Mortgage Rate Information

Mortgage Market and Rate Update – Rate Volatility Defines the Current Market

Per Freddie Mac: Purchase demand continues to tumble as the cumulative impact of higher rates, elevated home prices, increased recession risk, and declining consumer confidence take a toll on homebuyers. It’s clear that over the past two years, the combination of the pandemic, record low mortgage rates, and the opportunity to work remotely spurred greater …

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Mortgage Market and Rate Update – Upward Mortgage Rate Trend Continues

By Douglas Katz – 07/22/2022 Per Freddie Mac: The housing market remains sluggish as mortgage rates inch up for a second consecutive week. Consumer concerns about rising rates, inflation and a potential recession are manifesting in softening demand. As a result of these factors, we expect house price appreciation to moderate noticeably. Other Key Points …

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Mortgage Rate Update – Rates Reverse the Downward Trend and Tick Up

By Douglas Katz – 07/15/2022 From Freddie Mac: Mortgage rates are volatile as economic growth slows due to fiscal and monetary drags. With rates the highest in over a decade, home prices at escalated levels, and inflation continuing to impact consumers, affordability remains the main obstacle to homeownership for many Americans. Highlights and Takeaways: Inflation …

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CNBC: “Homebuyers are canceling deals at the highest rate since the start of the pandemic.”

By Douglas Katz – 07/11/2022   CNBC recently reported that deal cancellations have risen to 15%.  This is applicable to new and existing homes and, while not a harbinger of doom, it does reflect a sea change for the market.  Killing deals was unheard of just a few months ago when homebuyers were willing to …

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Mortgage Rate Update – Rates Retreat Giving Hope to Prospective Buyers

By Douglas Katz – 07/08/2022 Per Freddie Mac: Over the last two weeks, the 30-year fixed-rate mortgage dropped by half a percent, as concerns about a potential recession continue to rise. While the drop provides minor relief to buyers, the housing market will continue to normalize if home price growth materially slows due to the …

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Fed Rate Bump Likely in July – How Can You Plan?

By Douglas Katz – 06/07/2022 Inflation is still high at 8.6%. The Central Bank is likely to raise rates to combat inflation. While this may weaken the economy, The Federal Reserve is still prioritizing taming inflation as key. The Federal Reserve released their June meeting minutes yesterday and based on some specific comments, the market …

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Weekly Mortgage Rate Update – Rates Stabilize for Now

By Douglas Katz – 6/30/2022 Per Freddie Mac: The rapid rise in mortgage rates has finally paused, largely due to the countervailing forces of high inflation and the increasing possibility of an economic recession. This pause in rate activity should help the housing market rebalance from the breakneck growth of a seller’s market to a …

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Weekly Mortgage Rate Update – Mortgage Rates Continue to Move Up

Per Freddie Mac: Fixed mortgage rates have increased by more than two full percentage points since the beginning of the year. The combination of rising rates and high home prices is the likely driver of recent declines in existing home sales. However, in reality many potential homebuyers are still interested in purchasing a home, keeping …

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Mortgages Explained – The Adjustable Rate Mortgage (ARM)

By Douglas Katz – 06/23/2022 So now that I have your attention, no we are no talking about your appendages.  We are talking about adjustable rate mortgage (ARMs) and their use is on the rise again.  CNBC just published an article titled Demand for adjustable-rate mortgages surges, as interest rates make biggest jump in 13 …

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Where Will Housing Go In 2022?

By Douglas Katz – 06/23/2022 First let me get this out of the way.  I recommend strongly that you delete, throw away and disregard any forecasts more than 30 days old.  Too much has changed in the markets and, more importantly, in the sentiment of real estate and mortgage professionals, buyers and sellers.  Rates have …

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