The average rate for a 30-year fixed-rate mortgage rose last week, exceeding four percent for the first time since May 2019, according to Freddie Mac’s weekly survey of rates. We continue to see inflation climb and thus rates are expected to do the same. No one likes to see mortgage rates rising, however, there are
As we continue to watch events unfold in Ukraine and rising inflation here at home, the volatility in markets and mortgage rates continues. And in addition to the already skittish markets, we’ve got an important Fed Meeting this week. Following two weeks of declines, the latest trend in mortgage rates, as reported by Freddie Mac
As we watch the horrific scene unfolding in Ukraine our hearts go out to those fighting for and fleeing their country. Please join me in sending prayers and support to those affected. This geopolitical tension has destabilized markets here and led to investors seeking safer places to put their money, which means moving out of
Lots to unpack in this update to help you understand what’s happening globally and how it trickles down to affect the mortgage rate you could be paying on your next home finance or refinance. As you know, the Russian-Ukrainian conflict continues and looks to be escalating. The stock market doesn’t like the geo-political uncertainty, especially
We are tracking lots going on here at home and globally that are creating more volatility than normal in markets and mortgage rates. Last week we saw mortgage rates rise again thanks to high inflation numbers and stronger than expected consumer spending. The average rate trend for the 30-year fixed mortgage is nearing four percent,
Before we dive into what’s happening this week, I’ve got some BIG news! We are now doing loans in the state of Colorado! If you or someone you know is in the market, we’d love to help you out. And now back to your weekly update… Last week was a wild week once again as
Hold on to your hats, this could be a wild week in the bond market and for the mortgage rate trend. After a much more robust than expected Jobs Report last Friday that showed higher than expected wage inflation, bond prices fell, which in turn led to higher mortgage rates. Average mortgage rates are now
This week, mortgage rates have taken a breather and have effectively stayed flat, according to the latest survey of average mortgage rates published by Freddie Mac. After last week’s volatility and further volatility expected later this week with the release of the latest Jobs Report, this is a welcome respite. The housing market continues to
First, let me start with an important announcement…for all newly originated second home and high balance mortgages the fees are going up substantially for all loans locked in after February 9th. So, if this might be you and you’re thinking of purchasing this year, please reach out to me right away so we can save
Fortunately, we did not see bond markets react too drastically over last week’s inflation report revealing prices at the consumer level have increased 7 percent, outpacing wage increases. You’d have to go back 30-40 years to see inflation at these levels! And, we’re expecting it to continue at least for the next couple of months
