I hope you’re having a fantastic week. It’s hard to believe we’re already at the beginning of October! The big news this week was the Fed’s recent rate cut, which you would think would lead to lower mortgage rates, right? Well, that’s where things get interesting. After the Fed’s announcement, mortgage rates actually crept up
I hope you’re having a wonderful week! The past 7 days have been a whirlwind. It feels like every day brings a new piece of news, from the Federal Reserve’s big announcement to the latest on mortgage rates. I wanted to take a moment to break it all down for you in a simple, straightforward
The mortgage market is currently in an interesting place, with rates dipping to their lowest level in 10 months. But with the annual Jackson Hole Symposium right around the corner, there’s a lot to watch for. What’s Happening with Rates? The 30-year fixed-rate mortgage fell by .05 percent for last week, according to Freddie Mac.
Hope you’re doing well! Things have been buzzing in the mortgage world, so I wanted to share some insights and keep you in the loop. Interest Rates: A Bit of a Rollercoaster Remember those low rates back in September? We’re still a bit higher than that, but the good news is they seem to be
Last week, at the wrap-up of their meeting, the Fed delivered the gift the markets have been asking for, a decision to pause interest rate hikes and bond-friendly remarks about the economy. As a result, mortgage rates tumbled, improving to levels not seen in many months. “Given inflation continues to decelerate and the Federal Reserve
So much to be thankful for this Thanksgiving, including a third straight week of improving mortgage rates, making right now an incredible opportunity to pop back into the housing market if you’ve been waiting on the sidelines. Rates have improved, but we haven’t yet seen a rush of home buyers increasing competition and prices as
Last week’s biggest economic headline centered on inflation news and the consumer price data that came out showing the CPI (consumer price index) rising by 0.6 percent for the month, higher than expected. The main reason? Energy prices, mainly oil prices, which, if you’ve been to the gas station recently, is no surprise. The core
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
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
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
