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,
This should be an interesting week in markets as we have an important Fed Meeting coming up, adjourning mid-week, among a slew of high-impact economic and housing reports. Yes, we’re hearing much drama in the media about housing and whether bubbles are bursting or not. Although none of us knows the future, what I do
Volatility reigned in mortgage rates last week as signs point to slower economic growth due to inflation. According to Freddie Mac’s weekly survey of average rates, the 30-year fixed ticked higher by .21 percent. So far this week has been a bit quieter with the volatility staying in a narrow range. As for the housing
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
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
As summer arrives, we’re still seeing mortgage rates climb and the housing market continues to transition to a more balanced environment between buyers and sellers. According to Freddie Mac’s latest survey of average mortgage rates, the 30-year and 15-year are both up slightly for the week. However, last week was significantly calmer in terms of
Well, after taking a breather for a few weeks, rates surged last week following shifting inflation expectations and the change in Fed policy regarding inflation. According to the latest survey of averages by Freddie Mac, rates for the average 30-year fixed-rate loan are up .55 percent. We’re also continuing to see signs of the tight
Drama, drama, drama in our update for this week. The markets have been reeling since Friday’s higher than expected consumer inflation report came out. Unless you’ve been living under a rock – which may be a good idea…no inflation under there – you’ve likely seen the headlines splashed all over the media that the CPI
Today’s update is a combo of good news and bad news. Which do you like first? I prefer the good news first, so here it goes…mortgage rates have taken a breather from their robust rise and we’ve even seen momentary improvements. Overall though, it’s no surprise that rates are higher than last year at this
Despite headwinds to economic growth, namely inflation, the housing market continues to show strength. Most recently we saw reports come out on home price appreciation. Core Logic reported a 20.6 percent increase in home prices year over year and prices are increasing in all 50 states. We haven’t seen these levels of price appreciation, this
