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...
The mainstream media is taking their shots at explaining the current market. Here is the attempt by the NYT - link should be unlocked: [button...
We are in the midst of the fastest increase in mortgage rates in history. It was only 6-8 months ago that home buyers were financing their purchase with a 30-year fixed rate in the twos. Now they are in the fours! We had the lowest rates ever due to the pandemic. They...
The Mortgage Bankers Association (MBA) released its latest mortgage application numbers this morning and the modest movement belies the drama unfolding in the world of mortgage rates. As usual, the MBA does a good job of capturing average rate movement week to week...
