As the tug of war between inflation pressures and a slowdown in the economy leave mortgage rates in a volatile trend, Freddie Mac’s weekly survey of average rates showed that rates experienced an impressive improvement last week. However, most of those gains have been erased as markets digest Friday’s Jobs Report and other strong data
Average mortgage rates had dropped nicely, by half a percent, as of last week’s mortgage rate survey published by Freddie Mac, on continued worries over a possible recession coming this year. However, by week’s end, with strong enough economic data – especially a stronger than expected Jobs Report, rates reversed course ending higher. Yes, markets
It’s in times like these, with rates moving consistently higher, it makes publishing this weekly newsletter difficult because I wish I had some fantastically good news to share with you. BUT, I actually do have some good news and some real talk too. First, we saw some slight improvement in rates last week, which has
As we continue to watch events unfold in Ukraine and rising inflation here at home, the volatility in markets and mortgage rates continues. And in addition to the already skittish markets, we’ve got an important Fed Meeting this week. Following two weeks of declines, the latest trend in mortgage rates, as reported by Freddie Mac
As we watch the horrific scene unfolding in Ukraine our hearts go out to those fighting for and fleeing their country. Please join me in sending prayers and support to those affected. This geopolitical tension has destabilized markets here and led to investors seeking safer places to put their money, which means moving out of
Lots to unpack in this update to help you understand what’s happening globally and how it trickles down to affect the mortgage rate you could be paying on your next home finance or refinance. As you know, the Russian-Ukrainian conflict continues and looks to be escalating. The stock market doesn’t like the geo-political uncertainty, especially
We are tracking lots going on here at home and globally that are creating more volatility than normal in markets and mortgage rates. Last week we saw mortgage rates rise again thanks to high inflation numbers and stronger than expected consumer spending. The average rate trend for the 30-year fixed mortgage is nearing four percent,
Before we dive into what’s happening this week, I’ve got some BIG news! We are now doing loans in the state of Colorado! If you or someone you know is in the market, we’d love to help you out. And now back to your weekly update… Last week was a wild week once again as
