Today’s rates with no points

The Spring Selling Season could get a real boost if mortgage rates stay in the 5s.

The Fed has been telegraphing their intentions for months now, and at this point, there can’t be anyone who thinks the Fed won’t keep raising their Fed Funds rate – at least for their next two meetings. Mortgage lenders have to be pricing in the anticipated future increases, yes?

After some tepid inflation news last week, mortgage rates came down a 1/2%, and they have stayed there, which makes me think that there was already too much buffer priced in – and there has to be some extra left knowing that the Fed has more work to do.

But just in case, go out and buy a house today so you can get a 5-something rate!

Checking-in on the Buffalo snowstorm:

“But that’s my own fault.”? https://t.co/g7zWZg8GXM

— Rex Chapman?? (@RexChapman) November 21, 2022