Randy Lynch- Loan Originator NMLS # 330369

End of week .. end of month. Yes, the Fed bumped by 0.25% this week. Totally expected. The good news is that Mortgage Backed Securities and the 10 year Treasury improved afterwards. Kind of like .. OK.. that's the worst they could do and we expected it. Watch the turmoil in Italy and how if impacts Europe and the World in the next few days. Their t yields are up and their stock market down Guess there's more going in Europe than the Ryder Cup, huh? Rates are holding f...airly steady now. Still a good time to buy. Housing prices are still going up, though not as large as we've experienced the last few years. Inventory is balancing and the number of sales are off recent pace. Let me know if we can help you. More and more folks are using the Reverse Mortgage option for those over 62 to either help purchase the "move down" home or stay in the one they have. Need more info? Give me a shout. See more

A Few Surprises in Today's Jobs Report New job creation was expected to be about 195,000. It came in at 213,000. The biggest surprise was there was NO Wage Inflation. Why? Because there were reportedly 600,000 new job seekers. This explains how the Unemployment Rate moved up from 3.8% to 4% while more people found work. The "Street" took this as good news. No wage bump means lower inflation and the Bond market likes that! There is still little doubt the Fed will raise... the discount rate again but more are saying "1 and done." That 2nd bump is coming .. but maybe not as soon as anticipated. Rates are holding steady for now. Appears the "Tariff Tiffs" (as 1 analyst put it ... I like that better than Tariff Wars, by the way) are acting to hold things down from a rate perspective. A word of caution: The Fed continues to reverse the Economic Stimulus of recent years. As they reduce yet again their "buy backs," watch out for a rate increase this month when that becomes more public. It's been a pattern now for sometime. Still appears to be a very good time to buy real estate when you look at it from a "cost of waiting" standpoint. Let me know if I can help you in any way. Best to talk to your Lender 1st BEFORE going house hunting. See more

"If your paycheck depends on the weather and the clock." Garth Brooks. Job growth plunged in September due to Hurricanes Harvey and Irma. The Labor Department reported that payroll growth declined by 33,000 jobs versus the 75,000 increase in new jobs expected. July job growth was revised lower by 51,000 to 138,000, while August was revised higher by 13,000 to 169,000 new jobs. This was the first negative reading in seven years, but the numbers will most likely reverse higher... in the coming months as Americans rebuild after the devastation in the hurricane-impacted areas. All was not lost within the report, though. Hourly earnings surged by 0.5 percent from August to September versus the 0.2 percent expected. Earnings are up 2.9 percent year over year. In addition, the Unemployment Rate fell to 4.2 percent, the lowest level in 16 years. Home prices continued to heat up right through summer. Data analytics firm CoreLogic reported that home prices, including distressed sales, rose 6.9 percent from August 2016 to August 2017, up from a gain of 6.7 percent annually in July. On a monthly basis, prices rose 0.9 percent from July to August. Looking ahead, prices are expected to rise 4.7 percent from August 2017 to August 2018. At this time, home loan rates remain historically attractive. If you or someone you know has questions about home financing or home loan rates please contact me. I'd be happy to help. Thanks to our friends at Mortgage Market Guide for this information.