Mortgage rates hit 20-year high – CNN
Mortgage rates hit 20-year high CNN
Mortgage rates hit 20-year high CNN
Fed’s actions are meant to tame inflation While noting the Fed’s actions appear to be yielding results in curbing inflation, she was taken aback the central bank didn’t allow for the traditional six-month period between rate hikes to test its impact on the market as it historically has done. Instead: “The Fed raised rates seven … [Read more…]
Some home builders are offering mortgage rates as low as 3 … Morningstar
The last two weeks have been crazy in the mortgage world. In early March, the industry celebrated as mortgage rates hit record lows. Per Freddie Macâs weekly survey, the 30-year fixed fell to 3.29%, its lowest point since tracking began in 1971. It narrowly beat out the record low of 3.31% set in late 2012,… Read More »Now More Than Ever You Need to Compare Mortgage Rates
The post Now More Than Ever You Need to Compare Mortgage Rates appeared first on The Truth About Mortgage.
Total housing inventory levels broke under 1 million in December, dropping to 970,00 units for a population of 330 million people.
Since coming off the highest rates in more than a decade in November, bonds ran into resistance just before the end of the year. That resistance coincides with 10yr yields in the 3.40-3.42 neighborhood. While we did see slightly lower levels earlier this week, it seems we can’t yet say that a definitive breakout has taken place. Part of the hesitation in longer-term bonds could be due to the absence of a clear commitment in expectations for short-term rates. Specifically, the market increasingly believes that the Fed will keep rates higher for longer even though they don’t see the Fed getting “over 5%” as most Fed speakers have suggested. The following chart of Fed Funds Futures for September shows more of a consolidation of expectations as opposed to an outright shift. There’s nothing too meaty on the calendar today, nor at the beginning of next week. Traders may have to hear from the Fed the week after that before committing to the range breakout.
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Mortgage interest rates expected to drop in 2023âhere’s by how much CNBC
Available home inventory has remained low since the previous Federal Reserve Beige Book report, as many sellers have decided not to list.