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Stephen Cunningham

Sr. Clear Guidance. Hassle-Free Closings. Stephen Cunningham | NMLS #2013942
Everett Financial, Inc. dba Supreme Lending NMLS #2129
Equal Housing Opportunity.

Loan Officer | NMLS #2013942 | Supreme Lending NMLS #2129 | Trusted Mortgage Expert Helping Californians & Iowans Buy, Refi & Invest with Confidence | Low Rates. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License. https://scunningham.supremelendinglo.com/
www.nmlsconsumer.org

04/30/2025

Glad to be apart of Supreme Lending leading the way in innovation for their LOs and making the borrower experience seamless!

05/28/2024

Great Memorial Day weekend with the fam!

04/15/2024

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗔𝗽𝗿𝗶𝗹 𝟭𝟱, 𝟮𝟬𝟮𝟰

𝗟𝗮𝘀𝘁 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗥𝗲𝗰𝗮𝗽: 𝗥𝗮𝘁𝗲𝘀 𝗺𝗼𝘃𝗲𝗱 𝗵𝗶𝗴𝗵𝗲𝗿 👎
Rates moved quite a bit higher last week when inflation readings came in stronger than expected, showing that inflation increased rather than dropped. Markets reacted to the data by dropping the number of Fed rate cuts forecasted for later this year.

𝗧𝗵𝗶𝘀 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝗺𝗮𝘆 𝗴𝗲𝘁 𝘄𝗼𝗿𝘀𝗲👎
Rates are likely to creep higher this week as markets adjust to expectations that the Fed may cut rates only twice or even once this year. Strong economic and labor data along with increasing inflation have shelved the idea that any rate cuts will happen before September at the earliest.

🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Fed speakers: Lots of Fed officials will be out speaking this week, likely sharing the message that the Fed does not need to cut rates yet.
- The Fed: Markets are now expecting only two or even one Fed rate cut this year as Fed officials continue to say that the strong economy and labor market along with stubborn inflation make it too early to even consider cutting rates. Mortgage rates won't move lower unless/until expectations grow again that the Fed will have to cut rates.
- Economic data: Not a lot of data this week, and what we've seen already was bad for mortgage rates.

04/08/2024

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗔𝗽𝗿𝗶𝗹 𝟴, 𝟮𝟬𝟮𝟰

𝗟𝗮𝘀𝘁 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗥𝗲𝗰𝗮𝗽: 𝗥𝗮𝘁𝗲𝘀 𝗺𝗼𝘃𝗲𝗱 𝗵𝗶𝗴𝗵𝗲𝗿 👎
Rates moved slightly higher last week when strong economic and labor data made it less likely the Fed will need to cut rates until later in the year, and will likely cut rates less than the three times that was recently projected at the last Fed meeting.

𝗧𝗵𝗶𝘀 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝗺𝗮𝘆 𝗴𝗲𝘁 𝘄𝗼𝗿𝘀𝗲👎
Rates are more likely to creep higher this week, especially if the inflation data is disappointing, as markets adjust to the idea that the Fed may hold off on any rate cuts until much later in the year.

🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Economic data: This week brings important inflation data, which is not likely to be too helpful to mortgage rates. Although economists are projecting a small improvement in inflation, it would take a surprisingly low reading to help rates to rally, and that is unlikely to happen.
- The Fed: Markets are starting to bet on only two Fed rate cuts this year as Fed officials continue to say that the strong economy and labor market along with stubborn inflation make it too early to even consider cutting rates. The Fed will only need to consider cutting rates if we see signs of a weakening economy and a softening labor market that needs stimulus.

04/01/2024

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗔𝗽𝗿𝗶𝗹 𝟭, 𝟮𝟬𝟮𝟰

𝗟𝗮𝘀𝘁 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗥𝗲𝗰𝗮𝗽: 𝗥𝗮𝘁𝗲𝘀 𝘂𝗻𝗰𝗵𝗮𝗻𝗴𝗲𝗱 👍
Rates remained basically unchanged last week, not really moving much day-to-day. There was little economic data to worry about, and it was a holiday week with markets closing early on Thursday and closed Friday.

𝗧𝗵𝗶𝘀 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝗺𝗮𝘆 𝗶𝗺𝗽𝗿𝗼𝘃𝗲 👍
Although rates will likely start the week worse, there are lots of opportunities to see rates improve by the end of the week with help from data showing a weakening labor market which could support the Fed cutting rates sooner, say in June.

🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Economic data: There is at least one report each day this week involving jobs and the labor market, which could cause mortgage rates to move day-to-day. Friday brings the most important data, with the highest chance to move rates. Data showing a weakening labor market will help rates, stronger than expected data will hurt rates.
- The Fed: Mortgage rates won't improve much unless markets believe the Fed will cut rates soon. Right now, Fed officials have said they aren't in a hurry to cut rates until they see clear confirmation that inflation is still moving lower. We need signs of softening labor market and weaker economy to create urgency for the Fed to cut rates.

03/29/2024

A new report from Zillow says American households need to make at least $106,536 a year to comfortably afford the typical priced U.S. home. That’s up from $59,046 in 2020.

That’s a tough ask for many considering the median U.S. household earns an estimated $81,216. Up from $65,925 in 2020.

“The income needed to comfortably afford a home is up 80% since 2020, while median income has risen 23% in that time,”

03/25/2024

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗠𝗮𝗿𝗰𝗵 𝟮𝟱, 𝟮𝟬𝟮𝟰

𝗟𝗮𝘀𝘁 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗥𝗲𝗰𝗮𝗽: 𝗥𝗮𝘁𝗲𝘀 𝗶𝗺𝗽𝗿𝗼𝘃𝗲𝗱 👍
Rates actually improved last week when the Fed continued to project three rate cuts for 2024 and more to come in 2025. The Fed also signaled that it wasn't yet concerned with the recent uptick in inflation and still felt that it would have no need to raise rates further in this tightening cycle, and left its policy rate unchanged.

𝗧𝗵𝗶𝘀 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝗺𝗮𝘆 𝗶𝗺𝗽𝗿𝗼𝘃𝗲 👍
This week is a holiday shortened week that is unlikely to see rates make any significant moves, but we could see slight improvement. The latest trend is that rates may slowly improve ahead of April's labor and inflation data, as markets start to see a June Fed rate cut as more likely after the latest Fed meeting.

🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Economic data: Although there are some mid tier economic reports that will come out this week, the PCE inflation data comes out on Friday when markets will be closed for Good Friday and we are not likely to see a reaction to that data until Monday. It is unlikely rates move much on this week's data.
- Holiday weekend: Markets close early on Thursday and will be closed on Friday, meaning that most lenders will not change rates after Thursday until next week.

03/18/2024

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗠𝗮𝗿𝗰𝗵 𝟭𝟴, 𝟮𝟬𝟮𝟰

𝗟𝗮𝘀𝘁 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗥𝗲𝗰𝗮𝗽: 𝗥𝗮𝘁𝗲𝘀 𝗺𝗼𝘃𝗲𝗱 𝗵𝗶𝗴𝗵𝗲𝗿 👎
Mortgage rates moved quite a bit higher last week, giving up all of the gains seen earlier in March. Rates moved higher due to hotter inflation and strong economic data that make it much less likely the Fed will need to cut rates anytime soon.

𝗧𝗵𝗶𝘀 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝘄𝗶𝗹𝗹 𝗯𝗲 𝘃𝗼𝗹𝗮𝘁𝗶𝗹𝗲 𝗮𝗻𝗱 𝗰𝗼𝘂𝗹𝗱 𝗺𝗼𝘃𝗲 𝗵𝗶𝗴𝗵𝗲𝗿 ⚠️
This week has the potential to open the door for rates to move even higher, or to settle back down a bit, depending on how Wednesday's Fed meeting and press conference play out.

🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Fed meeting: Wednesday at 2pm ET, the Fed is expected to leave policy rates unchanged, but will signal what may come at future meetings in its policy statement.
- Fed rate forecasts: At this meeting, Fed members will make their anonymous forecasts for where policy rates will end this year and the next few years. The last projection was for three Fed rate cuts in 2024, and if that falls to two cuts it could pressure mortgage rates higher.
- Powell press conference: Fed Chair Jerome Powell's press conference at 2:30pm ET Wednesday is likely to cause volatility in mortgage rates, causing lender repricing and setting the direction for rates over the next few weeks.

03/11/2024

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗠𝗮𝗿𝗰𝗵 𝟭𝟭, 𝟮𝟬𝟮𝟰

𝗟𝗮𝘀𝘁 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗥𝗲𝗰𝗮𝗽: 𝗥𝗮𝘁𝗲𝘀 𝗶𝗺𝗽𝗿𝗼𝘃𝗲𝗱 👍
Mortgage rates remained unchanged for much of last week, moving lower Thursday and Friday on economic and labor market data. Although more jobs were created last month than expected, prior months were revised to have less jobs created than originally reported, with higher unemployment and lower wages in February.

