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Rates Showing Signs of Improvement!

Hey there Vibers! Let's talk about mortgage rates, a topic that's been on everyone's mind lately. We've seen rates climb in recent months, creating some uncertainty for homebuyers. But there's good news on the horizon!


Yesterday brought a positive shift in the mortgage rate landscape. This movement is directly tied to the ever-evolving bond market, which reacts to economic data that influences the Federal Reserve's decisions.


Here's a breakdown of what caused the positive change:


  • S&P Purchasing Managers Index (PMI): This index acts as a real-time economic gauge. It surveys business leaders on current business conditions and future plans.

  • Lower Price Pressures: The April PMI data revealed a decrease in "price pressures." This indicates a softening in demand and a potential cool-down in the labor market, both factors that can influence inflation and, consequently, interest rates.

While the S&P PMI isn't as heavily weighted as the Institute for Supply Management (ISM) PMI data coming out next week, it created a positive ripple effect. The result? Mortgage rates dropped to their lowest point since April 12th!


What This Means for You:


  • Real Estate Agents: If you're an agent looking to empower your clients with the best mortgage options, reach out to me! Having a top-notch lending team by your side can make a huge difference in today's market.

  • Consumers:  If you're a buyer with questions about rates or the homebuying process in general, don't hesitate to connect!

The takeaway? There are positive signs for mortgage rates. This doesn't necessarily mean a free fall, but it suggests a potential for stabilization and even some downward movement.


Whether you're an agent seeking a trusted lending partner or a buyer navigating the mortgage landscape, I'm here to help. Let's chat and discuss how to make your real estate dreams a reality!


 

About the Author


Frank Garay is a distinguished figure in the mortgage industry, with a career that began in 1987 and spans several decades of exceptional service. He co-founded the National Real Estate Post in 2009, a video blog that quickly amassed over 250,000 subscribers, becoming a staple for real estate professionals nationwide. In 2010, Frank was honored as one of the Inman 100, marking him as one of the most influential people in real estate.


Frank's expertise has also been showcased on national television, where he has been a featured guest on the Fox News show "After the Bell." His insights on real estate and mortgage trends during these appearances have solidified his reputation as a trusted industry expert.


Currently, Frank leads Mortgage Masters of California, where his deep market knowledge continues to drive success. He also hosts the Loan Officer Breakfast Club, a thriving platform for mortgage originators to connect and learn.


If you have any real estate or mortgage needs, do not hesitate to reach out to Frank Garay. His vast experience and proven leadership make him an invaluable resource for navigating the complexities of the housing market. Connect with Frank for expert guidance and superior mortgage solutions.


Reach out to Frank Garay at 707-695-6313, for your real estate and mortgage needs and experience the difference that expert advice can make.


  • To schedule a quick Zoom call with Frank CLICK HERE.

  • To schedule a private First Time Home Buyer Class with Frank CLICK HERE.

  • Real Estate Agent and you want to be featured on the Vibe? CLICK HERE.

 

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