Last week, at the wrap-up of their meeting, the Fed delivered the gift the markets have been asking for, a decision to pause interest rate hikes and bond-friendly remarks about the economy. As a result, mortgage rates tumbled, improving to levels not seen in many months. “Given inflation continues to decelerate and the Federal Reserve
I hope you had a wonderful Thanksgiving holiday! This time of year can be a little crazy in the financial markets as trading volume drops off because traders take time off for the holidays and so we often see increased volatility because smaller moves make bigger ripples when trading volume is lower. Nevertheless, mortgage rates continued
Welcome to November! Fortunately, with the holiday season upon us, we have other fun things to focus on because the markets and mortgage rates continue to spook us, like picking up those mushy pumpkins after Halloween is over. Ick! And this week will be no exception; with an uncommon combination of high-impact events, we’re likely
Don’t look now, but rates continue to rise as geopolitical uncertainty continues to increase due to the conflict in Ukraine and the war in Israel. However, here at home, the economy and incomes continue to grow even as the housing market becomes less affordable. As a result, the housing market is seeing less purchase demand.
The last week since we were last here has been a little crazy! Here’s what’s happened. First, as you know, last week, the Fed had a meeting. On Wednesday, as expected, they announced that there was no change in the Fed Fund Rate, the interest rate they set. Then all heck broke loose with Fed
Last week’s favorable report on consumer inflation helped mortgage rates improve nicely just in time for the release of Freddie Mac’s weekly mortgage rate report. In it, we saw a healthy decrease in average mortgage rates for both 30-year and 15-year fixed-rate loans. However, that was last week and this is this week. This week
Market uncertainty and shifting expectations led to a turnaround in mortgage rates last week. Freddie Mac’s weekly survey reported an increase in the average rates for the 30-year fixed and 15-year fixed. As of the writing of this email, rates are trending toward improvement…but as you know, can change at any time. With an impending
The volatility in rates and financial markets gave us a nice improvement in mortgage rates over the past two weeks. However, now as fears about the banking sector subside somewhat we’ve seen rates move back up again out ahead of an important Fed Announcement this week. Watching the markets over this last week is a
Well, all signs are pointing up this week and last, so mortgage rates have behaved accordingly. For the second week in a row, the trend for rates has been upward, according to Freddie Mac’s weekly survey of average 30-year and 15-year conventional mortgages. It’s kinda a double-edged sword of good news, and bad news because
Even as we see the average mortgage rates continue their trend higher, according to Freddie Mac’s weekly survey, data continues to show the strength of the housing market. Yes, there is still re-balancing happening in housing; and yes, of course rising rates are impacting affordability and buyers’ decisions. However, people are still buying homes, selling
