The Definition of Goldilocks

November 18, 2019

Last Week in Review: The Definition of Goldilocks

"Looking ahead, my colleagues and I see a sustained expansion of economic activity, a strong labor market, and inflation near our symmetric 2% objective as most likely." -- Fed Chairman Jerome Powell, 11/13/2019

This quote from our Fed Chair on Capitol Hill this past week was the definition of a "Goldilocks Economy" and reaffirmed the markets that there is no recession in sight!

Thanks to this strong economic backdrop, Mr. Powell also said it's highly unlikely the Fed will cut rates again in December. Remember, Fed rate cuts don't affect home loan rates, so don't expect a sharp uptick in mortgage rates. Why?

As the Fed's quote states, inflation remains low and near the Fed's target. If inflation moves higher, home loan rates move higher. The opposite is also true.

Bottom line: home loan rates improved from the worst levels of the week and head into mid-November still hovering near three-year lows. What an opportunity when coupled with the Goldilocks backdrop.

Government Agency Approvals

FHA Non-Supervised Mortgagee Approval #:
24751-0000-5
VA Automatic Lender Approval #:
902324-00-00

Mortgagee/Loss Payee Clause

Carrington Mortgage Services LLC
ISAOA/ATIMA
P.O. Box 692408
San Antonio, TX 78269-2408

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This information is provided for your convenience and Carrington Mortgage Services, LLC makes no warranties concerning the accuracy or completeness of any of the information. This is not financial or legal advice and should not be taken as such. This information is for mortgage professionals only and is not intended for distribution to consumers.
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Government Agency Approval | FHA Non-Supervised Mortgage Approval #: 24751-0000-5 | VA Automatic Lender Approval #: 902324-00-00

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