Live in Purcellville!

16/10/2024

Today is your Lucky Day! Seller says Sell! Huge price improvement. Now only 1,790,000. Contact me today! Open Sunday 12-2

27/09/2024

HOT NEW LISTING ALERT! NEW HOME! Message Erin Kavanagh703 431 8310!

13/07/2024

Mortgage Market

This week, the news cycle was nonstop, but the capital markets were focused on the future direction of Fed monetary policy and release of the most recent inflation readings. Fed Chair Powell gave his semi-annual congressional testimony on Capitol Hill and purposely did not foreshadow the timing of future rate cuts. However, despite stating economic growth is still solid, he acknowledged the economy as having a two-sided risk of increasing unemployment at the same time as inflation still being above its 2% target. In a vacuum, this does not mean any imminent action by our central bank, but a cooling labor market indicates the Fed's dual mandate to achieve employment and inflation objectives are becoming more balanced.

Consumer inflation numbers released Thursday dipped for the first time in more than four years putting the consumer inflation rate at its lowest level in more than three years (rate friendly). June producer inflation readings released Friday offset some of this week’s rate improvements by coming in slightly hotter than expected. Overall, rates for most programs ended the week slightly lower than last.

The Fed's preferred inflation gauge PCE will be released on the last Friday of this month. Next week, I will be monitoring retail sales figures that account for two-thirds of domestic economic activity and the European Central Bank's statement on the direction of their future monetary policy for any potential impact on mortgage rates.
CNBC.com: Fed Chair Warns on Keeping Rates Elevated for Too Long
Newsweek: Mortgage Forecasters Predict Rates at End of 2024

Did You Know?

Topic: Federal Reserve’s “dual mandate”

Did You Know the U.S. Federal Reserve’s mandate was shaped in the 1977 Federal Reserve Act during a time when our economy experienced simultaneous high inflation and unemployment? Congress explicitly stated the Fed’s goals should be “maximum employment, stable prices, and moderate long-term interest rates.” These goals, which remain today, came to be known as the Fed’s “dual mandate.”

Monetary policy refers to tools used by a central bank to directly control the country’s money supply which indirectly contracts or expands economic activity. For the past two years the Federal Reserve has employed contractionary monetary policy by raising interest rates with the goal of:
Reduce Demand for Goods & Services
Lowering the Rate of Inflation
Reduce Labor Market Pressures
Economists will be closely monitoring reporting on inflation, consumer spending and labor data in the coming weeks and months to gauge when the Fed will both begin to cut interest rates as well as to forecast by how much.

CNBC is the world leader in business news and real-time financial market coverage. Find fast, actionable information.

27/06/2024

https://www.loudounnow.com/news/towns/second-western-loudoun-rec-center-meeting-set/article_590470de-2da3-11ef-bc09-07b085e52169.html?utm_medium=social&utm_source=facebook&utm_campaign=user-share&fbclid=IwZXh0bgNhZW0CMTEAAR0gWpWkdz8rofHmI3YgI6vwPEVh_00K3sq1TDFECoOn_5fGtMxVolTlTFI_aem_wDDDg8xzPJazojyOVA0Q_Q

Loudoun County planning staff will host a second community input meeting for the planned Western Loudoun Recreation Complex next week at Harmony Middle School.

03/06/2024

Please consider helping the family! Such a tragic situation. Thank you for any assistance.

We are reaching out to ask for support for our dear friend's daughter, Leili Schwartz… Katy Donovan needs your support for Support for Leili Schwartz's Family

29/01/2024

I have a very well qualified Buyer for a home in the Black Oak Ridge Neighborhood. Do you know of anyone considering a move?

19/01/2024

Did you know there are only 30 active listings for sale in 20132? Spring inventory is needed. Are you considering selling this year?
If so reach out we can guide you on the right path.

11/01/2024

Congratulations to my friend Kevin Wright!

After interviewing nine candidates to fill the Town Council seat left vacant by Mary “Boo” Bennett’s departure last month, the Purcellville Town Council voted unanimously on Jan. 8 to appoint