Phil Osborne here with the Lehigh Valley Wealth Center Weekly Mortgage Market Update. Mortgage interest rates ended the week slightly improved from last week. The Federal Reserve dropped the Fed Funds rate by .25%. However the Fed hinted that the most recent rate cutting cycle of short term rates could be over. This was great news for long term mortgage rates as they react to inflation more than short term rate movements. The Economy grew .6% in the 1st quarter slightly better than expected. 20,000 jobs were lost in April much better than economists expectations of 75,000, bringing the unemployment rate to 5%. Overall growth in the economy is slowing and if inflation moderates mortgage rates could continue to drop.

Tune in this Sunday at 7:30am right here on WAEB 790 am for our radio show “Lehigh Valley Wealth”. Listen in as we educate listeners on mortgage financing strategies, wealth building and real estate investing. Call us at 610.432.6600 to schedule a free planning consultation or Visit lehighvalleywealth.com that’s lehighvalleywealth.com