Fortem Loans

📊💼 July Jobs Report Summary 💼📊

📉 Jobs Created: Only 114,000 jobs in July, well below the estimated 185,000.

🔄 Revisions: June was revised from 218,000 to 216,000, and May from 206,000 to 179,000. The Birth/Death model added 246,000 jobs, masking potential job losses.

🏛️ Sector Gains: Healthcare and Education (+57K), Leisure and Hospitality (+23K). Majority of gains from non-economically sensitive sectors.

💰 Wages: Average hourly earnings rose 0.2% (below 0.3% estimate), and fell year-over-year from 3.8% to 3.6%.

📉 Unemployment Rate: Increased to 4.3%, the highest since October 2021. The U-6 rate rose to 7.8%.

📈 Recession Signal: The Sahm Rule is close to being triggered with a 3-month average unemployment rate of 4.13%. If it reaches 4.2%, recession is confirmed.

💡 Inflation Insights: Truflation data shows year-over-year inflation at 1.5%, compared to CPI (3%) and PCE (2.5%), with shelter costs as a key discrepancy.

🏠 Mortgage Rates: Likely to remain stable or decrease slightly due to economic uncertainty and rising unemployment rates.

Stay informed with Fortem Loans for your financing needs! ✨

📢 Fed Meeting Update: Impact on Mortgage Rates! 📢

The Federal Reserve has left rates unchanged, unanimously. 🏦

🔮 Key Updates:
- Employment & Inflation: Risk to goals continued to move into better balance.
- Inflation Progress: Modest progress toward 2% inflation objective; inflation has eased but remains somewhat elevated.
- Labor Market: Job gains have moderated, and the unemployment rate has moved up but remains low.

🗣️ Chairman Powell:
Described the current stance as a cautious approach, noting declines in wages and consumer spending growth. Hinted at potential rate cuts in September if inflation data remains stable.

🧐 What This Means for Mortgage Rates? 🧐
With the Fed's cautious stance and ongoing inflation concerns, mortgage rates might stay elevated. However, a series of rate cuts could be on the horizon if positive economic data continues.

Follow us for the market updates that keep you in the know!

Start your home search on the right foot! Discover why a mortgage pre-approval is your secret weapon.

Reach out to us today to get started! ? 760.206.8500

? Beat the summer heat by transforming your backyard into a refreshing oasis! Here are 4 essential tips to create your ideal outdoor retreat:

1️⃣ Install shade structures like pergolas or umbrellas for relief from the sun.
2️⃣ Incorporate outdoor misting systems to cool down your patio or deck.
3️⃣ Arrange comfortable seating areas with weather-resistant furniture and cushions.
4️⃣ Add ambient lighting with string lights or lanterns for cozy evenings outdoors.

Turn your backyard into a sanctuary with Fortem Loans! ? We can assist with financing options to make your dream a reality! ✨

🚨 Economic Update 📊
🔍 Personal Consumption Expenditures (PCE) Report | June Inflation Insights:

🔹 Headline Inflation: Rose 0.1% in June, matching estimates. Year-over-year, it dipped from 2.6% to 2.5%. Energy costs fell by 1%, contributing to this low headline figure.

📉 Core Inflation: Excluding food and energy, core inflation rose by 0.2%, hotter than expected. Year-over-year, it remained at 2.6%.

🏠 Shelter Costs: Increased by 0.27% in June, an improvement from May’s 0.42%. Year-over-year, shelter costs rose by 5.35%, down from 5.54%. Rent and owners' equivalent rent also saw declines.

💰 Consumer Behavior: Incomes rose by 0.2%, half of what was expected. Consumer spending increased by 0.3%, in line with estimates. The savings rate fell from 3.5% to 3.4%, the lowest since November 2022.

🔍 Bottom Line: The PCE report shows decent inflation figures but mixed results overall. The market is reacting positively, and a September rate cut by the Fed is still likely.

? Hot off the Press is the latest edition of The Fortem Report ?

Dreaming of owning your own home?
?? Every Thursday, we're delivering valuable insights, expert tips, and exclusive mortgage deals straight to your inbox! ?✨

? Why Sign Up?
Stay informed on current market trends ?
Insider tips for a smooth mortgage journey ?

✍️ How to Subscribe:
Click the ? link in our bio
Look for the "The Fortem Report" button
Enter your email and get ready for homeownership success! ?

🔍 True or False: Your credit score doesn't matter as long as you have a large down payment? False!

Your credit score plays a crucial role in mortgage approvals. Let's talk about how we can help you navigate the right path to homeownership.

