Episode Details

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:**
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