I don’t post a lot of info about loan products, but after a two year hiatus, jumbo loans are back with only 10% down!  That’s currently limited to a max $1,500,000 loan amount, so any property less than $1,666,666 can be purchased with only 10% down.  Buyers need to have some cash reserves, but for those not wanting to deplete other investments, this is a great program!

Speaking of thriving investments, interest rates continue to climb as Consumer Confidence shot up from 97 to 102 this month–the opposite direction of the 96 that the markets were expecting. Much of that confidence comes from polled high earners who have benefitted from the current all-time-high stock prices.  The Conference Board, who produces the Confidence number, also reports that their inflation gauge rose from 5.3% to 5.4% on this month’s reading.

Looks like we’re on track to test the low price/high rates of last month if Friday’s PCE number doesn’t turn this ship around. And the classic “hanging man pattern” of today’s red candlestick portends a lower opening tomorrow.