Contact us today! 760.206.8500 📞

🏡✨ Tips Tuesday: Creating Your Dream Home Features List 🌟

Ready to plan your dream home? Here are 3 tips to help you create the perfect features list:

✅ Prioritize Essentials: Focus on must-have features like bedrooms, bathrooms, and a spacious kitchen.

✅ Consider Future Needs: Think about your long-term plans and how your home should accommodate them, such as extra space for a growing family or a home office.

✅ Budget Wisely: Balance your wishlist with your budget. Decide which features are worth the investment and where you can save.

Having a clear vision of your dream home features will make the home buying process smoother. For personalized advice, contact us at Fortem Loans. 📞 We're here to help!

🌞 Living in the Coachella Valley means preparing for scorching summers.
Here are 4 must-do tips to keep your home cool:
1️⃣ Install energy-efficient window shades or films to block out heat.
2️⃣ Use ceiling fans to circulate air and create a cooling breeze.
3️⃣ Schedule regular maintenance for your AC unit to ensure it runs efficiently.
4️⃣ Optimize insulation to keep cool air in and hot air out.

Stay cool and enjoy your oasis in the desert with Fortem Loans! 🏜️🏡

🔔 Reminder: Your credit score plays a crucial role in your mortgage application. A higher score can lead to better rates and terms. Check your score regularly and take steps to improve it if needed. Need advice on boosting your credit? Contact Fortem Loans today! 📈🏡

🏦✨ Financial Friday: Tips to Build Your Emergency Fund! 💡

Having an emergency fund is crucial for unexpected expenses and financial peace of mind. Here are 3 tips to help you build your fund:

1️⃣ Set a Goal: Aim to save enough to cover 3-6 months of living expenses.
2️⃣ Automate Your Savings: Schedule automatic transfers to make saving easier.
3️⃣ Cut Unnecessary Expenses: Identify and reduce non-essential spending to boost your savings.

Take charge of your financial future and start building your emergency fund today! 🌟 Give us a call today, and let's embark on this financial empowerment journey together. 📞💼 760.206.8500

🌟 Hot off the Press is the latest edition of The Fortem Report 🌟

Dreaming of owning your own home?
🏡💭 Every Thursday, we're delivering valuable insights, expert tips, and exclusive mortgage deals straight to your inbox! 📬✨

🚀 Why Sign Up?
Stay informed on current market trends 📈
Insider tips for a smooth mortgage journey 💼

✍️ How to Subscribe:
Click the 🔗 link in our bio
Look for the "The Fortem Report" button
Enter your email and get ready for homeownership success! 🎉

🏡💭 Are you ready to become a homeowner? 🌟 Whether you’re saying, 'Of course!' or 'I need help,' Fortem Loans guides you every step of the way. Let's make your dream of homeownership a reality!

📞 For personalized advice, contact us at Fortem Loans. We're here to help!

🏡✨ Tips Tuesday: Understanding Closing Costs 📚

Closing costs are an important part of the home buying process. Here are 3 tips to help you navigate and prepare for these expenses:

✅ Know What's Included: Fees for appraisal, title search, and credit report are common.

✅ Budget Accordingly: Typically, closing costs range from 2% to 5% of the loan amount. Plan ahead to avoid surprises.

✅ Negotiate When Possible: Some costs are negotiable. See if there's room for negotiation and if you can cover some costs.

Understanding closing costs can make your home buying journey smoother.

For more personalized advice, contact us at Fortem Loans. 📞 760.206.8500

We're here to help!

🌞Summer is here! Don’t forget to maintain your home's peak performance with these essential tasks:
1️⃣ Clean and inspect desert-friendly landscaping for optimal water efficiency.
2️⃣ Schedule a professional HVAC checkup to ensure it's ready for the heat.
3️⃣ Seal windows and doors to keep cool air in and dust out.
4️⃣ Clean and maintain outdoor misting systems for refreshing outdoor spaces.
5️⃣ Monitor pool equipment to keep it running efficiently during peak season.

Stay ahead and enjoy a worry-free season with Fortem Loans by your side! 🏡✨

🏡 Think you need 20% down to buy a home? Think again!

With various loan options, you can become a homeowner with as little as 3% down.

Ready to learn more? Reach out to Fortem Loans today and let's make your homeownership dreams a reality! 🌟💼 760.206.8500

🌟 Financial Friday: Did You Know? 💡 Understanding your Debt-to-Income Ratio (DTI) is crucial for mortgage approvals!

Your Debt-To-Income Ratio (DTI) is a key factor lenders consider. Here are 3 things you can do to manage your DTI:

1️⃣ Calculate Your DTI: Know where you stand by adding up your monthly debts and dividing by your gross income.
2️⃣ Increase Your Income: Boost your earnings through a side job or negotiating a raise.
3️⃣ Pay Down Debt: Focus on reducing high-interest debts to lower your DTI.

