Mortgage rates have come down nicely - let's hope they stick! Higher rates are what keep buyers on the couch. When they see rates go up, they expect sellers to lower their prices to compensate. But if we can get rates back into the low four-percent range, or gasp,...
As with the other recent Fed hikes, mortgage rates actually dropped today on the news, and MND's regular voice thinks it could keep going: Today's Fed Statement and forward guidance meshed with investors' expectations, helping bonds maintain their recent gains. ...
A pause in the Fed hikes was looking good. First, the WSJ posted an editorial on Sunday - a snippet: If you think your job is tough, consider Federal Reserve Chairman Jerome Powell. He’s signaled for months that the Fed will raise interest rates again this week, but...
For those who insist on reminding us that rates are still historically low, here's a colorful demonstration of where we've been. Today's rates are as high as we've seen this decade - which is all people remember! (Click to enlarge)
Bob has had a steady grip on the real estate market - his opinions tend to be among the most level-headed of all the prognosticators. He says we are coasting upward, and that the bump in mortgage rates isn't a turning point: Market confidence can be disrupted...
After today's NFP report, we can say that 5% mortgage rates (no points) have arrived - sellers can offer to buy down the rate to help ease the pain for buyers. Yesterday's thoughts from MND: So is it possible for bonds to see such a reversal? Yes, but it's equally...
The Fed raised their federal-funds rate by 1/4% as expected today, and mortgage rates showed their usual indifference: Fannie/Freddie 30-year mortgage rate with no points, yesterday: 4.70% Fannie/Freddie 30-year mortgage rate with no points, today: 4.73% From MND: In...
This is just a snip of Rich's latest post - read the full article here:
The full-blown frenzy we enjoyed in 2013 has been cooling off ever since, and I think we can call today's market a bit soft. Home buyers are gradually gaining more power and control of the outcomes, and as we saw yesterday in the Inventory Watch, the unsold homes are...
Sellers will be reluctant to lower their prices just because rates went up, so what do higher rates mean for home buyers? Let's take a minute and a half and logically review the actual differences in payments when rates go higher:
