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
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
As expected, mortgage rates continued their persistent march higher last week. According to Freddie Mac’s weekly survey, rates have moved higher for seven consecutive weeks. No, none of us likes higher rates but remember there is always a silver lining and in this case, we are starting to see some volatility in housing demand which
These are interesting times in the housing market and we’re seeing lots of speculation around what it all means and how it’s all going to shake out. According to Freddie Mac’s weekly survey of average rates, the average for a 30-year fixed mortgage has now officially hit 5.0 percent on the survey, a level not
It’s probably not a surprise to you, but mortgage rates continued to increase this past week clocking the fastest three-month rise since May of 1994, according to Freddie Mac’s latest survey of average mortgage rates. The survey also reported – and I will corroborate – that purchase activity is softening, which, if you’ve been on
Last week mortgage rates had their best week in terms of improvement since early March, which offered a breather from rising rates and opportunities to lock in slightly lower rates. The catch is that overall for March, rates are at their highest levels since 2018. This week’s rates have continued their move higher making it
Wild times we’re living in! Last week’s events including rising inflation, continued geopolitical uncertainty, and the Fed’s move to raise its key interest rate, drove mortgage rates higher at a pace not seen in a long time. According to Freddie Mac’s weekly survey, which came out last Thursday, the average rate for a 30-year fixed-rate
The average rate for a 30-year fixed-rate mortgage rose last week, exceeding four percent for the first time since May 2019, according to Freddie Mac’s weekly survey of rates. We continue to see inflation climb and thus rates are expected to do the same. No one likes to see mortgage rates rising, however, there are
As we continue to watch events unfold in Ukraine and rising inflation here at home, the volatility in markets and mortgage rates continues. And in addition to the already skittish markets, we’ve got an important Fed Meeting this week. Following two weeks of declines, the latest trend in mortgage rates, as reported by Freddie Mac
As we watch the horrific scene unfolding in Ukraine our hearts go out to those fighting for and fleeing their country. Please join me in sending prayers and support to those affected. This geopolitical tension has destabilized markets here and led to investors seeking safer places to put their money, which means moving out of
