From Our Economists
Today’s Fed Meeting Brings Good Vibes For Homebuyers, Pushing Mortgage Rates Below 7% For First Time Since July
The Fed’s forecast that it will cut interest rates three times in 2024, up from a previous projection of two times, is already helping with housing affordability. Daily average mortgage rates dropped to 6.82% after the Fed meeting. The Fed held interest rates steady at its December 13 meeting, as expected, though they’re still sitting
Promising Inflation Report Makes It Less Likely Buyers Will See an 8% Mortgage Rate Anytime Soon
Serious homebuyers should be on the lookout for a good time to lock in a lower mortgage rate–and now could be that time. The October inflation report has already pushed mortgage rates down to 7.4% from nearly 7.6% the day before. Good inflation news. Headline inflation was unchanged from the month before in October. That’s
Rates are Falling on News of a Softening Job Market. Now May Be a Good Time to Lock in a Mortgage.
The latest labor-market report closes out a week of good news for mortgage rates. The October jobs report shows slower-than-expected growth in the labor market, which has already pushed interest rates down and driven mortgage rates down to 7.36%, their lowest level since mid-September. This labor-market report closes out a week that has already brought
Economic Events Are Pushing Mortgage Rates Down … For Now. Homebuyers May Want to Lock in a Rate This Week.
The U.S. treasury announced they’re going to issue less long-term debt than expected and the Fed held interest rates steady. Those two events brought rates down a bit–at least temporarily. Mortgage rates came down slightly today, with the daily average 30-year rate dipping to 7.69%, its lowest level in about three weeks. Rates hit a
Mortgage Rates Keep Rising Because the Economy Keeps Growing
When the 10-year treasury yield increases, mortgage rates increase. Several factors are causing the treasury yield to rise, including a resilient job market and consumers spending freely on things like Taylor Swift concerts and tickets to the Barbie movie. The average 30-year mortgage rate hit 7.79% last week, its highest level in 23 years. Despite
September’s Inflation Report Unlikely to Push Mortgage Rates Up or Down
September’s CPI report came in just a touch above expectations, but not enough to change our outlook for the Fed’s next move. They’re still unlikely to hike interest rates next month, and mortgage rates should remain about where they are. Overview of latest inflation report: The September consumer price index (CPI), the latest overall measure
Today’s Fed Meeting Brings Good Vibes For Homebuyers, Pushing Mortgage Rates Below 7% For First Time Since July
The Fed’s forecast that it will cut interest rates three times in 2024, up from a previous projection of two times, is already helping with housing affordability. Daily average mortgage rates dropped to 6.82% after the Fed meeting. The Fed held interest rates steady at its December 13 meeting, as expected, though they’re still sitting
Promising Inflation Report Makes It Less Likely Buyers Will See an 8% Mortgage Rate Anytime Soon
Serious homebuyers should be on the lookout for a good time to lock in a lower mortgage rate–and now could be that time. The October inflation report has already pushed mortgage rates down to 7.4% from nearly 7.6% the day before. Good inflation news. Headline inflation was unchanged from the month before in October. That’s
Rates are Falling on News of a Softening Job Market. Now May Be a Good Time to Lock in a Mortgage.
The latest labor-market report closes out a week of good news for mortgage rates. The October jobs report shows slower-than-expected growth in the labor market, which has already pushed interest rates down and driven mortgage rates down to 7.36%, their lowest level since mid-September. This labor-market report closes out a week that has already brought
Economic Events Are Pushing Mortgage Rates Down … For Now. Homebuyers May Want to Lock in a Rate This Week.
The U.S. treasury announced they’re going to issue less long-term debt than expected and the Fed held interest rates steady. Those two events brought rates down a bit–at least temporarily. Mortgage rates came down slightly today, with the daily average 30-year rate dipping to 7.69%, its lowest level in about three weeks. Rates hit a
Mortgage Rates Keep Rising Because the Economy Keeps Growing
When the 10-year treasury yield increases, mortgage rates increase. Several factors are causing the treasury yield to rise, including a resilient job market and consumers spending freely on things like Taylor Swift concerts and tickets to the Barbie movie. The average 30-year mortgage rate hit 7.79% last week, its highest level in 23 years. Despite
September’s Inflation Report Unlikely to Push Mortgage Rates Up or Down
September’s CPI report came in just a touch above expectations, but not enough to change our outlook for the Fed’s next move. They’re still unlikely to hike interest rates next month, and mortgage rates should remain about where they are. Overview of latest inflation report: The September consumer price index (CPI), the latest overall measure
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