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. The housing market and pricing numbers are always a reflection of supply and demand. From a macro level, the Los Angeles ... » Learn More about San Fernando Valley (Los Angeles) September 2022 Housing Statistics – Mortgage Rate Induced Weakening
Mortgage Rates
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
Fed Speak Pushing Mortgage Rates Higher
Per the Federal Reserve Chair Jerome Powell a week ago in his speech at the Jackson Hole Economic Forum “The Fed will push rates higher, and for longer. Will not reverse too early” and “Some pain will have to be endured”. Key takeaways: Mortgage rates dropped from their highs mid-June ... » Learn More about Fed Speak Pushing Mortgage Rates Higher
Mortgage Rates Moves Every Time An Economic Report Is Released
There has been a slew of economic reports released lately that give the Federal Reserve, and financial markets differing stories on where interest rates should go. The Federal Reserve has two primary goals dictated by its charter. Maintain maximum employment and stability of the financial ... » Learn More about Mortgage Rates Moves Every Time An Economic Report Is Released
The Spread Between the 10 Year Treasury and 30 Year Mortgage Rates Expand, and What it Means
I generally tell potential borrowers that if they follow the 10 Year US Treasury note rate, it generally is a good indication of the direction of 30 year fixed mortgage rates. It still is a good indicator, but other elements are currently having an effect skewing their correlation. Two ... » Learn More about The Spread Between the 10 Year Treasury and 30 Year Mortgage Rates Expand, and What it Means