Chad McDowell, Geneva Financial, LLC Tennessee. NMLS #172223

Good morning! It was bit of a rough week for mortgage rates. After hitting their lowest point of the year the week before, we lost some of those gains. A portion of that can be attributed to market correction, we saw a strong reaction to labor news that pushed rates down and it isn't uncommon when there's a big move one way or another that we then get a little pull back. In addition to a typical market correction, we also saw a reaction to the jobless numbers, those were slightly better than expected and it was enough to keep the upward pressure on interest rates. Call me with questions and have a wonderful week!

Chad McDowell
Loan Officer NMLS #172223
[email protected]
615-584-7828

Good morning! It was a really good week for interest rates and we are now firmly at the lowest point in 2024. It seems like for the last few months we've been waiting to see if rates could get some downward momentum and it just hasn't taken hold. This feels like it could be different. The labor market had two different reports come in last week worse than expectations, jobless claims are up, unemployment is going up. Those types of numbers are pushing money into the bond market and helps mortgage rates to go lower. It's also what the Fed has been waiting to see before they start to move rates down. Call me with questions and have a wonderful week!

Chad McDowell
Loan Officer NMLS #172223
[email protected]
615-584-7828

Good morning! Last week wasn't bad for interest rates. They did drop slightly but continue to move in an extremely tight range, not a lot of volatility lately at all. For what movement there is, inflation is still the primary driver. Last weeks inflation numbers were good. Nothing spectacular and not really enough to have a significant market impact but it was in line with the Fed target number and if that trend continues then we'll eventually get rate cuts. One of biggest reasons last weeks inflation numbers looked good was because housing inflation dropped. Shelter costs have risen significantly and seeing those numbers start to find a level will help the overall inflation outlook tremendously. Call me with questions and have a wonderful week!

Chad McDowell
Loan Officer NMLS #172223
[email protected]
615-584-7828

Good morning! It was pretty uneventful week for mortgage rates. Technically they finished higher than they started but it'd be hard to notice. Up until Friday when they pushed up a little bit, for what appears to be no particular reason, rates had been actually trickling slowly lower. That Friday bump basically brought everything back to level. Jobless claims were slightly higher than expected in a report early in the week, that helped rates a bit but overall things were pretty flat. Call me when with questions and have a wonderful week!

Chad McDowell
Loan Officer NMLS #172223
[email protected]
615-584-7828

Good morning! It was a really good week for interest rates and it was all about inflation! It looks like we're finally getting some momentum on those numbers. Last weeks monthly report was the second straight where we saw inflation at or below the Fed target and this most recent one was well under that number. Inflation has been the primary reason behind the rise in rates and the main thing the Fed has been trying to battle with the rate hikes so this was a big win! Call me with questions and have a wonderful week!

Chad McDowell
Loan Officer NMLS #172223
[email protected]
615-584-7828

Good morning! We had some added volatility last week but ultimately interest rates ended pretty much where they started. Rates moved higher early in the week for what seemed like no particular reason. There wasn't any specific data or report that markets appeared to be responding to but it certainly got us off to a rough start. But then we got a rally on Wednesday and even more of a push down on Friday. Both were due primarily to jobs numbers. The reports weren't awful but unemployment rates were higher than expected, wages were lower than expected, neither missed by much but it was enough to move the bond market and give interest rates a break! Call me with questions and have a wonderful week!

Chad McDowell
Loan Officer NMLS #172223
[email protected]
615-584-7828

Good morning! It was another flat week for interest rates to cap off what was basically a flat month. There were some ups and downs but overall rates have moved in a very tight range without much volatility. It looked like we were going to get some positive movement on Friday after some new inflation data came in and looked pretty promising but after rates started to head down they lost momentum and reversed course. There didn't seem to be any rhyme or reason as to why, it could have simply been traders closing out month end positions or even investors wanting to watch the presidential debate before deciding a course of action. Whatever the cause, it was enough to squash the potential rate rally for now. Call me with questions and have a wonderful week!

Chad McDowell
Loan Officer NMLS #172223
[email protected]
615-584-7828

Good morning! It was an uneventful week for interest rates. Technically, they went up but it would be hard to notice. Rates have moved in a really small range over the last few weeks. There's been news that mortgage rates have in fact hit their lowest in several months, that is a reaction to the Freddie Mac survey which was summed up nicely as being "notorious for modest inconsistencies with reality"...couldn't have said it better. More accurately, June has really been pretty flat and what movement we've gotten week to week has been pretty modest. Call me with questions and have a wonderful week!

