Navy Fellas Realty Group

Real Estate, Residential sales and purchase

Understanding the Importance of a Home Warranty

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Buying a home is one of the biggest financial investments you’ll ever make, so it’s important to protect that investment in every way possible. One way to provide protection is by purchasing a home warranty. While not required, a home warranty can offer peace of mind by covering the costs of repairing or replacing essential systems and appliances in the home. Understanding the importance of a home warranty can help you decide whether it’s the right choice for you as a homeowner.

What Is a Home Warranty?
A home warranty is a service contract that covers the repair or replacement of home systems and appliances that may break down due to normal wear and tear. It typically includes items such as HVAC systems, plumbing, electrical systems, kitchen appliances, and more. Unlike homeowners insurance, which covers damage from events like fire or theft, a home warranty focuses on fixing and replacing components that simply stop working or break down over time.

Why is a Home Warranty Important?

  1. Financial Protection Against Unexpected Repairs
    One of the biggest reasons homeowners opt for a home warranty is to protect themselves from unexpected repair costs. Household systems and appliances can fail without warning, and the cost to repair or replace them can be substantial. For example, a new air conditioning unit can cost thousands of dollars to replace. A home warranty can help mitigate these costs by covering repairs or offering replacements, saving you from having to pay out of pocket for expensive services.
  2. Convenience and Peace of Mind
    A home warranty can also provide convenience by connecting you to a network of trusted contractors and service providers. If an appliance or system breaks down, you simply contact the home warranty company, and they will coordinate the repair or replacement. This can save you time searching for reliable professionals and handling the stress of scheduling and payments. Knowing that you have coverage for potential breakdowns allows you to enjoy your home without worrying about the unexpected costs of repairs.
  3. Increased Home Value and Appeal
    For sellers, offering a home warranty can make your property more attractive to potential buyers. A home warranty can provide reassurance to buyers that they won’t be burdened with costly repairs after moving in. For buyers, the assurance of a home warranty can be a deciding factor, especially if the home is older and systems may be near the end of their lifespan. A home warranty can offer peace of mind, knowing that any major system failures will be covered.
  4. Budgeting for Home Repairs
    While home warranties do come with a cost, they can help homeowners better budget for potential repairs by providing predictable, low-cost service fees. Instead of paying large, unexpected amounts for repairs, you’ll pay an annual or monthly fee for the warranty and a small service fee when you need a repair. This can make managing the maintenance of your home easier, especially for first-time homeowners who may not have a large emergency fund set aside.

What Does a Home Warranty Typically Cover?
The coverage provided by a home warranty depends on the plan and the company, but generally, it covers:

  • Major appliances: Refrigerators, dishwashers, washers, dryers, stoves, etc.
  • Home systems: HVAC systems, plumbing, electrical systems, water heaters, and more.
  • Optional coverage: Some home warranties offer optional add-ons to cover pools, spas, septic systems, or other unique needs.

It’s important to read the terms of the warranty carefully to understand what’s covered and what’s excluded. For example, some warranties may not cover pre-existing conditions or damages caused by neglect.

What Are the Limitations of a Home Warranty?
While a home warranty offers many benefits, it’s important to understand its limitations. First, there may be exclusions, such as coverage for damage caused by improper maintenance or misuse. Additionally, a home warranty may only cover specific models or brands of appliances or systems, so it’s important to confirm that the items in your home are eligible for coverage.

Another consideration is the service fee that must be paid each time you request a repair. This fee can range from $50 to $100 or more, and while it’s often lower than the cost of a repair, it can add up over time if you need multiple services. Additionally, if a repair is not covered by the warranty or is deemed too expensive to repair, you may still be responsible for the full cost of a replacement.

A home warranty can be a valuable tool for homeowners looking to protect their investment and avoid the financial strain of unexpected repairs. By covering the cost of repairs and replacements for essential home systems and appliances, a home warranty provides peace of mind and convenience. Whether you’re buying a new home, selling a property, or simply want added protection, understanding the importance of a home warranty can help you make an informed decision about safeguarding your home.

