The last week since we were last here has been a little crazy! Here’s what’s happened. First, as you know, last week, the Fed had a meeting. On Wednesday, as expected, they announced that there was no change in the Fed Fund Rate, the interest rate they set. Then all heck broke loose with Fed
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
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
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
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
Even as we see the average mortgage rates continue their trend higher, according to Freddie Mac’s weekly survey, data continues to show the strength of the housing market. Yes, there is still re-balancing happening in housing; and yes, of course rising rates are impacting affordability and buyers’ decisions. However, people are still buying homes, selling
As we kick off a new month, we’re seeing further evidence of the normalizing of the housing market. Yes, there’s still lots of doom and gloom in the media about housing. No, we don’t like change and uncertainty in the markets, but the truth is the housing market is becoming increasingly favorable for buyers. No,
Hope you had a fantastic Fourth of July holiday! As the possibility of recession increases based on the latest GDP (gross domestic product) data released and high inflation, mortgage rates paused their upward trend last week, even showing slight improvement. This pause should help the housing market rebalance to a more normal pace of home
