Real Estate Jerky Daily

Mortgage pricing improved, oil prices moved lower, and markets turned their attention toward the Federal Reserve and a possible U.S.-Iran peace agreement.

In this episode of Real Estate Jerky Daily, Ed Parcaut explains why rates improved and why buyers should pay attention to more than just today's mortgage quote.

Ed recently saw a borrower's available rate improve by approximately one-quarter percentage point between the initial quote and the loan disclosure. That improvement shows how quickly mortgage pricing can change when oil, inflation expectations, Treasury yields, and geopolitical headlines shift.

The episode also covers the latest Mortgage Bankers Association application report. Overall mortgage application volume declined 3.8% for the week. Purchase applications fell 3.4%, while refinance applications dropped 4.5%.

Although refinance activity remained above last year's level, Ed explains that the numbers are still weak compared with periods when rates were substantially lower.

Retail sales offered a different signal. May sales increased 0.9%, beating expectations, while sales excluding automobiles rose 0.8%. Consumers are still spending despite concerns about affordability and household budgets.

Ed also discusses:

• Mortgage pricing improving during the morning
• The 10-year Treasury holding near 4.43%
• Oil settling below $80 per barrel
• Why lower oil may eventually reduce inflation pressure
• Falling purchase and refinance applications
• Stronger-than-expected retail sales
• Continued weakness in builder confidence
• The Federal Reserve's upcoming rate decision
• A possible U.S.-Iran peace agreement
• Reopening the Strait of Hormuz without tolls
• Why waiting for lower rates may create more buyer competition

The central message is to focus on the right property and overall financial strategy. Rates may improve, but lower borrowing costs can quickly bring more buyers back into the housing market.

Subscribe to Real Estate Jerky Daily for mortgage insight, housing-market updates, economic reports, and market news with teeth.

Contact and Social Links:

🔗 **Follow us:** - **Facebook:** [Real Estate Jerky](https://facebook.com/RealEstateJerky) - **Instagram:** [@RealEstateJerky](https://instagram.com/RealEstateJerky) - **Website:** [Real Estate Jerky](https://realestatejerky.com)

🔗 Ed Parcaut:

www.edparcaut.com - Twitter: [@EdParcaut](https://twitter.com/EdParcaut) - LinkedIn: [Ed Parcaut](https://www.linkedin.com/in/edparcaut)

Catch every episode for sharp insight and real talk about what matters now in real estate! #RealEstateJerkyDaily #EdParcaut #RealEstateJerky #MortgageRates #MortgageApplications #HousingMarketUpdate #RealEstatePodcast #MortgagePodcast #FederalReserve #FOMC #RetailSales #OilPrices #Inflation #TenYearTreasury #HomeBuyingTips #Refinance #HousingAffordability #HomebuyerCompetition #MortgageMarket #CaliforniaRealEstate #ModestoRealEstate #CentralValleyRealEstate #MarketNewsWithTeeth

Housing starts fell sharply in May, dropping to their lowest annualized pace since 2020. What could that mean for housing supply, home prices, buyer competition, and mortgage rates?

In this episode of Real Estate Jerky Daily, Ed Parcaut breaks down the latest housing construction and employment reports.

Building permits came in near expectations at approximately 1.4 million annualized units, but housing starts fell roughly 15% to an annualized pace near 1.18 million. Ed explains that the country needs significantly more new homes each year to keep up with household formation and population growth.

When construction slows, fewer new homes reach the market. If mortgage rates move lower and demand rises, buyers may find themselves competing for an even smaller supply of available properties.

Ed also covers:

• Mortgage pricing improving by approximately four basis points
• The 10-year Treasury near 4.44%
• Oil prices moving lower
• Why lower oil does not immediately erase inflation
• The Federal Reserve meeting
• A possible Middle East peace agreement
• The Strait of Hormuz reopening without tolls
• Weekly ADP job growth slowing
• Why some layoffs may not be related to artificial intelligence
• The buy-now-and-refinance-later strategy

The episode's central message is simple: rates can change, but the number of available homes may remain limited. Buyers should consider the entire market, not just the current interest rate.

Subscribe to Real Estate Jerky Daily for mortgage updates, housing data, economic insight, and real estate news with teeth.

