Last week we saw evidence – in the reports on consumer and wholesale prices – that inflation continues to rise and as we know, this can often cause a rise in rates. This seems to be the case as the latest survey on average mortgage rates, published by Freddie Mac, reported that the average rate
We’ve had some surprises in the last week that have thrown markets for a loop and created some uncertainty and volatility. Friday’s jobs report was a much greater stinker than expected. New job creation rose just 194,000, a disappointing performance compared to the median expectation of 475,000. Markets are also reacting to rising economic and
Following the Fed’s talk about tapering its bond buying purchases – which help mortgage rates stay low – the 10-year Treasury yield and in turn mortgage rates rose last week. According to Freddie Mac’s latest survey, the average rates for a 30-year mortgage rose .13 percent. We’ve seen greater volatility in rates this week with
Going into last week’s Fed Meeting, mortgage rates had remained steady for the past couple months. We’ve watched U.S. Treasuries becoming more popular with foreign investors as the global economy has struggled to recover amidst the pandemic. This has helped mortgage rates stay low, along with the Fed’s stimulus buying of mortgage backed securities. Well,
We’re going on two months now that we’ve seen mortgage rates remain mostly flat. Analysts see this as evidence that markets are leery of the prospects of a robust economy roaring back anytime soon due to rising covid cases and how this pandemic is going to shake out. And of course the Fed’s bond buying
Even as the economy continues to improve, it’s lost some of its momentum over the past couple of months as the latest wave of COVID cases has been a drag on employment, consumer spending and consumer confidence. On the positive side, mortgage rates have remained steady offering homebuyers and those still wanting to refinance added
Hope you had a fantastic Labor Day! As we head into fall, we see that the housing market remains strong thanks to a growing economy and continued purchase demand. Home prices remain stable, but thankfully inventory is improving modestly. As for mortgage rates, the latest survey by Freddie Mac reports that average rates for both
Looks like things have settled down for rates as they remained relatively flat last week, according to the latest weekly survey published by Freddie Mac. What’s not remaining flat is home sales as a report already released this week shows home sales beating expectations! This week, however, we have even more housing data coming out
It’s been a little bit of a wild ride for rates over these past few days. Last week, before the jobs report was released, the survey of average rates showed the 30-year and 15-year dropping to levels not seen since early 2021. However, following Friday’s robust jobs report showing almost 1 million people returning to
We’re seeing some wider swings in markets so far this week as we await an important jobs report on Friday, and concern grows over covid variants, all of which is affecting bonds and mortgage rates this week. Last week, mortgage rates moved mostly sideways according to Freddie Mac’s latest survey of average rates and so
