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
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
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
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
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
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
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
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
Happy to report that last week, the Fed did not raise its interest rate, and long-term interest rates, such as mortgages, leveled off. According to the latest look at average mortgage rates, they’ve improved to their best levels in a month. But what happens next? Well, it partly depends on what the Fed does next,
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
