The second and third largest bank failures in history happened over the weekend.  And the markets reacted as you would think they would.  Stocks panicked.  Money moved to bonds.  Mortgage Interest Rates fell significantly.  Anytime bond gain and stocks slide it is good for mortgage rates.  But also the markets were thinking that maybe it’s…

The last time 30 year fixed mortgage interest rates were higher than now you would have to go back to November 9th, 2022.  It was economic data yet again that caused rates to go up this week.  Thankfully, it wasn’t data that was very consequential to the United States ecnonomy,  However, there are more important reports…

“Both consumer homebuying and home-selling sentiment are significantly lower than they were last year, which, in our view, is unsurprising considering mortgage rates have more than doubled and home prices remain elevated,” said Doug Duncan, Fannie Mae Senior Vice President and Chief Economist. “Following eight months of consecutive declines, the HPSI did tick up slightly…