In this June 12 episode of Real Estate Jerky Daily, Ed Parcaut and Mike Kelly break down local housing activity, California market numbers, VA mortgage pricing, wage growth, and the economic reports that could move rates next week.

The local Stanislaus County market remained active, with closings increasing from earlier in the week and pending sales continuing to hold above 400. Ed and Mike also review California housing activity, including daily closings, pending transactions, days on market, and the percentage of sellers reducing their asking prices.

One of the most important mortgage topics in this episode is the difference between a VA loan within the conforming loan limit and a VA loan just above that threshold. Ed explains that crossing into jumbo VA pricing can create a significant rate difference. In one real-world scenario, a borrower could potentially contribute additional funds to stay below the limit and save close to half a percentage point on the interest rate.

Ed also covers the Atlanta Federal Reserve Wage Growth Tracker. Wage growth continued to slow for both employees staying in their current jobs and workers changing employers. The premium for switching jobs is now much smaller than it was a few years ago.

The episode concludes with a preview of next week's economic calendar, including industrial production, housing starts, ADP employment, mortgage applications, retail sales, pending home sales, jobless claims, and the Federal Reserve meeting.

Subscribe to Real Estate Jerky Daily for local market updates, mortgage education, VA loan insight, and economic news with teeth.

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