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Our passion is helping our clients finance and purchase the home of their dreams!
Jobs + Delta + Inflation = Wild Ride for Rates
It’s been a little bit of a wild ride for rates over these past few days. Last week, before the jobs report was released, the survey of average rates showed the 30-year and 15-year dropping to levels not seen since early 2021. However, following Friday’s robust jobs report showing almost 1 million people returning to
Important Jobs Report This Week, Even as Rates Improve…
We’re seeing some wider swings in markets so far this week as we await an important jobs report on Friday, and concern grows over covid variants, all of which is affecting bonds and mortgage rates this week. Last week, mortgage rates moved mostly sideways according to Freddie Mac’s latest survey of average rates and so
Yes, now is an amazing time to buy…and here’s why
Fortunately for home buyers, even as home prices continue to appreciate, mortgage rates are trending lower as the economy continues to mend despite concerns around the pandemic and its trajectory. According to the latest survey of mortgage rates by Freddie Mac, the average rates for both the 30-year and 15-year average dropped .10 percent just
Rates improve for the 3rd week in a row!
Luckily for the summer home-buying frenzy, mortgage rates have continued to decline. In fact, according to Freddie Mac’s weekly survey of average rates, since their peak in April, mortgage rates have declined by .30 percent. Not bad! But how long will this last? It’s an interesting question because many market experts believe rates are remaining
Nice surprise to see a slight improvement in rates last week!
Well, this is a nice surprise! I get to report that last week, average mortgage rates improved for both the 30-year fixed and 15-year fixed, according to Freddie Mac’s weekly survey of rates. So, what gives? We saw the yield percentage on the 10-year Treasury fall and when that happens, often mortgage rates will follow
Quiet, post-holiday week…but what about rates?
I hope you had a nice, long holiday weekend and got to enjoy some summer fun and festivity! As we get the week rolling, markets continue to digest Friday’s Jobs Report where we saw a much more robust than expected number for new job creation. Payrolls rose 850,000 in June, above the consensus of 703,000.
Important Jobs Report this week…what about rates?
The strengthening economy and elevated inflation pushed mortgage rates slightly higher last week, according to Freddie Mac’s weekly survey. “Mortgage rates have risen above three percent for the first time in ten weeks,” said Sam Khater, Freddie Mac’s Chief Economist. “…we expect that rates will continue to gradually rise in the second half of the
Fed finally acknowledges inflation…what’s this mean for you?
There are some interesting developments happening in markets that have the potential to affect mortgage rates that I want you to be aware of. First of all, in the statement following the end of their meeting last week, the Fed finally acknowledged growing inflation that they now expect to continue for the rest of this
Some head-scratching over inflation’s effect on mortgage rates
Last week’s market and mortgage rate movement has many experts scratching their heads, and here’s why. First, we saw the core rate of consumer inflation (CPI) come in much higher than expected at 3.8 percent. Normally, higher inflation sends mortgage rates higher, but according to the latest survey of mortgage rates, they improved slightly, hence
What it means for you that CA records highest home appreciation rates since 2013
Listen up…or read up…if you are a California homeowner, you need to know that the median price of homes in Cali is up 34 percent! This is the highest recorded annual home appreciation rate since 2013. What does this mean for you? If you are currently paying Mortgage Insurance as part of your monthly payment,
