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Our passion is helping our clients finance and purchase the home of their dreams!
How Oil Prices on the Rise Could Affect Rates
Mortgage rates improved but just by a tiny bit last week, according to the weekly survey of average rates released by Freddie Mac. The economy remains strong, and inflation has eased, but there are concerns by economists that inflation may be headed up again, thanks to rising oil prices. If you’ve been to the pump
When ‘Bad’ News Is Good News…
Last week’s ‘bad’ news is good news for mortgage borrowers as we saw a nice improvement in rates. The weekly survey of average mortgage rate published by Freddie Mac showed rates breaking their momentum higher following worse than expected news from a leading indicator in the job market, inflation, and consumer confidence. The JOLTS report,
Jobs and Lots of Important Reports Coming Out This Week…
If you’ve been following economic news, then you likely have seen the headlines that mortgage rates continue to climb. According to Freddie Mac’s most recent survey of average rates, published last week, the 30-year rate has risen to its highest level since 2001. This precipitous climb over the past few weeks has come largely as
Rates Rising as Fed Heads to Jackson Hole
A normally innocuous event last week sent mortgage rates higher. The opening line of the Fed’s Meeting Minutes, “uncertainty of the U.S. economic outlook remains elevated…” confirmed for traders that we still don’t have certainty about the direction of inflation. Uncertainty and inflation are two of the arch enemy’s of mortgage rates, and when they
Economy Remains Resilient and Fun Fact About Women and Homeownership!
Well, even though August is vacation time for many, me included, mortgage rates have not taken a vacation from hiking higher. For the third week in a row, rates have risen bit by bit, according to Freddie Mac’s weekly survey of average rates. Yes, it makes homes less affordable, but rates rise as a result
Fed Raised Its Key Interest Rate at Meeting Last Week
As expected, the Fed raised their key interest rate at their meeting last week. Fed Chair Powell commented after the announcement that they will be monitoring conditions and will raise again in September if conditions warrant. We’ll see. He said they’ll be watching the inflation numbers and two jobs reports that come out in the
Important Fed Meeting Turns Out as Expected
Last week’s favorable report on consumer inflation helped mortgage rates improve nicely just in time for the release of Freddie Mac’s weekly mortgage rate report. In it, we saw a healthy decrease in average mortgage rates for both 30-year and 15-year fixed-rate loans. However, that was last week and this is this week. This week
How Inflation Affects Mortgage Rates
Last week’s inflation data showed a further slowing in the pace of inflation, which is good news for the growth and health of the economy. Since we’re discussing inflation, I thought I’d take this opportunity to remind you of the relationship between inflation and mortgage rates. In general, higher inflation also means the price of
Economy Is Looking Strong…but So Are Rates
This week is a case of good news, bad news. Good news is that the economy is proving to be resilient and the housing market strong. The downside of this situation is that inflation continues to persist, a factor that is pushing mortgage rates higher. The robust housing market is also causing inventory to be
Rates Remaining Steady During Dog Days of Summer
This time of year, with summer and long holiday weekends it seems the markets and even rates move sideways and this week has been no exception. In fact, “Mortgage rates have hovered in the six to seven percent range for over six months and, despite affordability headwinds, homebuyers have adjusted and driven new home sales
