Housing

Mortgage Market Update – Rates Dip on Optimism About Inflation

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 …

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Lending Standards are Tightening – What Can You Do?

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 …

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Mortgage Market Update – Average Mortgage Rates Above 7% With An End Of Week Improvement

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 …

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Mortgage Market Update – Rates Tick Down But Housing Unaffected

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 …

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

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

  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

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

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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Mortgage Market Update – Rates Continue Their Climb

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 …

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Mortgage Market Update – Rates up 1/4 point. What now?

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 …

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