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Will Rates Stay Steady Despite All This Data?
As we wrap up June, the third quarter, and the first half of the year, mortgage rates are holding steady, as they have been for most of the month of June. This month looks to be ending as the least volatile month in well over a year. For analysts, this absence of much movement signals
Rates in Holding Pattern Following Fed Decision
As we begin a holiday-shortened week due to the Juneteenth Holiday, we saw rates end last week taking pause as markets digest the events of last week including the Fed pausing its rate hikes and giving some clues as to what it will do in the future. There was also interesting inflation data and lots
Intriguing Inflation Data and Big Fed Meeting This Week…
A big Fed Meeting this week had traders and markets holding their collective breaths. The latest inflation readings show consumer prices increasing at the smallest rate in more than two years. Analysts were hopeful that the Fed would pause their rate increases, which they announced today they would pause interest rate increases. Mortgage rates barely
Rates Flat This Week Ahead of Fed & CPI Next Week
By the end of last week, thanks to a robust jobs report, mortgage rates have trended higher based on positive news about the economy. The likelihood has increased that the Fed will raise interest rates at its next meeting. According to Freddie Mac’s lead economist, Sam Khater, the demand for home purchases has been steady,
Rates Showing Improvement Following the Holiday Weekend!
Mortgage rates dropped nicely to start this holiday-shortened week after they’ve been moving higher, especially before the holiday weekend. According to Freddie Mac’s weekly survey, the U.S. economy is showing resilience, and combined with concerns about the debt ceiling, mortgage rates have pushed higher, until this week where we’ve seen some improvement so far. In
New Home Sales Reach a 13-Month High!
Continuing their sideways trend, mortgage rates hung out within the same .10 percent range over the last week, according to Freddie Mac’s weekly survey of average rates. Analysts are finally seeing the issues over the debt ceiling to have a visible impact on longer-term bonds, which may translate to lower interest rates. We’ll have to
Mortgage Rates Move to a Narrow Range
Over the past week, mortgage rates have continued to move in the narrow range I’ve been talking about. When Freddie Mac’s survey came out late last week, average rates for the 30-year and 15-year fixed-rate mortgages were down. Then after some encouraging pieces of the Retail Sales report, which showed online sales rising to their
Rates on Flattest Trend We’ve Seen in a Long Time
Rates remain in the flattest trend they’ve seen in a long time. It may not seem like it if you’re looking at the up and down gyrations of rates day to day, but the trend since Q4 2022 has been in and around the mid-6 percent level for a 30-year fixed rate mortgage, for the
Rates Ping-Pong as Market Waits on Fed & Jobs
Just since Thursday’s release of Freddie Mac’s survey of average mortgage rates we’ve seen rate volatility bounce up and down like a ping-pong ball. Freddie Mac’s survey reported a moderate increase in rates for the week. Friday showed a little improvement, then Monday we saw a sell-off in the bond market, which caused rates to
Fed Meeting Coming, Leading to Some Volatility
Market uncertainty and shifting expectations led to a turnaround in mortgage rates last week. Freddie Mac’s weekly survey reported an increase in the average rates for the 30-year fixed and 15-year fixed. As of the writing of this email, rates are trending toward improvement…but as you know, can change at any time. With an impending