How to Invest in Real Estate with a Limited Budget

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Investing in real estate is often seen as a venture for those with significant capital, but that’s not always the case. Even with a limited budget, there are still opportunities to enter the real estate market and start building wealth. Whether you’re looking for passive income or long-term gains, here are some strategies to consider for investing in real estate on a budget.

  1. Start with a House Hacking Strategy
    House hacking is one of the most popular strategies for real estate investment when you’re on a limited budget. It involves buying a multi-unit property, such as a duplex, triplex, or fourplex, living in one unit, and renting out the others. The rental income from the other units can help cover your mortgage and even generate additional income. This strategy allows you to start building equity in a property while keeping your living expenses low.

    If you’re not ready for a multi-unit property, house hacking can also work with single-family homes by renting out extra rooms. While this option won’t generate as much income as renting out entire units, it still offers a way to offset housing costs.

  2. Look for Properties in Undervalued Areas
    Location plays a significant role in real estate investments, and choosing the right area is key to making a profitable investment. If you’re working with a limited budget, consider looking for properties in up-and-coming or undervalued neighborhoods. These areas may have lower property prices but the potential for growth in the future.

    By investing in these neighborhoods early, you can benefit from property value appreciation as the area develops. Pay attention to factors like local infrastructure projects, new businesses, and improving schools, which can all indicate that a neighborhood is on the rise.

  3. Consider Real Estate Investment Trusts (REITs)
    If you’re not in a position to buy property directly, Real Estate Investment Trusts (REITs) provide an alternative way to invest in real estate with a limited budget. REITs allow you to invest in a diversified portfolio of real estate properties, such as apartment buildings, shopping centers, and office buildings, without the need to buy and manage physical properties yourself.

    REITs are traded on major stock exchanges, making them accessible to investors with small amounts of capital. Many REITs also pay dividends, providing a steady income stream, and they can be a great way to gain exposure to the real estate market without the high upfront costs.

  4. Look for Foreclosures or Auctions
    Foreclosed homes and properties sold at auction can be a way to acquire real estate below market value. Lenders and government agencies often sell foreclosed properties at a significant discount in order to recoup their losses. Auctions can also be a source of good deals, though it’s important to do thorough research before bidding on any property.

    Keep in mind that buying foreclosed properties or auction homes often comes with risks, such as hidden repair costs or legal complications. However, with proper due diligence, you can find properties that offer good returns on investment for a lower price.

  5. Partner with Other Investors
    If your budget is too limited to purchase a property on your own, consider partnering with other investors. Joint ventures allow you to pool your resources and share the costs and responsibilities of the investment. This can be a win-win situation, as you get access to larger and more lucrative properties, while the financial burden is spread among multiple investors.

    Before entering into a partnership, it’s important to clearly define each partner’s roles, contributions, and expectations. Having a legal agreement in place can help avoid conflicts down the line.

  6. Explore Seller Financing
    Seller financing is another way to invest in real estate with little upfront capital. In a seller-financed deal, the seller acts as the lender and you make monthly payments directly to them instead of securing a traditional mortgage from a bank. This can be an attractive option for buyers with limited credit or insufficient funds for a large down payment.

    Seller financing can also allow for more flexible terms, such as lower interest rates or a smaller down payment, making it an appealing option for those working with a tight budget. Be sure to have a professional involved to help negotiate the terms and ensure the deal is structured correctly.

  7. Leverage Government Programs for First-Time Homebuyers
    For first-time homebuyers, there are various government programs available that can help reduce the financial burden of purchasing a property. These programs typically offer lower down payment requirements, favorable interest rates, and even down payment assistance. By taking advantage of these programs, you can enter the real estate market with a smaller initial investment.