Contact and Social Links:

🔗 **Follow us:** - **Facebook:** [Real Estate Jerky](https://facebook.com/RealEstateJerky) - **Instagram:** [@RealEstateJerky](https://instagram.com/RealEstateJerky) - **Website:** [Real Estate Jerky](https://realestatejerky.com)

🔗 Ed Parcaut:

www.edparcaut.com - Twitter: [@EdParcaut](https://twitter.com/EdParcaut) - LinkedIn: [Ed Parcaut](https://www.linkedin.com/in/edparcaut)

Catch every episode for sharp insight and real talk about what matters now in real estate! #RealEstateJerkyDaily #EdParcaut #RealEstateJerky #HousingStarts #BuildingPermits #HousingShortage #MortgageRates #FederalReserve #TenYearTreasury #HousingMarketUpdate #RealEstatePodcast #MortgagePodcast #HomeBuyingTips #NewHomeConstruction #HousingSupply #HomebuyerCompetition #ADPJobs #OilPrices #Inflation #BuyNowRefinanceLater #CaliforniaRealEstate #ModestoRealEstate #CentralValleyRealEstate

National housing inventory increased again, but homeowners are also holding a record amount of equity. What do those two numbers tell us about the direction of the real estate market?

In this episode of Real Estate Jerky Daily, Ed Parcaut examines the latest housing, mortgage, manufacturing, and builder-confidence reports.

National active inventory increased by more than 10,000 listings to approximately 816,924. The national median list price remained around $450,000, average market time held near 56 days, and price reductions climbed to approximately 37.93%.

Ed explains why rising inventory matters without automatically signaling a housing crash. Real estate remains highly local, and conditions can vary significantly depending on the city, neighborhood, price range, and property type.

The episode also covers the National Association of Home Builders Housing Market Index. Builder confidence declined to 35, current sales conditions weakened, expectations for the next six months remained below healthy levels, and buyer traffic stayed low.

Another major number in this episode is homeowner equity. Owner-occupied residential real estate reached an estimated value of $49 trillion. After subtracting approximately $14 trillion in mortgage debt, homeowners were left with roughly $35 trillion in equity.

Ed also reviews:

• Mortgage pricing improving by approximately 16 basis points
• The 10-year Treasury remaining near 4.46%
• Oil prices and their effect on inflation
• Cooling regional manufacturing activity
• The upcoming Federal Reserve meeting
• Housing starts and ADP employment reports
• Mortgage applications and pending home sales
• The decision to lock or float a mortgage rate

The key message is that buyers are still purchasing homes in neighborhoods where supply is limited. Inventory is rising, but desirable properties remain scarce in many local markets.

Subscribe to Real Estate Jerky Daily for housing-market updates, mortgage education, economic insight, and real estate news with teeth.

Contact and Social Links:

🔗 **Follow us:** - **Facebook:** [Real Estate Jerky](https://facebook.com/RealEstateJerky) - **Instagram:** [@RealEstateJerky](https://instagram.com/RealEstateJerky) - **Website:** [Real Estate Jerky](https://realestatejerky.com)

🔗 Ed Parcaut:

www.edparcaut.com - Twitter: [@EdParcaut](https://twitter.com/EdParcaut) - LinkedIn: [Ed Parcaut](https://www.linkedin.com/in/edparcaut)

Catch every episode for sharp insight and real talk about what matters now in real estate! #RealEstateJerkyDaily #EdParcaut #RealEstateJerky #RealEstatePodcast #MortgagePodcast #HousingMarketUpdate #HousingInventory #HomeEquity #MortgageRates #HomebuilderConfidence #BuilderSentiment #FederalReserve #PriceReductions #HomeBuyingTips #HomeSellingTips #RealEstateMarket #TenYearTreasury #Inflation #MortgageRateLock #ModestoRealEstate #CentralValleyRealEstate #CaliforniaRealEstate #MarketNewsWithTeeth

In this June 12 episode of Real Estate Jerky Daily, Ed Parcaut and Mike Kelly break down local housing activity, California market numbers, VA mortgage pricing, wage growth, and the economic reports that could move rates next week.

The local Stanislaus County market remained active, with closings increasing from earlier in the week and pending sales continuing to hold above 400. Ed and Mike also review California housing activity, including daily closings, pending transactions, days on market, and the percentage of sellers reducing their asking prices.

One of the most important mortgage topics in this episode is the difference between a VA loan within the conforming loan limit and a VA loan just above that threshold. Ed explains that crossing into jumbo VA pricing can create a significant rate difference. In one real-world scenario, a borrower could potentially contribute additional funds to stay below the limit and save close to half a percentage point on the interest rate.

Ed also covers the Atlanta Federal Reserve Wage Growth Tracker. Wage growth continued to slow for both employees staying in their current jobs and workers changing employers. The premium for switching jobs is now much smaller than it was a few years ago.

