APR |
Weekly Change |
|---|---|---|
|
↔️ Conv. |
6.625% / 6.641% |
+.000% |
|
↔️ Conv. HB |
6.999% / 7.001% |
+.000% |
|
⬇️ JUMBO |
6.625% / 6.634% |
-.500% |
|
↔️ FHA 3.5% DP |
5.750% / 6.672% |
+.000% |
|
↔️ VA 0% DP |
5.750% / 5.961% |
+.000% |
Rate data as of morning of publication. Unless noted otherwise, all scenarios are assuming 30 Year-Fixed mortgage, Purchase or R/T Refinance. No origination points charged, 780 FICO score, and 20% down payment. Provided for consumer education only and does not serve as a binding offer to extend lending. Payment period, interest rate, APR, and other terms subject to income, asset, and credit profile qualification. Provided courtesy of GTG Financial, Inc. NMLS 1595076. Equal housing opportunity. www.nmlsconsumeraccess.org
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Rates: Almost identical to last week. JUMBO pricing is lagging, as usual. Seems like we might be calming down a little bit!
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TECHNICALS
Inflation Close, But No Cigar
Almost to the Fed’s 2% target
🏡 Market Update: Inflation, Jobless Claims, and Home Prices
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Inflation: Rose 2.4% in September, slightly above expectations. Core inflation (excluding food and energy) up 0.3%.
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Key takeaway: Cooling shelter costs (46% of core inflation) could help lower mortgage rates over time.
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Wholesale Inflation (PPI): Annual rate at 1.8%, much lower than 2022’s peak of 11.7%.
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Key takeaway: Inflation is trending downward, but progress will be gradual.
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Jobless Claims: Hit 258,000—highest in 14 months, driven by hurricane impacts.
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Key takeaway: A slower job market could affect buyer confidence.
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Home Prices: National values up 3% year-over-year in August. Case-Shiller and FHFA report similar gains.
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Key takeaway: Homeownership continues to be a strong investment for wealth building.
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