Click to enlarge Been a while, but it’s great to say the mortgage rates just dropped ½%. The newly released Consumer Price Index (CPI) showed that overall inflation increased by 0.4% which was 0.2% below expectations, and year-over-year inflation declined from 8.2% to 7.7%. The market was ... » Learn More about New CPI Sends Mortgage Rates Lower
The San Fernando Valley Housing Market Continues to Reset Through October 2022
Click to enlarge The pendulum swung too far one direction as it was stimulated by artificially low mortgage rates and low inventory, now the pendulum is swinging in the other direction as the mortgage rates are being pushed higher and the pool of capable buyers is being squeezed. We’re in the ... » Learn More about The San Fernando Valley Housing Market Continues to Reset Through October 2022
1976-September 2022 CPI, Mortgage Rates and Recession Correlation
The attached chart shows the historical correlation and sequencing between the CPI (Consumer Price Index), Recession and Mortgage Rates. The blue line is the CPI, the red line is the 30 Year Fixed Mortgage Rate, and the gray-shaded areas are recessions. Click to enlarge Observations:The ... » Learn More about 1976-September 2022 CPI, Mortgage Rates and Recession Correlation
San Fernando Valley (Los Angeles) September 2022 Housing Statistics – Mortgage Rate Induced Weakening
The higher rates being expedited by the Federal Reserve to tame inflation is affecting housing purchase affordability levels and is now being reflected in recent statistics. Click to enlarge The housing market and pricing numbers are always a reflection of supply and demand. From a macro ... » Learn More about San Fernando Valley (Los Angeles) September 2022 Housing Statistics – Mortgage Rate Induced Weakening
Mortgage Rates on a Roller Coaster
There is so much volatility in the financial markets, I can have multiple rate changes through my wholesale mortgage sources a day. Generally to the upside. We know the Federal Reserve was a year late on reversing their very loose financial accommodation of .25% Feds Funds Rates and Quantitative ... » Learn More about Mortgage Rates on a Roller Coaster