Tag Archives: mortgage news

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Shifting Continues in Housing + Jobs Report Friday

Mortgage rate volatility is still a thing as we saw rates whipsaw higher last week. Average rates as reported by Freddie Mac’s weekly survey showed a .42 percent increase for the 30-year fixed and .30 percent rise for the 15-year, which is a greater than typical move in rates.  The data coming in continues to

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Good News on Rates & Inflation!

Believe it or not, I actually have some good news to report when it comes to inflation and mortgage rates. First, mortgage rates improved a little last week, according to the latest survey of average mortgage rates reported by Freddie Mac. Now, as we know rates can be volatile and I don’t believe this is

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An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

Important Jobs Report Comes Out This Week…

As we kick off a new month, we’re seeing further evidence of the normalizing of the housing market. Yes, there’s still lots of doom and gloom in the media about housing. No, we don’t like change and uncertainty in the markets, but the truth is the housing market is becoming increasingly favorable for buyers. No,

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An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

Rates Pause Upward Trend & Jobs Report This Week

Hope you had a fantastic Fourth of July holiday! As the possibility of recession increases based on the latest GDP (gross domestic product) data released and high inflation, mortgage rates paused their upward trend last week, even showing slight improvement. This pause should help the housing market rebalance to a more normal pace of home

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An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

Rates Take a Breather Last Week, but Back at It to Start This Week…

Last week mortgage rates had their best week in terms of improvement since early March, which offered a breather from rising rates and opportunities to lock in slightly lower rates. The catch is that overall for March, rates are at their highest levels since 2018.  This week’s rates have continued their move higher making it

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An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

As We Expected, Rates Continue March Higher as Inflation Increases

The average rate for a 30-year fixed-rate mortgage rose last week, exceeding four percent for the first time since May 2019, according to Freddie Mac’s weekly survey of rates. We continue to see inflation climb and thus rates are expected to do the same. No one likes to see mortgage rates rising, however, there are

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An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

Market-Moving Jobs Report Coming Out Friday

This week, mortgage rates have taken a breather and have effectively stayed flat, according to the latest survey of average mortgage rates published by Freddie Mac. After last week’s volatility and further volatility expected later this week with the release of the latest Jobs Report, this is a welcome respite. The housing market continues to

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An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

Considering a Second Home? Important Update!

Thanks to a tight labor market and rising inflation rates, mortgage rates moved higher last week amidst market volatility. According to the latest survey put out by Freddie Mac, average mortgage rates trended up to levels not seen since May 2020. We have yet to see any effect on demand for homes given the growth

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