Okay, friend, lots to cover in this short update. First, mortgage rates have continued to remain pretty stable, despite lots of turmoil and uncertainty in markets due to the stinker Jobs Report on Friday – more on that in a bit – and the uncertainty around the latest virus variant. And…in big, exciting news for YOU…Loan
I hope you had a wonderful Thanksgiving holiday surrounded by those you love! Of course, now we’re back at it and there’s lots happening in markets this week. We got an early pre-Thanksgiving Day look at the trend in interest rates, thanks to Freddie Mac’s weekly survey. Rates have remained rather steady in recent weeks,
First, I want to let you know how thankful we at Pacific Financial are for you and grateful to be part of your life. Please know that we are here to serve you on your journey through home financing, however we can. I hope you have a wonderful Thanksgiving surrounded by those you love most.
News of rising inflation pounded markets that had previously been shrugging it off month after month thinking it was “transitory” as the Fed called it. Well, last week’s reports on consumer prices showed them rising an unexpected 6.2 percent year-over-year, a level that traders could no longer ignore. Since then, rates have risen in response as bond investors watched
Good news to report this week as the latest survey of average mortgage rates revealed a slight improvement. Add to that, on Friday we saw a more optimistic than expected Jobs Report with 531K new jobs created; and news from Pfizer on a new covid therapeutic drug that is reportedly 90% effective in fighting the
As has been the new trend, mortgage rates again moved up slightly last week as we watched the 10-year Treasury yield percentage move up as well. Optimism is building as we’re seeing new covid cases declining and consumer optimism increasing. Even as mortgage rates are rising slowly, we continue to see a brisk housing market
As the economy approves and the pandemic continues to be a concern, mortgage rates increased in this week’s survey, yet again. We saw in reports last week that the availability of existing homes is improving, which is good news for buyers even as rising interest rates may slow things down a bit. However, just to
Last week we saw evidence – in the reports on consumer and wholesale prices – that inflation continues to rise and as we know, this can often cause a rise in rates. This seems to be the case as the latest survey on average mortgage rates, published by Freddie Mac, reported that the average rate
We’ve had some surprises in the last week that have thrown markets for a loop and created some uncertainty and volatility. Friday’s jobs report was a much greater stinker than expected. New job creation rose just 194,000, a disappointing performance compared to the median expectation of 475,000. Markets are also reacting to rising economic and
Following the Fed’s talk about tapering its bond buying purchases – which help mortgage rates stay low – the 10-year Treasury yield and in turn mortgage rates rose last week. According to Freddie Mac’s latest survey, the average rates for a 30-year mortgage rose .13 percent. We’ve seen greater volatility in rates this week with
