The higher interest rates are having an effect on the housing market, but that is no surprise. Over 6 months the 30 year fixed conforming loan rates have jumped from 2.75% to 5.5%. The slowdown is started to be reflected in the local housing numbers. New listings are flat month over month. ... » Learn More about San Fernando Valley Housing Market Slowing, But Still Moving Along
Mortgage Rates
Income to Loan Guide San Fernando Valley Homes April 2022
Recently the interest rates are even higher than the 4.98% rate for a 30 year fixed mortgage, but the numbers conveyed in the graphic are a relative idea of where we are now with higher property values, and higher rates, hurting the affordability ratios and qualifying capabilities of many marginal ... » Learn More about Income to Loan Guide San Fernando Valley Homes April 2022
Mortgage Rates Are Up – But Not Relative To History
Mortgage rates are up around 2% since the beginning of 2022. The word of the year is inflation. The Federal Reserve now admits that the “Transitory Inflation” they were expecting while keeping the rates artificially low to offset the Covid close down economic hit, is much stickier than expected. The ... » Learn More about Mortgage Rates Are Up – But Not Relative To History
Fed Rate Increase – What Does It Mean For Mortgage Rates, Real Estate Market and Inflation?
The Federal Reserve did the widely predicted increase of the Fed Funds Rate from 0-.25% to .25-.5%. The ¼% isn’t a big deal, but the Fed Chairman Powell indicated that the target is 7 rate increases with a target of 1.9% by the end of 2022, and 2.8% in 2023-2024. The Q&A during the Chairman’s ... » Learn More about Fed Rate Increase – What Does It Mean For Mortgage Rates, Real Estate Market and Inflation?
Mortgage Rates – Not Where They’ve Been, But Where Are They Going?
The big news is the CPI (Consumer Price Index) is now at 7.5%. Most in 40 years. The Federal Reserve is behind the curve on normalizing interest rates from their end. They are still tapering their Quanitative Easing (purchasing Mortgage-Backed Securities and Bonds) artificially keeping long rates ... » Learn More about Mortgage Rates – Not Where They’ve Been, But Where Are They Going?