7.27.2024 Weekend market update & ADU EVENT

TLDR: Rates held steady this week, and economic reports are looking positive!

**Weekly Economic Update**

This week's highlight is all around the PCE price index, a crucial measure of inflation. Here’s why it matters:

**PCE vs. CPI**: The PCE index confirmed the inflation progress seen in the CPI data from two weeks ago. Inflation really looks to be getting lower!

**"Mission Accomplished" Explained**: The Fed aims for 2% annual inflation, often tracked by Core PCE, excluding volatile food and energy prices. To hit this target, monthly inflation reading needs to average around 0.17%. The latest reading was 0.182%, close to pre-pandemic levels. The Fed believes that consistent inflation trends are more critical than exact numbers, so confidence is growing meaning you will start seeing mortgage rates scale down if this keeps up.

- **Rate Cut Expectations**: Despite positive signs, the market isn't banking on a September rate cut just yet. Former NY Fed President William Dudley's op-ed pushed for a cut, but the Fed is more likely to set the stage for September rather than act immediately. Watch for updates in this week’s jobs report and the Fed’s comments on Wednesday.

**ADU EVENT**

Whether you love or hate ADUs, they are here to stay, so join us for the IERP ADU Mastermind on July 31st at 9:30 AM at the Historic Riverside Fox Theater! 

 What you’ll learn from the panelists, including me:
- Understanding ADU regulations and permits ~ it’s ever-changing for the better in California.
- Financing options AVAILABLE - I have spent years learning the ins & outs of what we can do with ADU financing. From creative loan products all the way down to traditional
- Design and construction best practices 

All of us on the panel are top ADU experts in Riverside who have been innovators in the ADU community! You definitely will learn a lot at this event!
Here is the link to register: https://lp.constantcontactpages.com/ev/reg/5b98q7m