Tradition Mortgage

Inflation data from last week matched up closely with expectations. Erik Hendrikson, President of Tradition Mortgage, mentioned rates may see some short term influence from the stock market & long term influence from record high credit card delinquencies. #WeCareAndWeClose

With the Presidential election over, the focus reverts back to inflation. Both CPI & PPI are front & center this week. Erik Hendrikson, President of Tradition Mortgage, says new administration policies & their effects on the bond market will be key over the next few months.

The October US Non-Farm Payroll Report (NFP) missed badly to the low side. Erik Hendrikson, President of Tradition Mortgage, says this would normally create a rally but with the Presidential Election & Fed meeting this week it appears as if the markets are in "wait & see" mode.

Employment numbers are the focus once again with the Non-Farm Payroll Report (NFP) due out this week. Erik Hendrikson, President of Tradition Mortgage, says other "mortgage rate movers" could be job number revisions from last month & election results.

Economic reports are showing the economy to be moving along at an unexpectedly strong pace. Erik Hendrikson, President of Tradition Mortgage, says that these reports along with low levels of unemployment claims are what is pushing bond yields and mortgage rates back up recently.

The mortgage rally was stalled by hot September job numbers. Inflation is still a factor and the Fed says employment will continue to be considered. Erik Hendrikson, President of Tradition Mortgage, says the early November Non-farm Payroll Report will be key. #WeCareAndWeClose

Strong job numbers last week assuaged some Fed concerns over a weakening job market. Erik Hendrikson, President of Tradition Mortgage, says this puts eyes back on inflation with the CPI (Consumer Price Index) and PPI (Producer Price Index) coming out this week. #WeCareAndWeClose

Jobs, Jobs, Jobs!! This week the focus is on job reports. Erik Hendrikson, President of Tradition Mortgage, outlines the 4 upcoming employment reports that could move the mortgage rate needle. #WeCareAndWeClose

The Fed made a rate cut of 50-basis points but any improvement to mortgage rates & bond yields had manifested itself in the past few weeks. Erik Hendrikson, President of Tradition Mortgage, says all eyes will be on inflation and employment reports for the foreseeable future.

This week features the Federal Reserve meeting & an anticipated rate cut of a quarter point. Erik Hendrikson, President of Tradition Mortgage, says that cut is already "baked into the cake" as it relates to mortgage rates, but keep an eye on the Feds comments just the same.