The episode concludes with a preview of next week's economic calendar, including industrial production, housing starts, ADP employment, mortgage applications, retail sales, pending home sales, jobless claims, and the Federal Reserve meeting.

Subscribe to Real Estate Jerky Daily for local market updates, mortgage education, VA loan insight, and economic news with teeth. #RealEstateJerkyDaily #EdParcaut #MikeKelly #RealEstateJerky #RealEstatePodcast #MortgagePodcast #VALoans #VAJumboLoan #MortgageRates #HousingMarketUpdate #StanislausCountyRealEstate #ModestoRealEstate #CentralValleyRealEstate #CaliforniaRealEstate #PendingSales #HomeClosings #PriceReductions #WageGrowth #FederalReserve #MarketNewsWithTeeth

Contact and Social Links:

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🔗 Ed Parcaut:

www.edparcaut.com - Twitter: [@EdParcaut](https://twitter.com/EdParcaut) - LinkedIn: [Ed Parcaut](https://www.linkedin.com/in/edparcaut)

Catch every episode for sharp insight and real talk about what matters now in real estate!

In this episode of Real Estate Jerky Daily, Ed Parcaut and Mike Kelly cover a packed Thursday market update featuring inflation data, jobless claims, mortgage rate movement, existing home sales, oil prices, and global uncertainty.

Ed starts with the market reaction, including the Dow moving higher, mortgage pricing improving by several basis points, and the 10-year Treasury sitting around the mid-4 percent range. Even with some improvement in mortgage pricing, Ed explains that rates are still being affected by inflation pressure, war headlines, oil prices, and broader market uncertainty.

The major economic report in this episode is the Producer Price Index, also known as PPI, which measures wholesale inflation. Headline PPI came in hotter than expected, while core PPI was closer to expectations. Ed and Mike discuss how energy and oil prices can influence the inflation conversation and why that matters for mortgage rates.

The episode also covers initial jobless claims, which came in higher than expected, along with continuing claims. Ed and Mike talk through what rising claims may suggest about the labor market and why employment data remains important to the housing and mortgage markets.

On the real estate side, Ed reviews existing home sales, which beat expectations and rose to an annualized pace above 4 million. The national median existing home price was also discussed, with Ed reminding listeners that national numbers are different from California and local Central Valley pricing.

The episode wraps with local Modesto talk, including Graffiti Weekend, the car show at MJC West, and the usual Ed and Mike humor.

Subscribe to Real Estate Jerky Daily for real estate updates, mortgage market insight, economic data, and market news with teeth.

Contact and Social Links:

🔗 **Follow us:** - **Facebook:** [Real Estate Jerky](https://facebook.com/RealEstateJerky) - **Instagram:** [@RealEstateJerky](https://instagram.com/RealEstateJerky) - **Website:** [Real Estate Jerky](https://realestatejerky.com)

🔗 Ed Parcaut:

www.edparcaut.com - Twitter: [@EdParcaut](https://twitter.com/EdParcaut) - LinkedIn: [Ed Parcaut](https://www.linkedin.com/in/edparcaut)

Catch every episode for sharp insight and real talk about what matters now in real estate! #RealEstateJerkyDaily #EdParcaut #MikeKelly #RealEstateJerky #RealEstatePodcast #MortgagePodcast #MortgageRates #PPIInflation #ProducerPriceIndex #CPIReport #JoblessClaims #ExistingHomeSales #HousingMarketUpdate #RealEstateMarket #TenYearTreasury #OilPrices #ModestoRealEstate #CentralValleyRealEstate #CaliforniaRealEstate #MarketNewsWithTeeth

In this episode of Real Estate Jerky Daily, Ed Parcaut and Mike Kelly return with a Tuesday market update covering local real estate numbers, national inventory, existing home sales, mortgage rates, employment data, and the economic reports buyers and sellers should be watching.

Mike starts with the May closing numbers, noting that Stanislaus County finished stronger than it looked earlier in the month, with 322 closings, 705 active listings, and pending sales still holding in the 400s. Ed and Mike explain why these local numbers matter for buyers, sellers, agents, and anyone trying to understand the Central Valley market.

Ed then moves into national housing inventory, which rose by more than 10,000 listings to just over 806,000. Even with inventory rising, Ed points out that the market is nowhere near the kind of massive weekly listing surge seen during the Great Recession. That means more inventory does not automatically equal a housing crash.

The episode also covers existing home sales, which increased in May, along with the national median existing home price, average days on market, and continued price reductions. Ed and Mike connect these numbers to the practical reality sellers face: pricing still matters, buyers are watching rates, and overpriced homes may need reductions.

