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 targeting 8.0%. I’ve ... » Learn More about New CPI Sends Mortgage Rates Lower
economics
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
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
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
San Fernando Valley Housing Market Slowing, But Still Moving Along
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