Author Archives: Victoria Kellogg

An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

Mortgage Rate Reverse Course and Show Improvement!

Home buyers got a nice surprise last week as we saw mortgage rates improve just enough to draw interested buyers back into the market. And as we’ve seen in recent months, when rates improve, mortgage applications rise and this past week was no exception. According to the weekly survey of average mortgage rates published by Freddie

Read More

An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

Important Jobs Report Coming Out This Week!

The upward trend that we’ve seen for rates over the last four weeks continued last week, according to the latest survey of average mortgage rates by Freddie Mac. Fortunately, the inflation data that came out last week – the PCE Index, which is the Fed’s favorite gauge of inflation – met expectations at 2.8 percent

Read More

An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

Fed’s Meeting Minutes Cause an Unexpected Stir

Usually, the release of the Fed Minutes is a minor affair, however, last week was a different story as markets try and figure out what the Fed’s next moves are going to be. Not too long ago, traders expected the Fed to start cutting rates at their March meeting, which could have helped mortgage rates

Read More

An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

Volatility in Rates and Markets Increases

Well, wouldn’t you know it, as soon as we start enjoying improved rates as we head into the Spring home buying season, the latest CPI (consumer price index) report spooks the bond and mortgage markets, and rates rise for the week. According to the latest survey of average rates by Freddie Mac, the rate for

Read More

An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

Seeing Lotsa Volatility

Although mortgage rates have remained in a rather narrow range throughout the beginning of this year, we’ve seen a great deal of volatility as interest rates in the larger economy have moved all over the place since 2024 started. What’s going on that’s driving this volatility? By the looks of it, much of the volatility

Read More

An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

Jobs Report Last Week Caused Quite a Stir!

Wow, what a wild ride for mortgage rates last week! Let’s unpack what happened and what it means for you.  First, the Fed meeting adjourned on Wednesday afternoon, and as expected, they paused a hike of its key interest rate (called the Fed Funds Rate). The bond market reacted favorably, and as a result, mortgage

Read More

An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

Lots of Factors at Play in Markets This Week…

The positive economic readings of the last week – like robust retail sales, low unemployment, and healthy GDP (gross domestic product) – caused rates to tick up slightly, according to the latest survey of average rates by Freddie Mac. However, rates remain in a narrow range, not bouncing around too much.  According to Sam Khater,

Read More

An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

Rates Bouncing Around but Basically the Same…

Mortgage rates have bounced around a bit over the past week, but still staying in a rather narrow range. However, whether this range is the highest rates will be in the near term or the lowest they’ll be in the near term depends on a few factors – most recent moves in the markets have

Read More

An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

Mortgage Rates, Market Trends, and Your Next Home

Mortgage rates continued to move sideways this last week, according to the latest survey of average rates published by Freddie Mac. After watching average mortgage rates drop by more than a percentage point in October and December, we all got excited to see rates continue to fall, but they haven’t. They also haven’t gone back

Read More

An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

How the Housing Market Is Shaping up This Year…

As we settle into the new year, mortgage rates continue to move sideways after seeing significant improvement between late October and mid-December. Also, the 30-year fixed rate is only slightly higher, by .14 percent higher than this time a year ago, according to Freddie Mac’s survey of average mortgage rates. Friday, the latest Jobs Report

Read More