📢 Unveiling Last Week's Mortgage Market Moves

Good morning, real estate insiders! Welcome back to your exclusive peek behind the curtain with Insider Briefing by 1781 Lending. Let's rewind the tape and dive into the riveting saga of last week's mortgage market. Get ready to relive the highs, the lows, and everything in between.

📉 Market Musings: Yields Took a Dip, Then Rallied

Last week, the mortgage market was a swirling sea of intrigue, with yields riding near two-week lows before embarking on a sudden northward journey just hours before closing time. What triggered this abrupt about-face, you ask? It was none other than economic data, flexing its muscles with the Chicago PMI and Consumer Inflation Expectations leading the charge.

But as any seasoned insider knows, month-end trading is a wild card, and sure enough, we saw a bit of a pullback as monthly closing levels were marked at 1pm ET. However, fear not! Bonds and mortgage lenders took it all in stride, shrugging off the turbulence like it was just another day at the office. And while the entire week was a study in calm seas, don't rest on your laurels just yet. Next week promises to be a whole new ball game, with heavyweight economic data slated to make waves on four out of five days. Hold onto your hats!

📊 Econ Data Extravaganza: What You Needed to Know

Now, let's rewind and dissect the numbers that were making waves last week:

📈 Q4 Final GDP: We saw the final GDP numbers for Q4 come in at 3.4, surpassing the forecast of 3.2. Talk about ending the year on a high note! With a previous reading of 4.9, it's clear we were firing on all cylinders.

💰 PCE Prices: Prices ticked in at 2.0, just shy of the forecast of 2.1. But hey, close enough for government work, right?

📉 Final Sales: Sales figures painted a picture of strength, coming in at 3.9 compared to the forecasted 3.5. The economy was clearly flexing its muscles in the home stretch of the quarter.

📉 Jobless Claims: The job market continued to show its resilience, with jobless claims clocking in at 210k, beating the forecast of 215k. Plus, with continued claims at 1819k, it was clear folks were finding their feet and staying put.

🌆 Chicago PMI: Here's where things got interesting. The Chicago PMI fell short of expectations, coming in at 41.4 compared to the forecasted 46.0. But hey, nobody's perfect, right? It's all part of the dance.

That's a wrap for last week's Insider Briefing, folks. Stay tuned for more exclusive insights, and remember: knowledge is power in the fast-paced world of real estate. Until next time, keep your finger on the pulse and your eyes on the prize! 📰🏠