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Now More Than Ever You Need to Compare Mortgage Rates

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 Mac’s 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.

Housing inventory falls under 1M again as sales collapse

Total housing inventory levels broke under 1 million in December, dropping to 970,00 units for a population of 330 million people.

Reconsidering a Range Breakout

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.  

Micheal Jones on a chief financial officer’s biggest challenges in 2023

Nominations for HousingWire’s 2023 HW Finance Leaders are open now through Friday, January 27, 2023. Nominate someone today!

Mortgage interest rates expected to drop in 2023—here’s by how much – CNBC

Mortgage interest rates expected to drop in 2023—here’s by how much  CNBC

Inventory needs to increase to balance housing market: Fed Beige Book

Available home inventory has remained low since the previous Federal Reserve Beige Book report, as many sellers have decided not to list.

Accused of illegally evicting Black and Latino renters, SoCal city, sheriff to pay $1 million

Hesperia and San Bernardino County Sheriff’s Department will pay $1 million to settle a suit alleging discrimination against Black, Latino tenants.

Mortgage rates dip back below 7% – CNN

Mortgage rates dip back below 7%  CNN

Mortgage Rates Should Be Lower, Here’s Why They Aren’t

You’re probably pretty stoked about the record low mortgage rates currently available with most banks and lenders nationwide. What’s not to like about an interest rate at or below 3% that is fixed for the next 30 years? While that’s certainly hard to argue, it doesn’t change the fact that mortgage rates could and should… Read More »Mortgage Rates Should Be Lower, Here’s Why They Aren’t

The post Mortgage Rates Should Be Lower, Here’s Why They Aren’t appeared first on The Truth About Mortgage.