Tag Archives: housing market

An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

Navigating the Rate Rollercoaster: A Market Update

If the past few weeks have felt like a whirlwind with interest rates, you’re not alone. Let’s break down what’s been happening and what it means for your home financing goals. The Fed Factor Remember when the Fed hinted at those juicy rate cuts for 2024? Well, surprise, surprise, things change fast! Inflation reports came

Read More

An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

Market’s Seek Direction From This Week’s Fed Meeting

Sticky inflation and increasing U.S. debt contributed to mortgage rate volatility that had rates showing improvement mid-week, but moving higher by week’s end.  The CPI (consumer price index) came in higher than expected last week, with housing and energy costs making the biggest splash. Not only did the higher inflation spook markets, but pushed the

Read More

An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

Mortgage Rate Reverse Course and Show Improvement!

Home buyers got a nice surprise last week as we saw mortgage rates improve just enough to draw interested buyers back into the market. And as we’ve seen in recent months, when rates improve, mortgage applications rise and this past week was no exception. According to the weekly survey of average mortgage rates published by Freddie

Read More

An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

Important Jobs Report Coming Out This Week!

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

Read More

An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

Fed’s Meeting Minutes Cause an Unexpected Stir

Usually, the release of the Fed Minutes is a minor affair, however, last week was a different story as markets try and figure out what the Fed’s next moves are going to be. Not too long ago, traders expected the Fed to start cutting rates at their March meeting, which could have helped mortgage rates

Read More

An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

Jobs Report Last Week Caused Quite a Stir!

Wow, what a wild ride for mortgage rates last week! Let’s unpack what happened and what it means for you.  First, the Fed meeting adjourned on Wednesday afternoon, and as expected, they paused a hike of its key interest rate (called the Fed Funds Rate). The bond market reacted favorably, and as a result, mortgage

Read More

An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

Rates Bouncing Around but Basically the Same…

Mortgage rates have bounced around a bit over the past week, but still staying in a rather narrow range. However, whether this range is the highest rates will be in the near term or the lowest they’ll be in the near term depends on a few factors – most recent moves in the markets have

Read More

An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

How the Housing Market Is Shaping up This Year…

As we settle into the new year, mortgage rates continue to move sideways after seeing significant improvement between late October and mid-December. Also, the 30-year fixed rate is only slightly higher, by .14 percent higher than this time a year ago, according to Freddie Mac’s survey of average mortgage rates. Friday, the latest Jobs Report

Read More

An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

The Fed’s Holiday Gift…

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

Read More

An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

Check Out This Six-Pack…Weeks of Rates Improving, That Is!

For now the sixth week in a row, mortgage rates continue to improve, according to the weekly survey of average mortgage rates published by Freddie Mac. Signs are showing buyers returning to the market but not yet in droves. For savvy buyers, now might be an opportune time to be in the market! Part of

Read More