I hope you’re having a great week! I wanted to share a quick update on the latest mortgage and housing market trends, as there’s some interesting news that could benefit you. You might have heard that the Federal Reserve recently held its key interest rate steady, maintaining the Fed Funds Rate at a target range
Hope you’re having a great week! Lots happening in the markets. My purpose with this newsletter is to keep you informed about what’s happening in the market, even when things get a little bumpy. This week, we saw some mixed signals, so let’s break it down. Recent data revealed inflation reared its head again with
Just wanted to give you a quick update on the mortgage market. Just like the drive to grandma’s house for Thanksgiving, it’s been a bit of a bumpy ride lately, but the good news is that rates seem to be stabilizing after that spike we saw in September. Here’s the scoop: — Rates are holding
Good news first…mortgage rates continued to improve last week; however, we saw some conflicting signals that are impacting rates: The Fed: Higher for Longer, But Maybe Not Forever The Federal Reserve met last week and surprised many by indicating they might not cut rates as much as previously expected. While they’re sticking to their plan
The positive economic readings of the last week – like robust retail sales, low unemployment, and healthy GDP (gross domestic product) – caused rates to tick up slightly, according to the latest survey of average rates by Freddie Mac. However, rates remain in a narrow range, not bouncing around too much. According to Sam Khater,
As expected, the Fed raised their key interest rate at their meeting last week. Fed Chair Powell commented after the announcement that they will be monitoring conditions and will raise again in September if conditions warrant. We’ll see. He said they’ll be watching the inflation numbers and two jobs reports that come out in the
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
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
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,
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
