LAURELWOOD
COMMUNITY NEWS

Mortgage markets showed volatility this week amid mixed news about the Middle East conflict, with mortgage rates ending slightly lower. The U.S. economy added 115,000 jobs in April, surpassing forecasts and supporting market stability. Wage growth remained modest, and the unemployment rate held steady at 4.3%.

This week, the Federal Reserve maintained the federal funds rate at 3.50 to 3.75%, with a notable split among officials. Core PCE inflation rose to 3.2%, the highest since November 2023, while geopolitical tensions in the Middle East added volatility to mortgage markets. Housing starts surged 11% in March, reaching the highest level since December 2024, despite a drop in building permits.

Mortgage markets experienced volatility this week due to Middle East conflict negotiations, while consumer spending surged 1.7% in March, exceeding forecasts. Despite the strong retail sales, mortgage rates ended slightly higher, influenced by geopolitical tensions and economic data. This dynamic impacts buyers and sellers navigating the Los Angeles residential market.