𝗧𝗵𝗶𝘀 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝘄𝗶𝗹𝗹 𝗯𝗲 𝘃𝗼𝗹𝗮𝘁𝗶𝗹𝗲 𝗮𝗻𝗱 𝗰𝗼𝘂𝗹𝗱 𝗺𝗼𝘃𝗲 𝗵𝗶𝗴𝗵𝗲𝗿 ⚠️
This week has a few rate moving reports, with Tuesday's inflation data being the biggest. If you are in process with a mortgage application, you may want to talk with your mortgage pro about locking Monday ahead of this data. There is less risk for loans closing April or later.

🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Inflation data: Tuesday AM brings the CPI inflation data, and traders anticipating it could come in showing inflation continued to heat up in February. Last month's report showed hotter inflation, and mortgage rates moved higher and didn't fall again for three weeks. Thursday brings wholesale inflation, which has much less effect on rates.
- Other economic data: Thursday and Friday bring other economic reports like consumer sentiment and retail sales that could influence mortgage rates to end the week.

03/04/2024

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗠𝗮𝗿𝗰𝗵 𝟰, 𝟮𝟬𝟮𝟰

𝗟𝗮𝘀𝘁 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗥𝗲𝗰𝗮𝗽: 𝗥𝗮𝘁𝗲𝘀 𝘄𝗲𝗿𝗲 𝘂𝗻𝗰𝗵𝗮𝗻𝗴𝗲𝗱 👍
Similar to last week, mortgage rates moved slightly higher through the middle of the week before dropping back on Thursday and Friday to end the week unchanged.

𝗧𝗵𝗶𝘀 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝗰𝗼𝘂𝗹𝗱 𝗶𝗺𝗽𝗿𝗼𝘃𝗲 𝗯𝘂𝘁 𝘁𝗵𝗲𝗿𝗲 𝗶𝘀 𝗿𝗶𝘀𝗸 ⚠️
It may be overly optimistic, but we think rates could improve this week with some help from labor market data and the Fed. However, this data could also push rates higher if it comes in showing a stronger labor market and economy. Remember, mortgage rates can only move lower once markets anticipate Fed rate cuts are more likely to come earlier in the year in June or possibly May, which is not the case right now.

🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Economic data: This week is full of labor market data, starting on Wednesday and wrapping up with Friday's big BLS jobs report. Last month's BLS report showed unexpected labor market strength and sent mortgage rates moving higher through February. Hopefully this month we see revisions to last month's data that shows a much softer labor market.
- The Fed: Fed Chair Jerome Powell will testify in front of Congress this week, as he does twice a year. His comments Wednesday could affect mortgage rates this week.

02/26/2024

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗙𝗲𝗯𝗿𝘂𝗮𝗿𝘆 𝟮𝟲, 𝟮𝟬𝟮𝟰

𝗟𝗮𝘀𝘁 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗥𝗲𝗰𝗮𝗽: 𝗥𝗮𝘁𝗲𝘀 𝘄𝗲𝗿𝗲 𝘂𝗻𝗰𝗵𝗮𝗻𝗴𝗲𝗱 👍
Mortgage rates crept higher through the week last week, but a strong performance on Friday helped to end the week basically unchanged. Faced with the current rate climate, that's a win for the week.

𝗧𝗵𝗶𝘀 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝗰𝗼𝘂𝗹𝗱 𝗺𝗼𝘃𝗲 𝗵𝗶𝗴𝗵𝗲𝗿 👎
This week there's a lot of economic data that markets will be watching that could push mortgage rates higher. If the economic data points to a strong economy, that means it is less likely the Fed will cut rates anytime soon... and that means mortgage rates will suffer for the week.

🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Economic data: This week has a full calendar, with reports every day as well as Treasury auctions through the week that could influence markets and affect mortgage rates. The biggest reports come out Thursday and Friday.
- Month's end: The underlying markets that set mortgage rates could be affected by traders positioning portfolios for month's end.
- The Fed: Rates hit their recent best levels in December when markets thought the Fed would be forced to cut in March or May to avoid doing damage to the economy, but mortgage rates have moved higher now that markets are speculating the Fed won't cut till June or even July.

Address

2151 Michelson Drive Suite 125
Irvine, CA
92612

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Thursday	8am - 8pm
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Sunday	8am - 8pm

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https://scunningham.supremelendinglo.com/, http://www.nmlsconsumer.org/

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