Good news! Last week, mortgage rates reached their best levels in over a month! Let’s break down what caused rates to improve for the second consecutive week and what to watch for in the coming days. Remember the big inflation report from April that sent rates soaring? Well, the good news is the latest report
It’s always fun to report that rates trended slightly lower, according to last week’s report on the survey of average rates published by Freddie Mac. Since that report, rates have been relatively stable; however, with some big economic news coming up, things could get interesting. The Federal Reserve continues to signal they won’t raise rates
Last week was a rough week in markets, especially for mortgage rates. Let’s unpack what’s been happening with interest rates lately. Buckle up, because things are moving fast, and it’s important to understand what these shifts might mean for your homeownership goals. The Inflation Factor Remember how we were hoping inflation was cooling down? Well,
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
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
There’s no way to sugarcoat or put an optimistic spin on the news these days, and the news of mortgage rates is no different. Mortgage rates continue to rise, and we continue to see economic headwinds that don’t give any indication this trend will reverse anytime soon. Listen, I’ve been in the mortgage business for
Don’t look now, but rates continue to rise as geopolitical uncertainty continues to increase due to the conflict in Ukraine and the war in Israel. However, here at home, the economy and incomes continue to grow even as the housing market becomes less affordable. As a result, the housing market is seeing less purchase demand.
As we kick off the fourth quarter of the year, market conditions are not getting better for home buyers as mortgage rates continue to rise and housing inventory remains challenging. Yes, homes are still moving, being bought and sold, and transactions are happening but conditions are not what we’d love them to be. Why? Largely
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
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