Investing in real estate with a limited budget is entirely possible if you approach it strategically. Whether you start with house hacking, invest in REITs, or explore opportunities like seller financing or foreclosures, there are many ways to get your foot in the door. By being creative, doing your research, and partnering with the right professionals, you can begin building wealth through real estate without a large upfront investment.

Tips for Buying a Home with a Shared Driveway

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When buying a home, many factors need to be considered, and one that may not always come to mind right away is the driveway. If you’re looking at a property with a shared driveway, it’s important to understand how this shared space can affect your experience as a homeowner. While a shared driveway can be an attractive feature in some situations, it can also present challenges. Here are some tips to keep in mind when buying a home with a shared driveway.

Understand the Terms of the Shared Agreement
Before moving forward with purchasing a home with a shared driveway, it’s essential to fully understand the terms of the agreement between you and the other property owners. Is there a formal easement in place that grants you legal access to the driveway? If so, what are the specifics of that easement? Some shared driveways are governed by written agreements, while others may be informal, making it crucial to review any legal documents related to the property. A real estate attorney can help you confirm the terms of the agreement and ensure your rights are protected.

Clarify Maintenance Responsibilities
One of the biggest concerns with a shared driveway is maintenance. Who is responsible for maintaining the driveway? Is there a shared cost for repairs, snow removal, or other upkeep? It’s essential to clarify these responsibilities before buying the property. You want to make sure that both parties are on the same page about how repairs will be handled and who will cover the costs. If maintenance duties are not clearly defined, it could lead to disagreements down the line.

Check for Access and Parking Issues
When you share a driveway, access and parking can become a source of frustration if not carefully managed. Are there any issues with parking that could affect your ability to use the driveway? For instance, will you have dedicated space to park your vehicles, or will you need to coordinate parking with the other property owner? It’s important to consider these practical aspects before purchasing. Be sure to walk through the driveway area during different times of day to ensure there won’t be any accessibility or parking issues that could affect your lifestyle.

Discuss Dispute Resolution
Despite your best efforts to get along with neighbors, conflicts can arise, especially when it comes to shared spaces. For this reason, it’s wise to discuss and agree on a method of dispute resolution. If there’s a disagreement about maintenance, use, or parking, how will it be resolved? Having a clear understanding of how disputes will be handled can prevent issues from escalating and protect you from potential legal complications.

Consider the Impact on Resale Value
Homes with shared driveways can sometimes present challenges when it comes to resale value. While some buyers may be perfectly comfortable with a shared driveway, others may see it as a negative. It’s important to consider how this shared space may impact the marketability of the property in the future. If you plan on reselling the home later, having clear documentation of the driveway agreement and maintenance responsibilities can help ease concerns for potential buyers.

Get Everything in Writing
Finally, to avoid future disputes or misunderstandings, make sure all agreements related to the shared driveway are documented in writing. This includes parking rights, maintenance responsibilities, and any restrictions on how the driveway can be used. Having these terms clearly outlined in writing provides legal protection and ensures that both parties understand their rights and obligations.

Buying a home with a shared driveway can be a great option, especially if you’re in a desirable location or want to save on property costs. However, it’s essential to be proactive and understand the legal, practical, and logistical aspects involved. By doing your due diligence and ensuring everything is properly documented, you can enjoy a smooth experience with your shared driveway.

Understanding the Process of Selling a Home Through Probate

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Selling a home through probate can seem complicated, especially when you’re grieving the loss of a loved one. However, understanding the process can help alleviate some of the stress and ensure the sale goes smoothly. Probate is the legal process through which a deceased person’s estate is administered, and it includes the distribution of assets, including real property. If you’re the executor of an estate or a beneficiary, selling a home through probate requires following certain legal steps and working with the right professionals to ensure everything is handled correctly.

