Month: October 2022

Mortgage Market Update – 7 is Far From Lucky as Rates Hit New Highs

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By Douglas Katz – 10/27/2022 From Freddie Mac: The 30-year fixed-rate mortgage broke seven percent for the first time since April 2002, leading to greater stagnation in the housing market. As inflation endures, consumers are seeing higher costs at every turn, causing further declines in consumer confidence this month. In fact, many potential homebuyers are …

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Mortgage Market Update – Market Erosion Continues with Rates Stabilinzing

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  From Freddie Mac: The 30-year fixed-rate mortgage continues to remain just shy of seven percent and is adversely impacting the housing market in the form of declining demand. Additionally, homebuilder confidence has dropped to half what it was just six months ago and construction, particularly single-family residential construction, continues to slow down. Commentary The …

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Mortgage Market Update – Rates Headed Up Again

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By Douglas Katz – 10/14/2022 From Freddie Mac Rates resumed their record-setting climb this week, with the 30-year fixed-rate mortgage reaching its highest level since April of 2002. We continue to see a tale of two economies in the data: strong job and wage growth are keeping consumers’ balance sheets positive, while lingering inflation, recession …

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Mortgage Market Update – Rates Retreat a Bit

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By Douglas Katz From Freddie Mac: Mortgage rates decreased slightly this week due to ongoing economic uncertainty. However, rates remain quite high compared to just one year ago, meaning housing continues to be more expensive for potential homebuyers. Commentary This really amounts to very little impact for buyers.  When the industry talks about increases and …

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