On the economic side, Ed discusses small business optimism, ADP private sector job growth, the 10-year Treasury, mortgage pricing, and the upcoming CPI report. The conversation also touches on AI-related layoffs and how some companies may be using AI as a reason for workforce reductions, even when the actual impact may still be coming.

This episode brings together local real estate data, national housing trends, mortgage insight, employment numbers, inflation expectations, and classic Real Estate Jerky humor.

Subscribe to Real Estate Jerky Daily for market news, mortgage updates, and real estate conversations with Ed Parcaut and Mike Kelly.

Contact and Social Links:

🔗 **Follow us:** - **Facebook:** [Real Estate Jerky](https://facebook.com/RealEstateJerky) - **Instagram:** [@RealEstateJerky](https://instagram.com/RealEstateJerky) - **Website:** [Real Estate Jerky](https://realestatejerky.com)

🔗 Ed Parcaut:

www.edparcaut.com - Twitter: [@EdParcaut](https://twitter.com/EdParcaut) - LinkedIn: [Ed Parcaut](https://www.linkedin.com/in/edparcaut)

Catch every episode for sharp insight and real talk about what matters now in real estate! #RealEstateJerkyDaily #EdParcaut #MikeKelly #RealEstateJerky #RealEstatePodcast #MortgagePodcast #HousingMarketUpdate #MortgageRates #ExistingHomeSales #HousingInventory #RealEstateMarket #CPIReport #InflationReport #ADPJobsReport #SmallBusinessOptimism #StanislausCountyRealEstate #ModestoRealEstate #CentralValleyRealEstate #CaliforniaRealEstate #MarketNewsWithTeeth

n this episode of Real Estate Jerky Daily, Ed Parcaut and Mike Kelly cover the latest market signals affecting mortgage rates, real estate decisions, and buyer confidence.

The conversation starts with the market reaction to global ceasefire headlines, oil prices, the Dow, and the 10-year Treasury. Ed notes that mortgage pricing improved by several basis points while the 10-year Treasury remained in the mid-4 percent range, keeping rates front and center for buyers and borrowers.

Ed and Mike also discuss the Challenger Job Cut Report, which showed corporate layoffs increasing in May, along with initial jobless claims coming in above expectations. With the BLS jobs report coming next, the market is still waiting for a clearer signal on employment, inflation, and where rates may head next.

The episode also includes an important warning about wire fraud and AI voice cloning in real estate. Ed and Mike talk about the need for buyers, sellers, and families to have safeguards, including verbal confirmation and safe words, before trusting last-minute wiring instructions or urgent money requests.

This episode brings together economic data, mortgage rate movement, local real estate insight, and the classic Real Estate Jerky humor listeners expect from Ed and Mike.

Subscribe to Real Estate Jerky Daily for mortgage updates, real estate market talk, and straight conversations about what is really happening in the market.

Contact and Social Links:

🔗 **Follow us:** - **Facebook:** [Real Estate Jerky](https://facebook.com/RealEstateJerky) - **Instagram:** [@RealEstateJerky](https://instagram.com/RealEstateJerky) - **Website:** [Real Estate Jerky](https://realestatejerky.com)

🔗 Ed Parcaut:

www.edparcaut.com - Twitter: [@EdParcaut](https://twitter.com/EdParcaut) - LinkedIn: [Ed Parcaut](https://www.linkedin.com/in/edparcaut)

Catch every episode for sharp insight and real talk about what matters now in real estate! #RealEstateJerkyDaily #EdParcaut #MikeKelly #RealEstateJerky #RealEstatePodcast #MortgagePodcast #MortgageRates #HousingMarketUpdate #RealEstateMarket #JoblessClaims #CorporateLayoffs #TreasuryYields #BLSJobsReport #MortgageMarket #WireFraud #AIVoiceCloning #EscrowFraud #ModestoRealEstate #CentralValleyRealEstate #CaliforniaRealEstate

In this episode of Real Estate Jerky Daily, Ed Parcaut and Mike Kelly take a fast-moving look at the economic reports, mortgage rate signals, and local real estate numbers shaping the market.

The episode opens with Ed and Mike's usual banter before moving into the day's market activity, including a major move in the Dow, the 10-year Treasury sitting around the mid-4 percent range, and mortgage rates improving by several basis points. Ed also discusses how global events, oil movement, and market uncertainty can influence investor behavior and mortgage pricing.

The conversation then shifts into the Challenger Job Cut Report, which showed a significant number of corporate layoffs in May. Ed explains why labor data matters to real estate and mortgage rates, especially when buyers, sellers, and borrowers are trying to understand the direction of the market.