What Is Probate?
Probate is a court-supervised process where a deceased person’s assets are inventoried, debts are paid, and property is distributed according to the terms of their will or, if there is no will, state law. The probate process can take several months, sometimes even longer, depending on the complexity of the estate. During this time, the home may need to be sold to pay off outstanding debts or to distribute the proceeds among heirs.

Steps to Selling a Home Through Probate

  1. Appointing the Executor or Administrator
    The first step in the probate process is appointing an executor or administrator, if one has not already been named in the will. This person is responsible for managing the estate, including selling any property. If the deceased person did not have a will, the court will appoint an administrator, typically a close family member, to manage the process.
  2. Probate Court Approval
    Before selling a property in probate, the sale usually needs to be approved by the probate court. This is an important step, especially if the sale price is lower than the appraised value or if the home is being sold to an interested party who may have a conflict of interest. The court will ensure that the sale is fair and in line with the deceased person’s wishes. In some cases, this approval can take several weeks or even months.
  3. Real Estate Agent’s Role
    Working with a real estate agent experienced in probate sales can be invaluable. They will guide you through the entire process, from pricing the home to handling negotiations and ensuring that the sale is compliant with state and court requirements. An experienced agent can also help you navigate the legalities, provide access to qualified buyers, and offer advice on how to best market the property for a timely sale.
  4. Preparing the Home for Sale
    Once the court has approved the sale, the home should be prepared for listing. This may involve cleaning, repairing, or staging the home to ensure it’s appealing to potential buyers. Depending on the condition of the property, you may need to invest in repairs or cosmetic upgrades. If the deceased person’s belongings remain in the home, these should be cleared out before listing it for sale.
  5. Sale and Distribution of Proceeds
    Once an offer is accepted, the sale must be presented to the probate court for final approval. Once the sale is approved, the property can be sold, and the proceeds will be distributed according to the instructions in the will or as required by state law. The proceeds may be used to pay off any remaining debts or be divided among the beneficiaries.

Challenges to Selling a Home Through Probate
While selling a home through probate can be a straightforward process, there are challenges to consider. The probate court’s involvement can slow down the sale process, and the home may need to be sold as-is, without the ability to make significant improvements. Additionally, if there are disputes among family members or heirs, it can complicate the sale and delay closing.

Selling a home through probate requires patience and attention to detail. Working with a knowledgeable real estate agent and a probate attorney can help you navigate the legal requirements and ensure the sale is completed smoothly. Whether you’re the executor or a beneficiary, understanding the probate process and the steps involved in selling a home can help you make informed decisions and manage the sale with confidence.

What’s Ahead For Mortgage Rates This Week – August 11th, 2025

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The major report to look out for was the Trade Balance, which has decreased more than expected, suggesting that the current administration’s policies are having an impact. However, the long-term impact on the economy as a whole remain to be seen. This was followed closely by consumer credit, which came in far lower than expected, though many are predicting that consumer credit usage will grow over time. While the labor market remains constrained, the consumer market has remained stable in spite of the uncertainty brought on by the tariff policies.

Trade Balance
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $60.2 billion in June, down $11.5 billion from $71.7 billion in May, revised.

Consumer Credit
Revolving credit, mainly credit cards, declined for the second straight month in June, the Federal Reserve said. Revolving credit fell at a 1% rate in June after a 3.5% drop in the prior month. Declines in credit-card borrowing are rare: The last time revolving credit fell for two straight months was during the COVID pandemic in 2020.

Primary Mortgage Market Survey Index

  • 15-Yr FRM rates saw a decrease of -0.10% with the current rate at 5.75%
  • 30-Yr FRM rates saw a decrease of -0.09% with the current rate at 6.63%

MND Rate Index

  • 30-Yr FHA rates saw a decrease of -0.07% this week. Current rates at 6.15%
  • 30-Yr VA rates saw a decrease of -0.08% this week. Current rates at 6.16%

Jobless Claims
Initial Claims were reported to be 226,000 compared to the expected claims of 221,000. The prior week landed at 219,000.

