From the peak of the recent mortgage rates in October '22 at 7.375%, they then dropped to 6.0% when the Federal Reserve made their last .25% increase in the Fed Funds Rate. The perception of the mortgage bond market was the Fed was beating the inflation monster. But then Rates have been rising at a ... » Learn More about Mortgage Rates On A Roller Coaster
housing affordability
Mortgage Rates Fall Back to Multi Month Lows
The 30 year fixed mortgage rates have been steadily dropping and are a full percent lower than a month ago. 6.3% may not be 3% like we saw a year ago, but much better than the 7.5% seen in early November. We know the Federal Reserve will increase the Fed Funds Rate again next week. Their battle ... » Learn More about Mortgage Rates Fall Back to Multi Month Lows
Conforming Loan Limits Higher For 2023
Some lenders were recently funding loans higher than the actual 2022 loan limits, with all indications that the loan limits would be higher for 2023. The true loan limits have now been released. The Federal Housing Finance Agency (FHFA) announced the conforming loan limit values (CLLs) for ... » Learn More about Conforming Loan Limits Higher For 2023
A Decade After I Blogged On It, 3D Printed Homes Are Finally Coming To Market
A Decade After I Blogged On It, 3D Printed Homes Are Finally Coming To Market Nearly a decade ago I did a video blog on the utilization of huge 3D printers to build housing. CNBC just reported on the first large scale housing development being built by Lennar, using the 3D technology, essentially ... » Learn More about A Decade After I Blogged On It, 3D Printed Homes Are Finally Coming To Market
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. Observations:The Federal Reserve wants to ... » Learn More about 1976-September 2022 CPI, Mortgage Rates and Recession Correlation