Jobless Claims Archives - Page 17 of 87

Recent economic data brought significant relief, with both the CPI and PPI indicating that inflation was running cooler than expected. In the context of the current administration, this was welcome news, helping to ease concerns about potential monetary policy changes. The Federal Reserve has very frequently signaled they will follow the data and this time it was a positive result towards reducing rates further this year. The change in administration, however, still remains unknown and there is a lot of unrest across lending partners and markets alike. This was also followed by a better than expected Retail Sales report which has shown 2025 to start off with some economic momentum. Both reports are critical factors in shaping future rate adjustments. Despite this, lending partners have been raising rates in the last few months, driven largely by uncertainty tied to the transition of administrative positions.

Consumer Price Index

The increase in the core rate in the last 12 months dipped to 3.2% from 3.3%. But that still leaves it well above the Fed’s goal of 2% inflation. Meanwhile, overall consumer prices showed a sharper 0.4% increase largely because of higher food and energy prices. Those prices are expected to taper off in January.

Producer Price Index

Producer-price index rises just half as much as forecast. The producer-price index, where the seeds of inflation are planted, rose a mild 0.2% last month, the government said Tuesday. Wall Street had predicted an increase double that size.

Retail Sales

Retail sales grew steadily in December 2024, rounding out a strong holiday shopping season and signaling that the economy entered the new year with solid momentum. According to government data released Thursday, sales at U.S. retailers rose by a seasonally adjusted 0.4%, slightly below Wall Street’s expectations.

Primary Mortgage Market Survey Index

• 15-Yr FRM rates saw an increase of 0.13% with the current rate at 6.27%
• 30-Yr FRM rates saw an increase of 0.11% with the current rate at 7.04%

MND Rate Index

• 30-Yr FHA rates saw a decrease of -0.08% for this week. Current rates at 6.47%
• 30-Yr VA rates saw a decrease of -0.09% for this week. Current rates at 6.48%

Jobless Claims

Initial Claims were reported to be 217,000 compared to the expected claims of 210,000. The prior week landed at 203,000.

What’s Ahead

We should expect the Manufacturing PMI preliminary this week, as well as the University of Michigan’s Consumer Sentiment report. Given the bank holiday from Martin Luther King, there is a relatively light release schedule otherwise.

Lee Vanvolkenburg

15:43 23 Nov 23

Michael and his team were wonderful to deal with. They were excellent with communication and always available to answer questions. Thank you all!

williams lovos

22:54 16 Nov 23

We close on the house tomorrow! Thank you David and Michael for making my first home buying a smooth process. I had several out of the ordinary situations that would had easily not been possible to get the loan in the time that they were able to approve it. My wife and I are forever grateful for the work the team did. Thank you again!

Mario Silvestri III

16:45 16 Nov 23

Rex Perkins

16:56 15 Nov 23

Everything had been going well over the past two years since refinancing an existing mortgage. The application process, approval, servicing website, everything had been very smooth, nothing but the best service. I then had a minor issue arise. We had a wind loss claim on our home and, unfortunately, I had put off getting the check cosigned until the last minute. An issue arose as part of a minor miscommunication in terms of where the check was to be forwarded for endorsement.To make a long story short, I feared that this miscommunication and misdirected check coupled with my procrastination were going to result in the check expiring and a huge hassle on my part to go through the process again. Mr. Inkman nor his branch were in any way involved with my account or account management, yet, the check inadvertently ended up in their draft loss department and I feared this would further delay things. I was a bit frantic.One of those that I emailed was Mr. Inkman. In an era when customer service is not as valued as in the past, I was very skeptical I would meet the deadline. But, to my surprise, Mr. Inkman took it on his own to personally get things done and get the issue resolved. It appears that he tracked down the overnighted check personally, directed it for signature, packaged and overnighted the check back to me. All the while remaining professional and pleasant and providing consistent email updates on the status. It doesn't even look like he delegated, rather taking the initiative and seeing it through on his own.To me, that's not just doing a job, that's going above and beyond in terms of leadership, professionalism, and customer service. We could not be more happy. And, as a further sign of good will, the Fairway CEO actually emailed me personally to follow-up and assure resolution. Been very happy with Fairway since my refinance, Mr. Inkman's efforts only further reinforce that opinion.

Samer Fallouh

15:01 15 Nov 23

Debbie Salas

21:47 03 Oct 23

This transaction probably would not have happened without Michael. Whenever we hit a stumbling block, he found a way around it! He kept us informed and was a positive light all the way through to the end and beyond.Thanks

Eric Kieffer

22:46 16 Aug 23

Did business with Michael about 20 years ago and he was happy to help us again. He and his team did a great job. See you in another 20.

What’s Ahead For Mortgage Rates This Week – January 21st, 2025

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