Tag Archives: housing market

Pacific Financial Mortgage

Fed finally acknowledges inflation…what’s this mean for you?

There are some interesting developments happening in markets that have the potential to affect mortgage rates that I want you to be aware of. First of all, in the statement following the end of their meeting last week, the Fed finally acknowledged growing inflation that they now expect to continue for the rest of this

Read More

Pacific Financial Mortgage

Some head-scratching over inflation’s effect on mortgage rates

Last week’s market and mortgage rate movement has many experts scratching their heads, and here’s why. First, we saw the core rate of consumer inflation (CPI)  come in much higher than expected at 3.8 percent. Normally, higher inflation sends mortgage rates higher, but according to the latest survey of mortgage rates, they improved slightly, hence

Read More

Pacific Financial Mortgage

Important Jobs Report Friday

As a nice kick-off to summer, the survey of average mortgage rates showed a little improvement last week as we headed off for the long Memorial Day Weekend. According to Freddie Mac’s weekly survey, average mortgage rates fell by .05 percent in their survey.  There’s lots of talk in the media about housing and whether

Read More

Pacific Financial Mortgage

Why’s it hard to buy now? Housing market is as hot🔥 as the Summer Sun!😎

This week, as we head into the unofficial start of summer with the Memorial Day Holiday, I want to pause and honor all those and their families that have served our country with their military service. Thank you and we honor you! I hope you all have a fabulous long weekend and that wherever you

Read More

Pacific Financial Mortgage

More inflation than expected showing up in the economy…

The big story since last week’s update has been inflation. With the economy reopening and the demand for goods and services increasing over these last few months, prices (thus inflation) have been rising. This also means that prices for mortgages – in the form of the interest rate – may rise as well.  This is

Read More

Pacific Financial Mortgage

We Actually Saw Mortgage Rates Drop a Little in Last Week’s Survey

Surprisingly, we actually saw mortgage rates drop a little last week, after seven consecutive weeks of increases, according to the latest survey of average rates put out by Freddie Mac. This week, however, could be a bit of a rocky road as we get more inflation news.  The flow of stimulus money into the economy

Read More

Pacific Financial Mortgage

Optimism in Job Market and Economy Urging Rates Higher

Hope you are having a great week! We saw mortgage rates remain rather steady last week, even in the face of a very encouraging and robust Jobs Report. Friday’s report on the nation’s employment picture showed new job creation come in just shy of 1 million while the unemployment rate ticked lower and the number

Read More

Pacific Financial Mortgage

Housing Strong, Even as Rates Continue to Tick Higher

The demand for homes continues to show strength as Americans’ idea of ‘home’ has shifted during this pandemic. Demand still outpaces supply, even as the average mortgage rates rise, according to the latest survey published by Freddie Mac.  This week will likely be an exciting ride for markets and mortgage rates as we see the

Read More

Pacific Financial Mortgage

Housing Market Expecting Brisk Spring Home Buying Season, Despite Rates

Mortgage rates continued to inch higher last week according to Freddie Mac’s weekly survey of rates. We expect to see this trend continue as the yield on the 10-year Treasury bill moves higher as well. Despite rates moving a little higher, the housing market continues to be red hot and experts are predicting a brisk

Read More

Pacific Financial Mortgage

Mortgage rates continued trend higher this week…

Last week was quite the roller coaster ride for markets as the 10-year Treasury bond yield rose, pushing mortgage rates slightly higher with it. Inflation concerns were the main factor. According to Freddie Mac’s weekly survey of average mortgage rates, the average rate for a 30-year mortgage rose just .03 percent as optimism about the economy, vaccination rates, and additional government stimulus on the way fueled inflation fears.