Tag Archives: mortgage news

Pacific Financial Mortgage

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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Pacific Financial Mortgage

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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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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Pacific Financial Mortgage

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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Pacific Financial Mortgage

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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Pacific Financial Mortgage

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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Pacific Financial Mortgage

Loan Limits Have Gone UP for 2022…What This Means for YOU

Okay, friend, lots to cover in this short update. First, mortgage rates have continued to remain pretty stable, despite lots of turmoil and uncertainty in markets due to the stinker Jobs Report on Friday – more on that in a bit – and the uncertainty around the latest virus variant.  And…in big, exciting news for YOU…Loan

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Pacific Financial Mortgage

Lower Rates + Important Jobs Report this week…

I hope you had a wonderful Thanksgiving holiday surrounded by those you love! Of course, now we’re back at it and there’s lots happening in markets this week. We got an early pre-Thanksgiving Day look at the trend in interest rates, thanks to Freddie Mac’s weekly survey. Rates have remained rather steady in recent weeks,

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Pacific Financial Mortgage

Markets Can No Longer Ignore This…

News of rising inflation pounded markets that had previously been shrugging it off month after month thinking it was “transitory” as the Fed called it. Well, last week’s reports on consumer prices showed them rising an unexpected 6.2 percent year-over-year, a level that traders could no longer ignore. Since then, rates have risen in response as bond investors watched

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