If rates would stay around 5% over the next four quarters, the market should digest it and get comfortable with the new era. But how reliable are these experts? After all, they are the mortgage business - shouldn't their forecasts be pretty close? Well, hmm, no:
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Trying to predict what will happen to our local real estate market in the short-term? No surprise that mortgage rates will play a big role in how it plays out, and they have been extremely volatile lately. But it's just not...
After mortgage rates went over 6% again yesterday, the doomers will be burying the real estate market over the next few months. You can see why - rates have been dropping for a generation; for them to now go up from 3% to 6% in a few months is unprecedented for...
The Fed did what they said they were going to do and raised their fed funds rate target by another 0.75%. What happened to mortgage rates? They went down! Read the story here. Yes the -0.01% isn't much, but didn't every casual observer think mortgage rates were going...
The traditional spread between the 10-year Treasury Yield and the 30-yr fixed mortgage rate has been 1.75%. Today it is 2.7%, which sure makes it look like the next Fed increase is already priced in. This week, we will see if mortgage rates will moderate and stay in...
Rates have come down a lot over the last two days. Last week the conforming rates were into the 6s. The rates above are with no points, which should mean that you could get a jumbo rate in the mid-4s! https://www.mortgagenewsdaily.com/markets/mortgage-rates-06232022
Over the last few decades, the 30-yr fixed mortgage rate has run at 1.75% over the 10-yr yield - which if true today, it would put us at 5.0%, instead of 6.0%. Here's what the MND thinks about the bond yields: As for Treasuries, yields are now high enough as to be...
Seeing how the government got us into this, let's note that they are willing to carry some of the burden of higher mortgage rates. At today's rates, buyers can write off twice as much mortgage interest! Signed in 2017, the Tax Cuts and Jobs Act (TCJA) changed...
As you can see in my mortgage-rate tracker (in right column), we had another meltdown today, and the conforming rate now is over 6% (with no points). The idea of paying higher prices AND rates really discourages the move-up/move-down markets. Combined those with...
I picked a great day to start the mortgage-rate tracker in the right-hand column! >>>> Mortgage rates haven't been in the 6% range since 2008: How many agents have operated in a 6% environment? It will be less than half of the active agents today. To...
