Thursday – July 9, 2020 Mortgage rates continued to hit record lows in the latest survey which is spurring on homebuyer demand. Freddie Mac reports that the 30-year fixed-rate mortgage fell to 3.03% with 0.8 in points and fees. A … Read More
The average rate for a 30-year fixed mortgage is now at 3.07%. That’s down from 3.13% just last week, according to Freddie Mac. Why do mortgage rates continue to drop? Investors are piling into the bond markets right now because … Read More
Wednesday – July 1, 2020 The labor markets continue to hear positive news as many states have reopened and Americans slowly return to work. ADP Private Payrolls rose by 2.37 million in June versus the 3.5 million expected. The May … Read More
BUYING ASSETS – The Fed is projected to buy $3.5 trillion in Treasury securities by 12/31/20. Technically, the Fed does not buy Treasuries directly from the government, but rather it buys previously issued Treasury securities from 21 “primary dealers,” i.e., … Read More
Friday – June 26, 2020 Consumer Sentiment continues to rebound in June after the steep decline seen in April from March. After the 89.1 seen in March, April fell to 71.8 while June hit 78.9. The numbers in the second … Read More
FED ACTION – When the Federal Reserve cut short-term interest rates to near zero on 12/16/08 during the global real estate crisis, they did not raise rates again until 12/16/15 or 7 years later. The Fed has once again cut … Read More
Friday – June 19, 2020 Signs that the U.S. economy is recovering as states reopen continued today with many reports streaming in positive since May. McDonald’s, the world’s largest fast-food chain, announced this week it will be hiring 260,000 workers … Read More
If you locked in an interest rate on Thursday, you are one happy camper today. Mortgage rates dropped to an all-time low last week. They settled at 3.1% for a 30-year fixed-rate mortgage. This came right after the week before … Read More
Friday – June 11, 2020 Consumers were more hopeful of a recovery to the U.S. economy in the early part of this month as many states reopened and the employment picture for May showed signs of a turnaround. Consumer Sentiment … Read More
Today had some very promising data for the housing market, pointing towards the possibility of a v-shaped recovery. Here are some facts that came on Monday, June 8th: The JOLTS Job Report showed a gain of 2.5 million jobs The … Read More