What’s Ahead
A heavy week with the next round of inflation data being released with both the CPI and PPI reports. It should be noted that this CPI will feature less recorded data, relying more on estimations. In addition, Retail Sales, Consumer Sentiment, and Treasury Budget should prove to be impactful data releases.

A Tactical Plan to Go From Renter to Owner in One Year

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For many renters, the idea of homeownership feels just out of reach. Rising home prices, limited inventory, and financial uncertainty can make the process seem overwhelming. But with a clear plan, the right guidance, and a one-year commitment, you can move from renter to homeowner, and take control of your financial future.

Here is a practical, month-by-month roadmap to help make it happen.

Month 1: Assess Your Finances and Set a Goal

Start by reviewing your income, expenses, and debt. Use a simple budget worksheet to understand where your money is going. Pull your credit report from all three bureaus and check your score.

Set a realistic savings goal for your down payment and closing costs. While 20 percent is ideal, many loan programs allow for as little as 3 to 5 percent down.

Month 3: Build or Repair Your Credit

If your credit score needs improvement, now is the time to act. Pay bills on time, reduce credit card balances, and avoid taking on new debt. Dispute any errors on your credit report and work toward lowering your overall utilization rate.

Even small changes in your score can lead to better loan options.

Month 5: Start Saving Consistently

Open a dedicated savings account for your home purchase. Set up automatic transfers and treat your savings like a non-negotiable bill. If possible, cut back on non-essential expenses, pick up side work, or redirect windfalls like tax refunds or bonuses toward your home fund.

This is also a good time to explore down payment assistance programs in your area.

Month 7: Meet with a Mortgage Professional

Now that your finances are on track, schedule a meeting with a trusted lender or mortgage broker. They will help you understand your loan options, walk you through the pre-approval process, and calculate how much home you can afford.

Getting pre-approved now gives you clarity, and shows sellers you are serious.

Month 9: Connect with a Real Estate Agent

It is time to start house hunting. Choose a real estate agent who understands your goals, communicates well, and knows your market. Your agent will help you focus on neighborhoods that fit your lifestyle and budget, and ensure you are seeing homes that meet your criteria.

Month 11: Make a Move

When you find the right home, your agent will guide you through making an offer, negotiating terms, and completing inspections. From contract to closing, the process can take 30 to 45 days.

Before you know it, you will be holding the keys to a home that is truly yours.

You Do Not Have to Do It Alone

Becoming a homeowner takes effort, but it is absolutely possible with a plan in place. As your real estate agent, I am here to walk with you through each step from your first question to your final closing signature.

Let us turn your “someday” into “this year.”

Eco-Friendly Features That Actually Add Value

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Eco-friendly living is more than just a trend, it is becoming a priority for today’s homebuyers. While solar panels often get the spotlight, there are many other green features that not only reduce your environmental footprint but also boost your home’s resale value. If you are thinking of making upgrades before selling, or you are a buyer looking for long-term savings, these sustainable features deserve a closer look.

Energy-Efficient Windows and Insulation

Replacing old, drafty windows with double- or triple-pane energy-efficient models can significantly reduce energy costs and improve comfort. Paired with upgraded insulation in attics and walls, these improvements keep homes warmer in the winter and cooler in the summer, without overworking the HVAC system.

Buyers are increasingly aware of utility costs, and homes with these upgrades often appraise higher and sell faster, especially in regions with extreme temperatures.

Smart Thermostats and Energy Monitoring

Smart thermostats, like Nest or Ecobee, offer more than convenience—they can cut heating and cooling bills by learning a household’s habits and optimizing energy use. Buyers love seeing these systems in place because they offer immediate cost savings and reflect a modern, tech-savvy lifestyle.

Some systems even come with full energy monitoring dashboards, giving homeowners insight into their usage and empowering them to make more sustainable choices.