Manage your DTI and take a step closer to getting approved for your dream home! 🏠💪

Ready to explore your options? Let’s chat! 💼🌟Give us a call today, and let's embark on this financial empowerment journey together. 📞💼 760.206.8500

📢 CPI Update: What It Means for Mortgage Rates! 📢

The June Consumer Price Index (CPI) report is out! Here's a quick summary:

📉 Monthly Inflation Rate: Dipped 0.1% from May, marking the first decrease since May 2020.

📅 12-Month Rate: Now at 3%, the lowest in over three years.

🏠 Core CPI (Excluding Food & Energy): Up 0.1% monthly, 3.3% annually, the smallest annual increase since April 2021.

⛽ Gasoline Prices: Fell 3.8%, balancing 0.2% rises in food & shelter costs.

📉 Used Vehicle Prices: Decreased 1.5% monthly, down 10.1% annually.

🔮 Fed Rate Cuts: Increased likelihood for September rate cut, with multiple cuts predicted by year-end.

💼 Jobless Claims: Fell to 222,000, the lowest since June 1.

🏡 Impact on Mortgage Rates: Lower inflation and potential Fed rate cuts could lead to lower mortgage rates, making home financing more affordable!

Stay informed, stay ahead! Contact us with any questions today!

🏡✨ Home is where your story begins. At Fortem Loans, we're here to help you start that chapter with confidence and ease. Reach out today and let’s write your homeownership story together!

💡 Tips Tuesday: ✨ Boost Your Credit Score for a Better Mortgage Rate! 📈

Your credit score plays a crucial role in securing a favorable mortgage rate. Here are 3 things you can do to help improve your score:

1️⃣ Pay Your Bills on Time: Timely payments can significantly impact your score.
2️⃣ Reduce Your Debt: Lower credit card balances and manage debt wisely.
3️⃣ Check Your Credit Report: Ensure your report is accurate and dispute any errors.

Take these steps to improve your credit score and move one step closer to your dream home! 🏠 Give us a call today at 760.206.8500 to learn more 💪

📊💼 June Jobs Report Summary 💼📊

📈 Unemployment Rate: Increased to 4.1%, triggering the recession signal known as the Sahm Rule.

👷‍♂️ Jobs Created: 206,000 jobs in June, close to estimates.

🔄 Revisions: April and May saw big negative revisions, totaling a loss of 111,000 jobs.

🏛️ Sector Gains: Government (+70K) and Healthcare/Education (+82K) led the gains, while Leisure and Hospitality only added 7K jobs.

💰 Wages: Average hourly earnings rose by 0.3% month-over-month but decreased year-over-year from 4.1% to 3.9%.

⏰ Work Hours: Average weekly hours remained steady at 34.3.

The report hints at a possible recession ahead, with part-time jobs rising and full-time jobs declining.

🏠 Mortgage Rates: Likely to remain stable or decrease slightly due to the economic uncertainty indicated by the rising unemployment rate.

Stay informed with Fortem Loans for your financial needs! 💼✨

🌐 Mortgage Term of the Week: Zoning Map 🗺️🏠

Ever wondered about the layout of your neighborhood or the restrictions on your property? Enter the Zoning Map! 📍

A zoning map is a crucial tool used by local governments to designate specific areas for residential, commercial, industrial, or mixed-use purposes. Understanding your property's zoning can help you make informed decisions about renovations, expansions, or future developments. 🏡💼

Next time you're exploring your neighborhood, take a look at the zoning map to unlock insights about your community's planning and development! 🌟

Contact us today for expert guidance! 760.206.8500 📞🏠

🚨 Economic Update 📊 🔍 Personal Consumption Expenditures (PCE) Report | May Inflation Insights:

🔹 Headline Inflation: 0% in May, aligning with estimates. Year-over-year, it dipped from 2.7% to 2.6%, nearly rounding to 2.5% (actual: 2.56%). Energy costs fell by 1%, aiding this low headline figure.

📉 Core Inflation: Excluding food and energy, core inflation rose by 0.08% (rounded to 0.1%), in line with estimates. Year-over-year, it fell from 2.8% to 2.6% (actual: 2.57%).

🏠 Shelter Costs: Increased by 0.42% in May. Year-over-year, shelter costs rose by 5.5%, slightly down from 5.6%. Rent and owners' equivalent rent also saw minor declines.

💰 Consumer Behavior: Savings rate at 3.9%, below pre-pandemic levels. Consumer spending rose by 0.2% in May, missing estimates and showing signs of economic slowdown.

