Tag Archives: refinance

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New Home Sales Reach a 13-Month High!

Continuing their sideways trend, mortgage rates hung out within the same .10 percent range over the last week, according to Freddie Mac’s weekly survey of average rates. Analysts are finally seeing the issues over the debt ceiling to have a visible impact on longer-term bonds, which may translate to lower interest rates. We’ll have to

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Shifting Continues in Housing + Jobs Report Friday

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

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Important Jobs Report Comes Out This Week…

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,

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An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

Critical Fed Meeting This Week Before August Break

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

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An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

What Is Recession and How You Can Prepare

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

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An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

Volatility Remains in Markets and Rates This Week

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

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Important Fed Meeting Happening This Week!

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

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Short, Busy Week With Jobs Report Coming

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

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I Actually Have Some Good News…

It’s in times like these, with rates moving consistently higher, it makes publishing this weekly newsletter difficult because I wish I had some fantastically good news to share with you. BUT, I actually do have some good news and some real talk too. First, we saw some slight improvement in rates last week, which has

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An image with a white background and black compass that says: "Your Weekly Mortgage Market Update Brought to you by Pacific Financial Mortgage & Real Estate Inc.

Important Fed Meeting & Jobs Report This Week

This week’s Fed Meeting is taking center stage as a driver of the direction of markets and mortgage rates. As a move to combat inflation, the Fed is anticipated to raise the Fed Funds Rate (the lending rate it charges banks) by .50 percent. This will likely ripple through the lending and investment markets. To

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