Drought-Resistant Landscaping

Water-efficient yards are rising in popularity, especially in areas where drought or water restrictions are common. Xeriscaping, native plants, drip irrigation systems, and artificial turf help reduce water usage without sacrificing curb appeal.

Eco-friendly landscaping is attractive to buyers not only for environmental reasons but also because it reduces long-term maintenance and utility bills.

Tankless Water Heaters and High-Efficiency Appliances

Tankless water heaters deliver hot water on demand, which saves energy and extends the lifespan of the unit. When paired with ENERGY STAR-rated appliances—like refrigerators, washers, and dishwashers—they can make a strong impression on buyers who are looking for a more efficient, lower-cost home.

These upgrades signal that the home has been well cared for and updated for modern living.

EV Charging Stations

With electric vehicles on the rise, having a Level 2 charging station installed in the garage or driveway can give your home an edge over similar listings. It is a relatively small investment that appeals to a growing segment of eco-conscious buyers.

In some markets, this feature is no longer considered a luxury—it is a smart, forward-thinking addition that can sway decisions in competitive neighborhoods.

Sustainability Sells

Today’s buyers are looking for homes that align with their values and lifestyles. Sustainable upgrades can reduce ownership costs, improve comfort, and help protect the environment while increasing property value.

As your real estate agent, I can help you identify which green features will give you the best return on investment and appeal most to buyers in your local market. Let’s make your home both smarter and greener.

Understanding the Process of Selling a Home As-Is

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Selling a home as-is can be a practical option for homeowners who want to avoid making repairs before listing. However, understanding what it means to sell as-is, and how it affects the process, is essential for a smooth transaction. This approach can attract certain buyers, but it also requires clear communication and realistic expectations.

What Does Selling As-Is Really Mean?

When a home is sold as-is, the seller is stating upfront that they will not make any repairs or improvements before the sale. The home is offered in its current condition, and the buyer agrees to accept it that way.

This does not mean the seller can hide problems. In most states, sellers are still required to disclose known issues, such as roof leaks, foundation problems, or pest damage. Transparency is key to avoiding legal complications later.

Why Homeowners Choose to Sell As-Is

There are many reasons a seller might choose to list a property as-is. Some sellers are dealing with financial challenges and cannot afford to make repairs. Others may have inherited a home they do not wish to renovate. In some cases, sellers are simply looking to move quickly and want to simplify the process.

Selling as-is can save time and effort, but it often comes with trade-offs, including a lower sale price and a smaller pool of interested buyers.

What Buyers Expect in an As-Is Sale

Buyers who pursue as-is properties usually understand that repairs may be needed, but they still want to know what they are getting into. That is why home inspections are still a major part of as-is sales. Buyers may still conduct an inspection, not to negotiate repairs, but to decide whether to move forward.

An as-is sale does not mean buyers have no rights. If the inspection reveals serious issues the buyer was not aware of, they can still walk away during the inspection period, depending on the terms of the contract.

Pricing the Property Correctly

Pricing is critical when selling as-is. Because buyers expect to invest in repairs, the asking price must reflect the home’s current condition. Overpricing an as-is home can result in it sitting on the market too long, which may raise red flags.

A real estate agent can help analyze local sales of similar as-is homes, provide a realistic price range, and help present the home in a way that highlights its potential.

Being Prepared and Staying Honest

Selling as-is does not have to be difficult. With proper preparation, honest disclosures, and the right pricing strategy, sellers can attract serious buyers who are ready to take on a property in its current state.

As a real estate agent, I guide sellers through each step of the as-is process to ensure their legal obligations are met and their expectations are aligned with the market. For the right seller, this can be a smart way to sell quickly and move forward.

The Importance of a Home Inspection Before Purchasing

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Buying a home is one of the biggest financial commitments most people make in their lifetime. While the process can be exciting, it is also full of important steps that protect your investment. One of the most critical yet sometimes overlooked steps is the home inspection.

