Over the last few decades, the 30-yr fixed mortgage rate has run at 1.75% over the 10-yr yield - which if true today, it would put us at 5.0%, instead of 6.0%. Here's what the MND thinks about the bond yields: As for Treasuries, yields are now high enough as to be...
Seeing how the government got us into this, let's note that they are willing to carry some of the burden of higher mortgage rates. At today's rates, buyers can write off twice as much mortgage interest! Signed in 2017, the Tax Cuts and Jobs Act (TCJA) changed...
As you can see in my mortgage-rate tracker (in right column), we had another meltdown today, and the conforming rate now is over 6% (with no points). The idea of paying higher prices AND rates really discourages the move-up/move-down markets. Combined those with...
I picked a great day to start the mortgage-rate tracker in the right-hand column! >>>> Mortgage rates haven't been in the 6% range since 2008: How many agents have operated in a 6% environment? It will be less than half of the active agents today. To...
Good summary of today's market conditions by Nick: Link to Free...
A couple of readers asked about the MBS runoff: Mortgage Bankers Association Senior Vice President and Chief Economist Mike Fratantoni noted there are two items to watch from the Federal Open Market Committee following this month’s two-day meeting. “First, they...
Rates are getting so far ahead of where they should be that there should be some relief once the Fed bumps their fed-funds rate by one-half percent this week. But we'll probably end up touching 6% in the next 1-3 months. From the MND: The hits keep coming for mortgage...
I suggested that mortgage rates should settle into the 4.75% to 5.50% range, and Bill at CR thinks the range will be 5.0% to 5.7%. Today's rates are in the low 5s, so we have arrived and buyers should not feel the need to hurry up - but it will be bumpy over the next...
A fantastic spin on higher mortgage rates by two economists - an excerpt: Mark Fleming - That's a great question, Odeta. And when we subtract the core CPI inflation rate from the 30-year, fixed mortgage rate, we find that, with air quotes here, mortgage rates are...
You can't spend too much time reading/watching the news recently without being well aware of the relatively unprecedented surge in mortgage rates seen so far in 2022. In particular, the month of March was one the worst on record with one individual week in March...