Ed and Mike also review Stanislaus County real estate activity, including closed transactions, active listings, and pending sales. The local numbers give listeners a better sense of what is actually happening in the Central Valley market instead of relying only on national headlines.

This episode is a mix of economic updates, local real estate insight, mortgage market perspective, and classic Real Estate Jerky humor.

Subscribe to Real Estate Jerky Daily for real estate market updates, mortgage conversations, and local insight with Ed Parcaut and Mike Kelly.

Contact and Social Links:

🔗 **Follow us:** - **Facebook:** [Real Estate Jerky](https://facebook.com/RealEstateJerky) - **Instagram:** [@RealEstateJerky](https://instagram.com/RealEstateJerky) - **Website:** [Real Estate Jerky](https://realestatejerky.com)

🔗 Ed Parcaut:

www.edparcaut.com - Twitter: [@EdParcaut](https://twitter.com/EdParcaut) - LinkedIn: [Ed Parcaut](https://www.linkedin.com/in/edparcaut)

Catch every episode for sharp insight and real talk about what matters now in real estate! #RealEstateJerkyDaily #EdParcaut #MikeKelly #RealEstateJerky #RealEstatePodcast #MortgagePodcast #MortgageRates #HousingMarketUpdate #RealEstateMarket #TreasuryYields #JobCuts #CorporateLayoffs #StanislausCountyRealEstate #ModestoRealEstate #CentralValleyRealEstate #CaliforniaRealEstate #MortgageMarket #HomeBuyingTips #RealEstateNews #MarketNewsWithTeeth

In this episode of Real Estate Jerky Daily, Ed Parcaut and Mike Kelly dig into the latest real estate and mortgage market numbers with their usual mix of local insight, market experience, and unfiltered humor.

The conversation starts with real-world mortgage documentation issues, including why lenders have to verify income changes, job moves, and salary increases. Ed explains how today's lending environment is shaped by past fraud problems and why borrowers are often surprised by how much documentation is required.

From there, Ed and Mike move into the market numbers, including Stanislaus County activity, active listings, pending sales, and recent closed transactions. They also discuss Treasury movement, rate pressure, inflation concerns, oil prices, the ISM services index, the ADP employment report, and Mortgage Bankers Association application data.

The episode also touches on purchase and refinance activity, with overall mortgage application volume down for the week, purchase applications down, and refinance applications still struggling under rate pressure.

If you are a buyer, seller, homeowner, investor, real estate professional, or mortgage professional, this episode gives you a practical look at what is moving the market and why the numbers matter.

Subscribe to Real Estate Jerky Daily for local real estate talk, mortgage strategy, market updates, and real conversations with Ed Parcaut and Mike Kelly.

Contact and Social Links:

🔗 **Follow us:** - **Facebook:** [Real Estate Jerky](https://facebook.com/RealEstateJerky) - **Instagram:** [@RealEstateJerky](https://instagram.com/RealEstateJerky) - **Website:** [Real Estate Jerky](https://realestatejerky.com)

🔗 Ed Parcaut:

www.edparcaut.com - Twitter: [@EdParcaut](https://twitter.com/EdParcaut) - LinkedIn: [Ed Parcaut](https://www.linkedin.com/in/edparcaut)

Catch every episode for sharp insight and real talk about what matters now in real estate! #RealEstateJerkyDaily #EdParcaut #MikeKelly #RealEstateJerky #RealEstatePodcast #MortgagePodcast #MortgageRates #MortgageApplications #HousingMarketUpdate #RealEstateMarket #StanislausCountyRealEstate #ModestoRealEstate #CentralValleyRealEstate #CaliforniaRealEstate #ADPJobsReport #JobsReport #MortgageMarket #HomeBuyingTips #Refinance #RealEstateNews

In this episode of Real Estate Jerky Daily, Ed Parcaut breaks down the latest market numbers and what they may mean for real estate, mortgage rates, and housing decisions.

The conversation starts with the JOLTS report, which tracks job openings and labor turnover. With job openings coming in above expectations, Ed looks at how labor market strength can influence the broader economy, mortgage rates, and the Federal Reserve's next moves.

Ed also discusses movement in the 10-year Treasury, recent pressure on mortgage rates, oil price volatility, and updated home value data showing that prices are still rising, even if many buyers are waiting for a major drop.

This episode is a reminder that real estate decisions should not be made from headlines alone. Buyers, sellers, homeowners, and investors need to understand the relationship between jobs, rates, inflation, inventory, and local market conditions.