Uncovering Hidden Issues

A home may look perfect on the surface, but only a thorough inspection can reveal what is going on behind the walls, under the roof, or in the foundation. A certified home inspector checks the major systems of the home, including electrical, plumbing, HVAC, and structural components. These findings help you understand what repairs may be needed and what kind of maintenance to expect.

Without a home inspection, buyers run the risk of moving into a property that needs thousands of dollars in unexpected repairs. This could quickly turn your dream home into a costly burden.

Leverage for Negotiation

The results of a home inspection report can be used as a negotiation tool. If the inspection uncovers issues, buyers may ask the seller to make repairs or offer a credit at closing. In some cases, the seller may agree to lower the purchase price.

Even if the issues are minor, knowing them in advance gives buyers a more complete picture of the property and a better position to make informed decisions. In a competitive market, some buyers may consider waiving the inspection to strengthen their offer, but that can lead to major regret down the line.

Peace of Mind and Long-Term Planning

A home inspection offers peace of mind. It confirms that you are making a sound investment and gives you confidence moving forward with the purchase. Even if the report lists only minor issues, it helps you understand how to maintain the home over time.

For example, the inspector may note that the water heater is working but nearing the end of its lifespan. This does not have to be a deal-breaker, but it gives you time to budget for a future replacement.

Protecting Your Investment

Buying a home without an inspection is a gamble. A few hundred dollars spent on an inspection can save thousands later and may even prevent you from buying a property that is not safe or structurally sound. It is one of the smartest steps you can take to protect yourself and your future.

As a real estate agent, I always recommend a full inspection to my clients, regardless of the home’s age or condition. It is not about slowing the process down, it is about making sure you are fully informed and protected every step of the way.

What’s Ahead For Mortgage Rates This Week – August 4th, 2025

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There were several notable releases this last week, with the largest being the PCE Index — the Federal Reserve’s preferred inflation indicator. The PCE Index may be the more accurate indicator going forward, as data collection for the Consumer Price Index has been recently cut, thereby reducing its reliability. As expected, the inflation numbers have been steadily rising with the PCE Index, indicating that impacts from the tariffs are now filtering into prices for both producers and consumers.

As a follow up, Personal Income & Spending has had a light upturn after the initial panic with the tariffs. Lastly, the job numbers from last week have been unexpectedly weak, showing a slow down of the economy overall due to many factors.

PCE Index
A key measure of inflation posted the biggest increase in four months in June as the delayed effects of higher U.S. tariffs began to filter through the economy, raising questions about whether the Federal Reserve will cut interest rates soon. The PCE index, the Fed’s preferred inflation gauge, rose 0.3% last month, the Bureau of Economic Analysis said Thursday. It was the biggest increase since February.

Personal Spending & Income
Americans spent more money in June after U.S. trade wars began to simmer down, but they were cautious spenders amid all the turmoil caused by the Trump administration’s tariffs. Personal spending increased 0.3% last month, the government said Thursday, and partly recovered from a soft patch in May and April.

Employment Reports
The U.S. only added 19,000 jobs in May compared to an initial report of 144,000, and only 14,000 in June after an initial report of 147,000, according to the BLS. Those two paltry totals, plus a July jobs gain of 73,000, means the U.S. added just 106,000 jobs over the past three months.

Primary Mortgage Market Survey Index

  • 15-Yr FRM rates saw a decrease of -0.02% with the current rate at 5.85%
  • 30-Yr FRM rates saw a decrease of -0.02% with the current rate at 6.72%

MND Rate Index

  • 30-Yr FHA rates saw a decrease of -0.17% this week. Current rates at 6.22%
  • 30-Yr VA rates saw a decrease of -0.16% this week. Current rates at 6.24%

Jobless Claims
Initial Claims were reported to be 218,000 compared to the expected claims of 222,000. The prior week landed at 217,000.

What’s Ahead
Next week will be a fairly light week, with the most significant releases being the Trade Balance as well as the Services PMI reports.