Mortgage Rates Drop

May 2, 2019
Slightly weaker inflation and labor economic data caused mortgage rates to dip this week. Moving into summer, we expect rates to be about a quarter to half a percentage point lower than where they were last year, which is good news for the housing market. These lower rates combined with solid economic growth, low inflation and rebounding consumer confidence should provide a solid foundation for home sales to continue to improve over the next couple of months.

Information provided by Freddie Mac.

Mortgage Rates Continue to Climb

April 25, 2019
Despite the recent rise in mortgage rates, both existing and new home sales continue to show strength – indicating the lagged effect of lower rates on housing demand. This, along with improved affordability, should push housing activity higher in the coming months.

Information provided by Freddie Mac.

Mortgage Rates Continue to Rise

April 18, 2019
After dropping dramatically in late March, mortgage rates have modestly increased since then. While this week marks the third consecutive week of rises, purchase activity reached a nine-year high – indicative of a strong spring homebuying season.

Information provided by Freddie Mac.

Mortgage Rates Inch Up

April 11, 2019
Rates moved up slightly this week while mortgage applications decreased following last week’s jump in rates – indicating borrower sensitivity to changing mortgage rates. Despite the recent rise, we expect mortgage rates to remain low, in line with the low 10-year treasury yields, boosting homebuyer demand in the next few months.

Information provided by Freddie Mac.

Mortgage Rates Remain Stable

April 4, 2019
Purchase mortgage application demand saw the second highest weekly increase over the last year and thanks to a spike in refinancing activity, overall mortgage demand rose to the highest level since the fall of 2016. While the housing market has faced many head winds the last few months, it sailed through the turbulence to calmer seas with demand buttressed by a strong labor market and low mortgage rates. The benefits of the decline in mortgage rates that we’ve seen this year will continue to unfold over the next few months due to the lag from changes in mortgage rates to market sentiment and ultimately home sales.

Information provided by Freddie Mac.

Mortgage Rates See Biggest One-Week Drop in a Decade

March 28, 2019
The Federal Reserve’s concern about the prospects for slowing economic growth caused investor jitters to drive down mortgage rates by the largest amount in over ten years. Despite negative outlooks by some, the economy continues to churn out jobs, which is great for housing demand. We have recently seen home sales start to recover and with this week’s rate drop we expect a continued rise in purchase demand.

Information provided by Freddie Mac.

Mortgage Rates Move Lower

March 21, 2019
Mortgage rates have dipped quite dramatically since the start of the year and house prices continue to moderate, which should help on the homebuyer affordability front. The combination of improving affordability and more inventory than the last few spring selling seasons should lead to improved home sales demand.

Information provided by Freddie Mac.

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