The Monday Show

SUMMARY: Retail sales rise less than expected in May with year-over-year data showing that consumers are keeping pace with inflation, Euro area inflation rises for the first time in three months, New Hanover County passes a budget, and Wilmington's rental market cools slightly in the second quarter...

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: Consumer price growth came in lower than expected in May, The Fed projects one rate cut in 2024, mortgage demand jumps, and a new home listing could break a New Hanover County record...

• Inflation Cools in May, Rates Fall
• Fed Holds Rates While Dropping Their Rate Cuts From 3 to 1
• Mortgage Demand Jumps as Refi Demand Hits Two-Year High
• New Listing Could Set Record in New Hanover County

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: May's jobs report comes in super hot which might kill all hope of a rate cut in 2024, busy week ahead with inflation data and a Fed meeting, and the luxury housing market in Wilmington sees some inventory growth..

SHOW NOTES:

• Hot Jobs Report Pushes Rates Higher
• This Week: Inflation & Interest Rates
• Luxury Home Listings Surge in Wilmington

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: Big jobs report out today so we recap the labor market reports earlier this week, mortgage rates fall under 7.0%, Europe cuts interest rates, and meme stocks are memeing...

SHOW NOTES:

• Initial Jobless Claims Rise for the 3rd Straight Week
• European Central Bank Cuts Rates for the First Time Since 2019
• Mortgage Rates Fall Back Under 7.0%
• GameStop shares jump more than 40% as ‘Roaring Kitty’ schedules YouTube livestream for Friday

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: Job openings fall more than expected in April, manufacturing activity unexpectedly falls in May, construction spending unexpectedly falls, and home price growth slows for the 3rd straight month...

SHOW NOTES:

• Job Openings Fall More Than Expected
• Manufacturing Activity Unexpectedly Slowed in May
• Construction Spending Unexpectedly Fell in April
• Home Price Growth Slowed for the 3rd Straight Month

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY:  Welcome to the Cape Fear Report the new and slightly different version of Markets & Mortgages).  On today's show we discuss the latest PCE report that was good news, the slight cooling in the Wilmington housing market, and the busy jobs week ahead...

READ MORE:

• Fed’s Preferred Inflation Gauge Holds Steady in April
• Wilmington’s Housing Market Heats Up Slightly in May
• It's Jobs Week

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: We explain why it is not true that only half of Americans can afford a $250k home, Federal Reserve 2023 survey finds a big price variance between homebuyers now and pre-2022, Fed Vice Philip Jefferson talks housing, and new construction keeps inventory levels from falling...

SHOW NOTES:

• Nearly Half of US Households Can’t Afford a $250,000 Home Is Not Entirely Accurate
• Homeowners Who Bought Pre-2022 Are Saving Over $8,000 A Year
• The Fed Vice Chair Talks Housing
• Share of Newly Built Single-Family Homes Holds in Q1

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: Inflation data in April is mixed and retail sales are flat and the markets like it, homebuilder confidence falls as residential construction data is mixed...

SHOW NOTES:

• Consumer Prices Slightly Hotter Than Expected in April
• Retail Sales are Unexpectedly Flat in April
• Homebuilder Confidence Falls Back Into Negative Territory in May
• Residential Construction Dissapoints in April

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: Producer prices rise more than expected, Powell says rates will stay higher for longer, credit cards are becoming a problem for consumers, and Bien jumps on the tariff train...

SHOW NOTES:

• Producer Prices Jump More Than Expected in April
• Powell Doubles Down on Higher for Longer
• Household Debt Rises to $17.7T
• President Biden Announces New Tariffs

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: President Joe Biden tweeted about a White House program that would subsidize demand at a time when we have a supply problem, the federal deficit was $1.7 trillion in March, and we have a busy week full of inflation and housing data...

SHOW NOTES:

• Biden's Temporary Buydown
• Deficit Falls Slightly But Is Still Over $1.7T
• This Week: Inflation & Housing Data

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201