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Plenty of buyers, few sellers While the Fed raised interest rates again this week, by .25%, mortgage rates remain relatively consistent this week, with that rate hike already priced into the market. Right now, buyers can expect 30-year fixed…
Rates trail off from 2023 highs While Freddie Mac’s mortgage benchmark inched higher this week, it doesn’t paint a full picture of where rates sit currently. Newly released Consumer Price Index (CPI) data showed inflation falling to 3% year-over-year,…
Buyers are back Purchase mortgage applications increased last week by 8% as rates eased slightly from their May highs. While rates remain in the same range, any improvement is welcome news for buyers, with the increase in applications proving that strong demand remains. This dip…
Rundown by rates We hope your week is off to a good start. There’s no question that rates are high right now as they hover around 7%, on par with the levels we saw late in 2022. That said, the market…
Spring buyers have few homes to choose from Last week we saw mortgage rates tick upwards again to two-month highs, but buyer demand continues to be strong. While rates above 6.5% keep some out of the market, other buyers are competing vigorously for the…
Getting ahead of the market Today we’re featuring insights and tips to help buyers prepare to enter the market, whether that day is coming soon, or further down the line. Last week the Federal Reserve raised rates by .25% again,…
Searching for a 5.5% rate Recently released March housing data shows exactly how much of a roller coaster homebuyers have been on so far this year. While existing home sales increased over 13% in February, the uptick in rates…
While spring is typically considered a prime time for the housing market, things are shaping up a bit differently this year. To start, inventory remains persistently low, with only 2.6 months of unsold inventory at current projections, according to…
Market forces push and pull on mortgage rates The combination of the Fed’s efforts to combat rising inflation and uncertainty in the banking sector are having a push and pull effect on mortgage rates. This week the Fed raised the Federal…
Jobs numbers remain strong, home price growth slows Mortgage rates rose again on a weekly basis, but we saw some improvement towards the end of this week. This comes on the heels of a February jobs report that was strong, but cooler than…