🔍 Bottom Line: Significant inflation progress in May, but further gains this year may be challenging. Consumer spending is weakening, pointing towards a potential economic slowdown.

Stay informed with Fortem Loans for more economic updates and how they impact your mortgage options! 💼🏡

🌟 Tips Tuesday Allies Series: Complete! 🎉🏡

We’ve covered it all! From finding your dream home to closing the deal, our Tips Tuesday Allies Series has been your guide through the home-buying journey. Let’s recap our incredible allies:

1️⃣ Realtor: Your trusted guide to the perfect property.
2️⃣ Loan Officer: Your financial advocate, helping you secure the best mortgage.
3️⃣ Inspector: The expert eye ensuring your future home is safe and sound.
4️⃣ Appraiser: Determining the true value of your investment.
5️⃣ Insurance: Protecting your new home and everything in it.
6️⃣ Processor: Keeping the paperwork moving smoothly behind the scenes.
7️⃣ Underwriter: Approving your loan and making homeownership dreams a reality.
8️⃣ Title: Guaranteeing a clear legal ownership of your property.
9️⃣ Escrow: Safeguarding funds and ensuring a seamless closing process.

A huge thank you to all our allies for their expertise and dedication to making your homeownership journey a success! 🏠💼

🤝 Ready to embark on your home-buying journey? Give us a call today at 760.206.8500

🏡 Mortgage Monday Tip: Avoiding Common Mistakes During the Mortgage Process 💡

Navigating the mortgage process can feel like a maze, but fear not! Here are some common pitfalls to steer clear of:

1️⃣ Skipping Pre-Approval: Don’t house hunt without knowing your budget. Get pre-approved to understand your purchasing power and streamline your search.

2️⃣ Neglecting Credit Health: Maintain good credit habits during the mortgage process. Avoid new credit applications or large purchases that could impact your credit score.

3️⃣ Misunderstanding Loan Terms: Take the time to understand your loan terms, including interest rates, fees, and prepayment penalties. Ask questions until you’re confident in your understanding.

4️⃣ Forgetting the Down Payment: Plan for your down payment and closing costs. Don’t overlook these essential expenses when budgeting for your new home.

5️⃣ Changing Financial Situations: Avoid major financial changes during the mortgage process, like changing jobs or opening new lines of credit. Stability is key.

Stay informed and avoid these common missteps to smooth your path to homeownership! 🛤️💼 Contact us today at 760.206.8500 to learn more 🏡

☀️ Protecting Your Home from the Sun: Window Treatments and Exterior Battle Points 🏡🌞

As summer heats up, it's crucial to safeguard your home from the sun's rays! 🌅 Here are some tips:

🪟 Window Treatments: Invest in sun-blocking window treatments like UV-resistant blinds or shades. Not only do they keep your home cooler, but they also protect furniture and flooring from sun damage.

🏠 Exterior Battle Points: Don't forget about your home's exterior! Ensure your roof, siding, and windows are properly sealed and insulated to keep the heat out. Consider light-colored paints or reflective coatings to minimize heat absorption.

🌿 Bonus Tip: Planting shade trees strategically around your home can provide natural sun protection and enhance curb appeal!

Protect your home and stay cool all summer long. ☀️😎

Follow us for more homeownership tips and mortgage advice! 🏡📈

📚 Mortgage Term of the Week: Yield 💰📈

Ever heard the term "yield" thrown around in mortgage discussions? Let's break it down! 💡

In the mortgage world, yield refers to the return on investment for a lender or investor. It's a measure of how much money they stand to make from a mortgage loan over its lifespan. Factors like interest rates, fees, and prepayment terms all influence the yield.

Understanding yield helps borrowers grasp the bigger picture of their mortgage and empowers them to make informed decisions. 🏡💼

Contact us today for expert guidance! 760.206.8500 📞🏠

🌟 Financial Friday: Did You Know? 💡

Did you know that mortgage rates fluctuate daily? 📉🏡

Mortgage rates are influenced by a variety of factors, including the bond market, economic conditions, and Federal Reserve policies. These fluctuations mean that the interest rate you see today might be different tomorrow!

Why it matters:
🔹 Timing is Key: Locking in a lower rate can save you thousands over the life of your mortgage.
Stay Informed: Keep an eye on rate trends and consult with your loan officer to determine the best time to secure your mortgage.
🔹 Understanding how mortgage rates work can help you make smarter financial decisions when buying a home. Stay informed and take advantage of the best rates available! 🏡💼

Give us a call today, and let's embark on this financial empowerment journey together. 📞💼 760.206.8500