Financial Markets

Mortgage Market Update – Rates Continue Downward Trend and Many Mortgages Just Got Cheaper for a Different Reason

By Douglas Katz – 1/20/23 Per Freddie Mac: As inflation continues to moderate, mortgage rates declined again this week. Rates are at their lowest level since September of last year, boosting both homebuyer demand and homebuilder sentiment. Declining rates are providing a much-needed boost to the housing market, but the supply of homes remains a …

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Mortgage Market Update – Rates Trending Downward but NO Guarantees for Future Moves

By Douglas Katz – 01/13/23 From Freddie Mac: While mortgage rates have resumed their decline, the market remains hypersensitive to rate movements, with purchase demand experiencing large swings relative to small changes in rates. Over the last few weeks latent demand has been on display with buyers jumping in and out of the market as …

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Mortgage Market Update – Downward Mortgage Rate Trend Continues

By Douglas Katz – 12/9/2022 From Freddie Mac: Mortgage rates decreased for the fourth consecutive week, due to increasing concerns over lackluster economic growth. Over the last four weeks, mortgage rates have declined three quarters of a point, the largest decline since 2008. While the decline in rates has been large, homebuyer sentiment remains low …

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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 – 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 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 – More of the Same for Mortgage Rates

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 …

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Increased Layoffs Show Further Signs of Housing Correction

By Doug Katz – 06/16/2022 Two large players in the housing market announced layoffs this week and this is not the first companies to trim their workforce. In their announcements, Redfin and Compass communicated job cuts of 8% and 10% respectively. This is on the heels of some pretty substantial layoffs in the lending sector …

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