Interest Rates/Loan Limits
Rates at 23-Year Highs
The Fed paused alright - Jerome just talks up the rates now! Rates moved only moderately higher on Wednesday after the Fed rocked the bond market with its updated rate forecasts. To reiterate yesterday's analysis, it's not that the market is expecting the Fed to be...
Rates On The Rise
Mortgage rates will be surging after the jobs report today, and you might wonder about the impact. The Fed doesn't meet again until the last week of July, and, by then, it will be certain that they will bump another quarter or half-percent. It probably means that we...
Forever Homes
The experts say that the majority of homeowners are locked into their homes by their low mortgage rate, and if/when today's high rates come down, then the inventory of homes for sale will bounce back. Boy, are they going to be disappointed. For the last 10-12 years,...
Fed Chair Powell and Real Estate
Powell's goal was to crush the real estate market..... In June 2022, Powell told reporters that spiked mortgage rates would help to "reset" the U.S. housing market, and that "we need to get back to a place where supply and demand are back together and where inflation...
What’s To Come?
My thoughts below on how this year should wrap up. Buyers don't have any reason to rush anything because rates and prices don't seem to be going anywhere over the next few months. It will cause them to be extra picky which will tempt everyone to look ahead to the next...
Swim On By
Let's pay attention to current events: View this post on Instagram A post shared by Klinge Realty Group @ Compass (@klingerealtygroup)
Now What?
There has been plenty of buffer built into mortgage rates lately, so more declines are possible. But a hot CPI tomorrow will give mortgage lenders a great reason to raise their rates in advance of the Fed meeting next week. From MND: Speaking of big things, the bigger...
Heading Back to 7%
Last year the NSDCC sales were the lowest on record. We were already thinking that if the 2023 sales could get to 80% of that number, it would be great. But if mortgage rates spend the next ten months over 7%, what will be the annual sales count for this year? Maybe...
Higher Rates = Less Volume
The mortgage rates are heading for 7% again, which is shocking, given it was 5.99% on Feb. 2nd. Higher rates will discourage both buyers and sellers, and make them want to wait for a "better market" some day in the future. Whether that day will come isn't considered...
