The most impactful report released last week was the regular Consumer Sentiment reports, which have indicated the more recent concerns rising food costs have soured the view on the current state of the economy for the U.S. The talks between the Federal Reserve members have also slanted in a negative direction as they feel they still do not have a strong grip on inflation. With the Trump administration also shaking things up in the office with their views on Tariffs, the land lending and broader markets have seen a lot of turmoil and uncertainty about the future. There should be dampened expectations going forward across all markets.
Consumer Sentiment
Consumer sentiment sours as worries grow over the outlook for the U.S. economy. Confidence drops 10% from January to the lowest level since late 2023. The second of two readings of consumer sentiment in February slipped to 64.7 from 67.8 earlier in the month, the University of Michigan said Friday. It’s the lowest level since November 2023. Sentiment has fallen nearly 10% from January.
Primary Mortgage Market Survey Index
• 15-Yr FRM rates saw a decrease of -0.05% with the current rate at 6.04%
• 30-Yr FRM rates saw a decrease of -0.02% with the current rate at 6.85%
MND Rate Index
• 30-Yr FHA rates saw a decrease of -0.08% for this week. Current rates at 6.25%
• 30-Yr VA rates saw a decrease of -0.07% for this week. Current rates at 6.28%
Jobless Claims
Initial Claims were reported to be 219,000 compared to the expected claims of 215,000. The prior week landed at 214,000.
What’s Ahead
The PCE Index inflation report, the Federal Reserve’s preferred measure for assessing inflation, will be released the following week. The overall outlook remains largely hawkish and pessimistic.
One of the most important overlooked form of insurance for homeowners is Flood Insurance. Flood damage is not covered on a typical homeowners insurance policy. Although sometimes FEMA (the Federal Emergency Management Agency) provides help for victims of flood damage, it does not provide coverage for personal property, and is often defined as a loan and must be repaid.
Crafting a counter-offer that doesn’t scare away a potential home buyer can be tricky. You want to maximize your sale price while still keeping the deal attractive enough for the buyer to stay engaged. A well-crafted counter-offer strikes a balance between protecting your interests and meeting the buyer’s needs. The key is to approach negotiations strategically, ensuring that your counter doesn’t feel like a rejection but rather a step toward a mutually beneficial agreement. Here are five tips to help you through the process while keeping the buyer interested:
With the cost of everything rising, homeowners are looking for ways to save wherever they can. One expense that often gets overlooked is homeowners insurance. While it is essential to protect your investment, there are ways to lower your premiums without sacrificing coverage. Here are some strategies to help you secure quality insurance at a fair price.
The major inflation data reports have been released, and the initial readings indicate that inflation has exceeded expectations. While the data suggests that the Federal Reserve is unlikely to allow any further rate cuts beyond those already implemented, optimism remains in the broader lending markets. This optimism is driven by expectations that the new administration may introduce changes to monetary policy in the longer term. Although inflation has come in higher than expected, it remains to be seen what next week’s PCE Index—the Federal Reserve’s preferred inflation indicator—will reveal.
Presidents’ Day is a time to reflect on leadership, vision, and the pursuit of big goals. Throughout history, homeownership has been a key part of the American Dream, a foundation for stability, growth, and opportunity.
Moving to a new home can be an exciting yet stressful experience—not just for you, but for your pets as well. Animals thrive on routine and familiarity, so a new environment can be overwhelming. Whether you have a dog, cat, rabbit, bird, or other pet, here are some essential tips to help them adjust smoothly and feel at home in their new surroundings.
Paying your income taxes each year leaves your wallet a bit thin? There may be money hiding in your home that lessens your tax burden. Here are four places to look:
Your home should be a place of comfort and safety, but hidden dangers can pose serious risks to you and your family. Identifying and addressing these hazards is essential to maintaining a secure living environment. Here are some of the most common household dangers and how to prevent them.
When you’re working with a realtor, it’s easy to feel like you need to impress us with how much you know or worry that we’re judging your choices. Let me set the record straight—there are a lot of things I truly don’t care about. My focus is on helping you achieve your real estate goals, no matter where you’re starting from.