Good summary of today's market conditions by Nick: Link to Free...
Frenzy vs. Rates
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Interest Rates/Loan Limits
Fed’s MBS Holdings
A couple of readers asked about the MBS runoff: Mortgage Bankers Association Senior Vice President and Chief Economist Mike Fratantoni noted there are two items to watch from the Federal Open Market Committee following this month’s two-day meeting. “First, they...
Mortgage Rates Over 5.5%
Rates are getting so far ahead of where they should be that there should be some relief once the Fed bumps their fed-funds rate by one-half percent this week. But we'll probably end up touching 6% in the next 1-3 months. From the MND: The hits keep coming for mortgage...
Where Will Rates Stop?
I suggested that mortgage rates should settle into the 4.75% to 5.50% range, and Bill at CR thinks the range will be 5.0% to 5.7%. Today's rates are in the low 5s, so we have arrived and buyers should not feel the need to hurry up - but it will be bumpy over the next...
Negative Mortgage Rates
A fantastic spin on higher mortgage rates by two economists - an excerpt: Mark Fleming - That's a great question, Odeta. And when we subtract the core CPI inflation rate from the 30-year, fixed mortgage rate, we find that, with air quotes here, mortgage rates are...
No Major Panic
You can't spend too much time reading/watching the news recently without being well aware of the relatively unprecedented surge in mortgage rates seen so far in 2022. In particular, the month of March was one the worst on record with one individual week in March...
Rates & Home Prices
The mainstream media is taking their shots at explaining the current market. Here is the attempt by the NYT - link should be unlocked: [button...
Waiting Until Later
We are in the midst of the fastest increase in mortgage rates in history. It was only 6-8 months ago that home buyers were financing their purchase with a 30-year fixed rate in the twos. Now they are in the fours! We had the lowest rates ever due to the pandemic. They...
Purchase Applications
The Mortgage Bankers Association (MBA) released its latest mortgage application numbers this morning and the modest movement belies the drama unfolding in the world of mortgage rates. As usual, the MBA does a good job of capturing average rate movement week to week...
Mortgage Rates Rise Again
Rates matter. We gave credit to the ultra-low rates when they were in the 2%-range for helping to create the frenzy. Likewise, higher rates will have something to do with the way the market turns out in 2022. It's not because the payment are so much different. When...
