The last couple of weeks of June has resulted in better fixed mortgage rates. There's been a lot of interest rate and economic number volatility. We're not close to the 3% 30 year fixed mortgage rates we saw the beginning of 2022, but well off the high of 6.2% a couple weeks ago now at 5.5%. The 10 ... » Learn More about 2nd Half of 2022 Starts Off With Better Mortgage Rates
Fed Increases End of 2022 Rate Substantially
The immediate news is the Federal Reserve increased its overnight Fed Funds Rate .75% to 1.5-1.75%. The ongoing high inflation levels pushed them to move higher than the originally conveyed .5% increase. The bigger news is the end of 2022 rate forecast is up from 1.9% to 3.4%. That's a substantial ... » Learn More about Fed Increases End of 2022 Rate Substantially
Keeping Mortgage Rates in Perspective; 1971-May 2022
The rate of increase in interest rates has been abrupt but going into a historically normal range. Will we ever see the 2.5% 30 year mortgage rate again? I never say never, but it's unlikely. It took a pandemic, the goverment shutting down the economy, and artificially dropping rates by buying ... » Learn More about Keeping Mortgage Rates in Perspective; 1971-May 2022
San Fernando Valley Housing Inventory Increases, Pricing to Stabilize
It's all about supply and demand. The inventory of housing stock in the San Fernando Valley is increasing. The tricky part is so are interest rates. What we've experienced over the past few years has been an unhealthy real estate market. The Gov't artificially lowering interest rates to offset the ... » Learn More about San Fernando Valley Housing Inventory Increases, Pricing to Stabilize
Mortgage Rates Continue to Jump, Fed VS Inflation
Mortgage rates jumped from mid 5s to low 6s in just a couple of days. Friday's high inflation level of 8.6% and this Wednesday's Federal Reserve meeting is messing with the investor's psyche on what yield they need to buy mortgage-backed securities. Reality, the Federal Reserve is way behind the ... » Learn More about Mortgage Rates Continue to Jump, Fed VS Inflation