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
As we’ve seen mortgage rates continue to drop, now, for the fifth week in a row, buyers are beginning to come back in the housing market, as reflected in the rise of applications for new mortgages. Signs are also showing up in the wider market to support mortgage rates improving, like the 10-year Treasury yield
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
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
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
Well, even though August is vacation time for many, me included, mortgage rates have not taken a vacation from hiking higher. For the third week in a row, rates have risen bit by bit, according to Freddie Mac’s weekly survey of average rates. Yes, it makes homes less affordable, but rates rise as a result
A big Fed Meeting this week had traders and markets holding their collective breaths. The latest inflation readings show consumer prices increasing at the smallest rate in more than two years. Analysts were hopeful that the Fed would pause their rate increases, which they announced today they would pause interest rate increases. Mortgage rates barely
Even though inflation is showing signs of slowing down, it’s still negatively affecting the economy and because of that, we saw mortgage rates improve for the fifth consecutive week, according to Freddie Mac’s weekly survey. Improving rates along with a robust job market are fueling optimism for a brisk spring homebuying season. If you are
