We made it through the first major economic data dump of the year.  If you see the chart below (I look at this every single day), we had four consecutive down days of the 10yr bond yield we like to track against our beloved 30yr mortgage rates.  I mentioned in an Instagram video I posted on Thursday that we had one more major report coming on Friday, the NFP (Non-Farm Payrolls).  The numbers surprised to the upside by almost double the expected number.  That resulted in the two massive up days in the 10yr yield you can see below, and we now hover back over the 4.00% mark.  The Fed specifically called out the job market strength during their FOMC meeting, so this response was not at all surprising and it resulted in the 30yr mortgage jumping from 6.62% back to 6.92%.  Why do I cover this?  A. So, you don't have to.  B. Because mortgage rates are massively important for affordability and thus to home buyers and sellers.  Home values don't look like they want to give up, so demand is going to have to rely on rates.  I've already been seeing an increase in activity.  Competition has been heavy with two of my active buyers below the $500k price tag.

My Valentine's Pizza Event is this coming Friday, I look forward to seeing everyone that signed up!
Have a great week!

What are you seeing or hearing? I'd love to know paul@guiderealestate.com
Visit www.paulpelettarealtor.com

Gorgeous single-story on a corner lot nestled in the highly desirable gated community of Whitney Oaks. Property features an open floor plan with high ceilings and majestic columns throughout. Kitchen with walk-in pantry and large center island that opens to the family room with fireplace and breakfast nook. Formal living and dining room are perfect for entertaining. Large primary bedroom boasts 2 closets and private bath with dual sinks, shower and jetted tub. There are 3 legal bedrooms and 2 others that do not have closets. So a possible 5 bedroom home. Low maintenance rear yard with expansive patio area and deck with valley views that will take your breath away. Located in the Rocklin School District and close to shopping, restaurants, golf and so much more!

  Listed at $1,160,000 by John Brophy - GUIDE Real Estate
5232 Silver Peak Ln, Rocklin, CA 95765

Know someone who may be interested? Let me know at paul@guiderealestate.com

*These rates are courtesy of Dara Delgado - Home Loans*