There’s no way to sugarcoat or put an optimistic spin on the news these days, and the news of mortgage rates is no different. Mortgage rates continue to rise, and we continue to see economic headwinds that don’t give any indication this trend will reverse anytime soon. Listen, I’ve been in the mortgage business for
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.
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
Last week’s inflation data showed a further slowing in the pace of inflation, which is good news for the growth and health of the economy. Since we’re discussing inflation, I thought I’d take this opportunity to remind you of the relationship between inflation and mortgage rates. In general, higher inflation also means the price of
As we wrap up June, the third quarter, and the first half of the year, mortgage rates are holding steady, as they have been for most of the month of June. This month looks to be ending as the least volatile month in well over a year. For analysts, this absence of much movement signals
As we begin a holiday-shortened week due to the Juneteenth Holiday, we saw rates end last week taking pause as markets digest the events of last week including the Fed pausing its rate hikes and giving some clues as to what it will do in the future. There was also interesting inflation data and lots
