Mortgage Update: May 11

“Not so great news" is good news for the mortgage industry, for interest rates, and for the housing market. 

• The Producer Price Index came in a little bit lighter than expected.

• Jobless claims came in a little bit more than expected. 

• Americans collecting unemployment rose a little bit this week. 

So, what does all that mean? It means everything is slowing... the economy is slowing. Inflation stayed about steady to down, depending on how you categorize it. All of this means continued "flight to quality," which is money coming out of the stock market into the bond market. This is driving interest rates down a little bit each and every day. 

If you are getting pre-approved or if you're signing purchase agreements as of today, you will see a little bit of an improvement in rates, which is great. 

Whether you're buying a home (for the first, second or third time!), selling a home, or looking into bridge loans. We'd love to help. 

Please email mortgages@johnadamsmortgage.com.