Should You Buy a Home Now or Wait? May 20, 2024

Buying a home now, rather than waiting for lower interest rates, offers several compelling advantages. Despite the appeal of potentially lower future rates, the current market presents opportunities that might outweigh the benefits of waiting. Home prices are generally on an upward trend, and delaying a purchase could result in

Mortgage Rates higher to start April April 2, 2024

Today, mortgage rates are on the rise, propelled by the persistent stagnation in the battle against inflation. As consumer prices continue to surge, lenders are adjusting their rates to hedge against the eroding value of money over time. The Federal Reserve’s efforts to tame inflation through interest rate hikes have

Mortgage Interest Rates Weather the CPI Storm! March 13, 2024

After the release of yesterday’s Consumer Price Index (CPI) report, mortgage interest rates experienced only a modest increase. Despite expectations for potentially significant fluctuations, the market responded with relative stability. This minimal uptick in rates reflects a cautious approach from lenders amidst economic indicators, as they assess the inflationary pressures

Mortgage Interest Rates Back on the Rise February 22, 2024

With the slight bump up today, the average 30 year fixed mortgage interest rate is as high as it’s been since the latter part of November 2023.  The good news is that today’s 30 year rate is still almost a full percent lower than the high we saw in October

New Housing Looking Better! February 21, 2024

The government tracks how many new houses are being built by gathering the number of new house permits are issued by counties and other municipalities.  They separate those into single family building permits and multi family (duplex, fourplex, apartments, etc) building permits.  It’s a good measure of what is happening

Mortgage Rates Move Sharply Higher February 6, 2024

Last Friday was the worst day for mortgage interest rates for over a year in movement from one day to the next.  The cause?  The all important jobs report that gets released at the first part of every month, usually the first Friday of the month.  The report basically said

First Fed Meeting of 2024 January 31, 2024

Today the Federal Reserve met for the first time this year.  As expected, they did not decided to lower the Fed Funds rate, not did they raise it.  However, many were hoping for language or an indication that rate cuts are coming.  Fed Chair Jerome Powell did say that inflation

Will the Fed cut Rates soon??? January 9, 2024

We know the only way mortgage rates come down is if inflation is tempered, which will cause the Federal Reserve to lower their benchmark rate.  So the question is, will that happen soon in 2024? There are a number or signs that can give us a whisper of prediction on

Boring Start to 2024 for Mortgage Rates January 8, 2024

Around the middle of December 2023 mortgage rates came down from around 7.0% at the beginning of the month to the mid to low 6%’s.  Since then, they really haven’t moved.  We have had many economic reports including unemployment, new jobs and holiday spending.  All of these can affect mortgage

Mortgage Interest Rates Going Down! December 6, 2023

It has been a “hot minute” since we have been able to celebrate a lengthy run down for mortgage interest rates.  Yesterday rates were officially the lowest they have been since July 2023.  Many lenders are quoting 6.75% for a 30 year fixed rate mortgage.  After hitting a high of