The mainstream media is taking their shots at explaining the current market. Here is the attempt by the NYT - link should be unlocked: [button...
Rates & Home Prices
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Interest Rates/Loan Limits
Waiting Until Later
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...
Purchase Applications
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...
Mortgage Rates Rise Again
Rates matter. We gave credit to the ultra-low rates when they were in the 2%-range for helping to create the frenzy. Likewise, higher rates will have something to do with the way the market turns out in 2022. It's not because the payment are so much different. When...
Highest Rates In Three Years
Rising rates may discourage the regular home buyers, but they aren't the market-makers. All that matters is how many of the desperate-buyers-full-of-cash are left, and with the new listings trickling in, we only need a few! It's Thursday and thus time once again for...
Update on Rates
Last Friday was an interesting day for mortgage rates and the broader bond market. Rates began the day roughly in line with Thursday's latest levels, but bonds lost ground throughout the morning. Multiple lenders adjusted rates higher before 1:30pm. After that,...
The Selling Season Is Here!
The Super Bowl is complete, and the spring selling season begins today! Judging by the quick jump in the total number of pendings, homebuyers aren't waiting around. Mortgage rates have risen faster than any time in the last dozen years, and the number of homes for...
Mortgage Rates Near 4%
Sellers should expedite their moving plans..... The big monthly jobs report is something that typically matters a great deal to rates. Oddly enough, today's jobs report was NOT seen having much of an impact for a few reasons. First off, analysts expected a much...
The Fed and Rising Rates
From MND: Fed policy is critically important to interest rates and January has marked a shift in the Fed policy outlook. In not so many words, the Fed sees itself hiking rates and decreasing its bond purchased more quickly than previously expected. It has conveyed...
Rising Mortgage Rates
Mortgage rates have been rising steadily: 2022 has gotten off to a bad start for the bond market and consequently, mortgage rates. The pace has been on the aggressive side with the average lender seeing an increase of more than a quarter of a point in a week and...