Chad McDowell
Loan Officer NMLS #172223
[email protected]
615-584-7828

Good morning! It was a pretty good week for interest rates. Could have been better, certainly could have been worse. The two biggest influencers on interest rates right now seem to be the job numbers and inflation numbers. The jobs data from two weeks ago pushed rates up until last weeks inflation report brought them back down. Despite the yo-yo'ing, interest rates continue to move in a pretty small range. The inflation numbers initially had a really good impact but that momentum slowed considerably with the Feds comments after. While not wholly unexpected, their projections of three potential rate cuts has now been revised to one potential rate cut this year. Call me with questions and have a wonderful week!

Chad McDowell
Loan Officer NMLS #172223
[email protected]
615-584-7828

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This is a fantastic loan option to consider and if you have any questions about it or want to see if you qualify, give me a call!

Chad McDowell
Loan Officer NMLS #172223
615-584-7828
[email protected]

Good morning! Interest rates ticked up slightly last week but it wasn't much and it looked like it was going to be a lot worse! We started off with rates pushing quickly higher. It was mainly a continued reaction to the previous weeks comments from Fed members that we're going to need to see several more good inflation reports before rate cuts will be considered. Add to that a bond auction that didn't show a lot of demand and rates jumped quick. The end of the week got more friendly, some core inflation numbers came in they were just slightly under expectations. Inflation is such a primary driver of rates right now so even a slight win was enough to cause a rally. Call me with questions and have a wonderful week!

Chad McDowell
Loan Officer NMLS #172223
[email protected]
615-584-7828

Good morning! It was an uneventful week for mortgage rates. Technically they are higher but it's barely enough to notice. There wasn't any particular economic data to react to and it seemed like what rate movement we did get was in response to various comments from individual Fed members. Concerns that the inflation numbers haven't come down as anticipated had them talking about continuing with higher rates and moving off their stance of rates dropping this year. We've already known that multiple rate cuts in 2024 was a near impossibility at this point but there is still hope that we get at least one. Call me with questions and have a wonderful week!

Chad McDowell
Loan Officer NMLS #172223
[email protected]
615-584-7828

Good morning! It wasn't a bad week for mortgage rates and we've seen them come back down from the April highs. It's been slow but the trend is in the right direction. The inflation numbers we were looking for last week came in basically as expected and still higher than what the Fed is targeting but even with that the markets reacted strongly and mortgage rates dropped. Markets then seemed to correct themselves and we lost most of those gains by Friday. There isn't much on the economic calendar for the next couple of weeks, political news and world events can always impact rates but barring something unforeseen, volatility should be pretty low for a while. Call me with questions and have a wonderful week!

Chad McDowell
Loan Officer NMLS #172223
[email protected]
615-584-7828

Good morning! It was another decent week for mortgage rates. Technically, we're at the lowest levels that we have seen in a month, that sounds a little better than it really is but we'll take it. There was a spike up in rates on April 10th and since that day rates have slowly come back down so while "lowest in a month" is a true statement we effectively took a month to get back to where we were before. We have some potential for volatility this week with more inflation data coming up and retail sales numbers, both can certainly push the markets one direction or another depending on how they come in. Call me with questions and have a wonderful week!

Chad McDowell
Loan Officer NMLS #172223
[email protected]
615-584-7828

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Good morning! It was a good week for mortgage rates...feels like it has been a little while since I said that. The biggest market movers last week were the Fed chairs comments on Wednesday and Friday's jobs numbers. There were no big surprises during the Fed meeting, there was no change to rates and none was expected but the post-meeting comments seemed to resonate with investors. Fed Chair Powell suggested some positive momentum with inflation and addressed concerns that the Fed wouldn't do anything with their monetary policy as the election got nearer in order to avoid that looking like a political move. Rates were already having a decent week when the jobs report came out on Friday and missed expectations by a substantial number. That helped to push rates down even more. Call me with questions and have a wonderful week!

Chad McDowell
Loan Officer NMLS #172223
[email protected]
615-584-7828

Good morning! Rates were up last week but it certainly wasn't as bad as it could have been. We actually started off looking like we might get a little momentum in the right direction and then inflation reared it's ugly face again. We get inflation numbers each month but there is also a quarterly report...last week we got both. The quarterly numbers were higher than expected and that had the typical impact on rates pushing them sharply higher. The monthly numbers then came in on Friday and were basically in line with expectations, that sort of calmed the storm and was at least enough to bring rates back down a little bit. Call me with questions and have a wonderful week!

Chad McDowell
Loan Officer NMLS #172223
[email protected]
615-584-7828

Good morning! Interest rates were flat last week and considering how it's been recently, we'll take that as a win. It has been a rough ride for rates lately, we've seen them move quickly back up to the highest point in months. The Fed has backed off their previous comments that we could see multiple rate cuts this year going as far as to say that there is no longer any certainty that the Fed will be able to cut rates at all in 2024. It felt like things were moving in the right direction for a while but the recent economic data hasn't been interest rate friendly at all! Call me with questions and have a wonderful week!

