As we head into a shortened week due to the July 4th holiday, I wanted to bring you up to speed on the latest in the mortgage market. It’s been an interesting period, with several key factors influencing interest rates. Good news for borrowers: interest rates have dipped slightly again! The 30-year fixed-rate mortgage (FRM)
Hope you’re having a great week! Here’s your update on what’s happening in the markets because it’s certainly been an interesting time. Good news first: we’ve seen mortgage rates continue their downward trend, hitting their lowest levels in four months! As of February 27th, Freddie Mac’s weekly survey reported the 30-year fixed-rate mortgage trended lower
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
Happy New Year! May 2024 be your best year yet! On that note, if you’re planning a home purchase, mortgage rates have dropped to their best levels since last May. And interestingly, the 10-year Treasury Note – which mortgage rates often follow – ended 2023 at similar levels as it started 2023. Mortgage rates behaved
As we’ve seen mortgage rates continue to drop, now, for the fifth week in a row, buyers are beginning to come back in the housing market, as reflected in the rise of applications for new mortgages. Signs are also showing up in the wider market to support mortgage rates improving, like the 10-year Treasury yield
The markets and mortgage rates, too, have been on a seesaw ride of volatility as high-impact economic data and geopolitical events in Israel have increased uncertainty about the economy and the Fed’s next move. Let’s break it down… As you know, last week, we saw a parade of employment reports come out, which can often
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
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
Like a gift that shows up just in time, mortgage rates showed improvement for the third week in a row, offering the gift of greater opportunity and affordability for home buyers venturing out for this year’s peak home-buying season. According to Freddie Mac’s latest survey of average rates, the 30-year fixed rate improved by .10
Just in time for Thanksgiving last week, rates ticked lower by a nice margin, providing a welcome improvement for buyers ready to lock in. In fact, rates have been hovering near 2-month lows! By the way, if you would like me to be watching mortgage rates for you, let’s talk and figure out the best
