Daily Rate Update: August 2nd-6th

Wednesday – August 4, 2021 Home borrowing costs declined to lows not seen since February and remain at historically low levels. The Mortgage Bankers Association (MBA) reports that the 30-year fixed-rate mortgage fell four basis points to 2.97% with 0.33 … Read More

The Fed Keeps Buying and Rates Stay Low

It’s Jobs Week this week, meaning the ADP Private Payrolls and the Jobs Report for July will be released this week. Maximum employment is half the Federal Reserve’s mandate and it’s recent under performance is reason why the Fed says … Read More

Daily Rate Update: July 26th-30th

Friday – July 30, 2021 Inflation woes were allayed a bit this morning when a key gauge was better than feared. The June Core PCE grew 0.4%, slower than the 0.5% rise in May and below the gain of 0.6% … Read More

It’s Just The Facts: July 2021

IT’S DIFFERENT – The Federal Reserve measures inflation using the “Personal Consumption Expenditures” (PCE) price index while the government uses the “Consumer Price Index” (CPI) for the “cost of living adjustment” (COLA) to increase Social Security retirement benefits.  The CPI … Read More

Daily Rate Update: July 19th-23rd

Thursday – July 22, 2021 Home borrowing costs fell this week and remain at historically low levels. Freddie Mac reports that the 30-year fixed-rate mortgage fell ten basis points to 2.78% last week with 0.7 in points and fees. A … Read More

Volatility Is Back

Escalating fears and an uptick in the cases of the Delta variant of COVID around the globe is giving rise to a safe haven trade to start this week. Most everything is trading lower, with the exception of the U.S. … Read More

Daily Rate Update: July 12th-16th

Friday – July 16, 2021 Consumer spending surprisingly rebounded in June signaling Americans continue to spend which is boosting the U.S. economy. Sales were brisk across the board with services leading the way. June Retail Sales rose 0.6% from May … Read More

Forbearance Exits Are Speeding Up – Latest from HousingWire

Servicers’ forbearance portfolio volume dropped yet again, this time falling 11 basis points to 3.76% in the period ending July 4, according to a survey from the Mortgage Bankers Association.  It’s the 19th straight week of forbearance decreases. The MBA estimates that 1.9 million homeowners are … Read More

Daily Rate Update: July 6th-9th

Friday – July 9, 2021 “Consumers increasingly adamant that it’s a good time to sell, bad time to buy a home,” Fannie Mae. Fannie Mae released its Home Purchase Sentiment Index this week which was largely unchanged. The percentage of … Read More

Why We Are Not In A Housing Bubble

WATCH HERE: Why We Are Not In A Housing Bubble The most asked question about real estate today on Google = Are we in a bubble? The answer – no, we are not in a housing bubble. The current environment … Read More

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