Chad McDowell
Loan Officer NMLS #172223
[email protected]
615-584-7828

Good morning! Yikes, it was a rough week for mortgage rates. Wednesday was one of the worst single-day increases in over a decade and Thursday was kind enough to pile on a little extra. The culprit once again was inflation data although the reaction seemed a little excessive. The inflation report that came out Wednesday morning showed inflation numbers were slightly higher than expected but the resulting sell off of bonds (which impacts mortgage rates) was pretty extreme! Inflation has been the primary driver of the higher rates and until that comes down we're unlikely to see any significant drop in rates. Call me with questions and have a wonderful week!

Chad McDowell
Loan Officer NMLS #172223
[email protected]
615-584-7828

Good morning! Interest rates were up last week although they do continue to move in a pretty tight range. The two data points that have had the most impact on interest rates lately have been the jobs numbers and inflation numbers. Last week we got a new jobs report which came in better than expected, initially that pushed rates up but not as much as we'd have thought and even then we saw rates trickle back down as the week went on. We'll get more inflation data this week and that always has the potential to move markets but seemingly more so now than ever. Call me with questions and have a wonderful week!

Chad McDowell
Loan Officer NMLS #172223
[email protected]
615-584-7828

Good morning! Well, it was a short and completely uneventful week for interest rates. On Friday I saw different headlines such as "A Record Setting Week For Boredom" and "Historically Un-Volatile Week", that pretty much sums it up. This coming week is likely to be a little different, we've already seen more rate movement in the hour that markets have been open this morning than we've seen in the last two weeks combined. That is partially in response to some better-than-expected manufacturing data but also likely is some prediction and positioning ahead of Friday's jobs numbers. The jobs report always has the potential to move rates but lately it feels like the only things the markets care about are the job and inflation numbers. Call me with questions and have a wonderful week!

Chad McDowell
Loan Officer NMLS #172223
[email protected]
615-584-7828

Good morning! Last week was a pretty good one for mortgage rates. They continue to move up and down in a fairly small range but this is the lowest we've seen in the last couple of weeks. Rates have been mostly influenced by inflation and jobs numbers lately and we won't get any additional data on either for nearly two weeks. There is always a possibility of something unexpected moving the markets but barring that, it seems likely that we'll stay in this small range for a little while. Call me with questions and have a wonderful week!

Chad McDowell
Loan Officer NMLS #172223
[email protected]
615-584-7828

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Good morning! It was a pretty rough week for mortgage rates and while reaction could have been worse, we are back to the worst levels of the month so far. The big reason was inflation again. For a while it looked like this had slowed to a pace that the Fed, and markets, were going to be happy with but the numbers have continued to rise at too fast of a pace. Inflation has been the primary driver of the increased interest rates over the last couple of years. It devalues the bond market and other long-term fixed rate investments and pushes those rates higher. There is still a strong likelihood for lower rates in the future but that future will keep getting pushed farther out if inflation numbers don't come down. Call me with questions and have a wonderful week!

Chad McDowell
Loan Officer NMLS #172223
[email protected]
615-584-7828

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Good morning! It was a pretty good week for interest rates and they ended up lower than where they started for the first time in a while. Rates have been moving in a very narrow range for several weeks now. The lower rates from last week came at the expense of the jobs numbers. The high jobs report from the previous month was revised down to a significantly lower number. We also saw wage growth and unemployment numbers come in worse than expected. All signs pointing to a slowing economy and that typically is good news for mortgage rates. Tomorrow will likely have an impact as well, new inflation numbers will come out first thing in the morning and that will tell us more about whether or not we're seeing a slowdown. Markets have been reacting strongly to the inflation data. Call me with questions and have a wonderful week!

Chad McDowell
Loan Officer NMLS #172223
[email protected]
615-584-7828

Good morning! It was another flat week for interest rates. We saw a slow creep up early on but then got some relief on Thursday and Friday which resulted in the week ending exactly where it started. Most of the drop in rates was a reaction to some weak manufacturing data. That particular report doesn't prompt the same response as the inflation and job numbers, especially so lately, but there has been so much speculation about a recession for so long now, it seems like markets want to react to any sign of a weak economy. The weak economic news is generally good for mortgage rates, so we'll take it. Call me questions and have a wonderful week!

Chad McDowell
Loan Officer NMLS #172223
[email protected]
615-584-7828

Good morning! It was an uneventful week for mortgage rates. It was short and without a lot on the economic calendar. Even without much data to go off of, rates started the week moving up again but a strong Friday kept things flat overall. It's a bit enigmatic for interest rates right now. Most experts and investors still seem to feel as though the trend will be towards lower rates in the long-term but the downward momentum we had in December and early in January has certainly stalled. Call me with questions and have a wonderful week!

Chad McDowell
Loan Officer NMLS #172223
[email protected]
615-584-7828