By Douglas Katz – 11/18/2022 Per Freddie Mac: Mortgage rates tumbled this week due to incoming data that suggests inflation may have peaked. While the decline in mortgage rates is welcome news, there is still a long road ahead for the housing market. Inflation remains elevated, the Federal Reserve is likely to keep interest rates …
Mortgage Market Update – Rates Dip on Optimism About Inflation Read More »
By Douglas Katz – 11/16/2022 Mortgage loan approval guidelines in the lending world are ever changing. Market conditions and risk tolerance of the lenders create an environment where home loan programs are at best tweaked and at worst radically changed to match competitiveness, the market and the lenders appetite. The hard part for lenders and …
Lending Standards are Tightening – What Can You Do? Read More »
By Douglas Katz – 11/10/2022 From Freddie Mac: As the housing market adjusts to rapidly tightening monetary policy, mortgage rates again surpassed seven percent. The housing market is the most interest-rate sensitive segment of the economy, and the impact rates have on homebuyers continues to evolve. Home sales have declined significantly and, as we approach …
Mortgage Market Update – Average Mortgage Rates Above 7% With An End Of Week Improvement Read More »
By Douglas Katz – 11/04/2022 From Freddie Mac Mortgage rates continue to hover around seven percent, as the dynamics of a once-hot housing market have faded considerably. Unsure buyers navigating an unpredictable landscape keeps demand declining while other potential buyers remain sidelined from an affordability standpoint. Yesterday’s interest rate hike by the Federal Reserve will …
Mortgage Market Update – Rates Tick Down But Housing Unaffected Read More »
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 …
Mortgage Market Update – 7 is Far From Lucky as Rates Hit New Highs Read More »
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 …
Mortgage Market Update – Market Erosion Continues with Rates Stabilinzing Read More »
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 …
By Douglas Katz From Freddie Mac: The uncertainty and volatility in financial markets is heavily impacting mortgage rates. Our survey indicates that the range of weekly rate quotes for the 30-year fixed-rate mortgage has more than doubled over the last year. This means that for the typical mortgage amount, a borrower who locked-in at the …
Mortgage Market Update – Rates Continue Their Climb Read More »
By Doug Katz – 9/23/2022 From Freddie Mac The housing market continues to face headwinds as mortgage rates increase again this week, following the 10-year Treasury yield’s jump to its highest level since 2011. Impacted by higher rates, house prices are softening, and home sales have decreased. However, the number of homes for sale remains …
Mortgage Market Update – Rates up 1/4 point. What now? Read More »
By Doug Katz – 9/16/2022 Per Freddie Mac: Mortgage rates continued to rise alongside hotter-than-expected inflation numbers this week, exceeding six percent for the first time since late 2008. Although the increase in rates will continue to dampen demand and put downward pressure on home prices, inventory remains inadequate. This indicates that while home price …
Mortgage Market Update – More of the Same for Mortgage Rates Read More »
