Mortgage Market Update for the week of May 13, 2024

My apologies for being a week (plus one day) behind on my weekly update. Last week I was on vacation in California visiting my wonderful sister-in-law. I’m back to work now! Please let me know if you need any assistance with your mortgage or real estate needs.

Mortgage Market Weekly Update for April 29, 2024

This is a BIG week with the wrap up of the two day Fed meeting and the Jobs Report… want to know more? Check out my latest video.

Mortgage Rate Update for the week of April 22, 2024

Want to know what’s up with mortgage rates? Check out my latest video!

Mortgage Market update for the week of April 8, 2024

Where are mortgage rates? Check out my latest update for this week!

Mortgage Market Update for the Week of April 1, 2024

It’s Jobs Week! Check out what’s impacting mortgage rates this week in my latest video.

Weekly Mortgage Update for March 25, 2024

We have a short week with the Easter holiday weekend. Bond markets will close early on Thursday and remain closed on Friday.

Want to know where mortgage rates are and what may impact the direction of mortgage rates this week? You’re in the right place! Check out my latest video for the details!

Fannie Mae’s March Forecast Stomps out 5% Mortgage Rates

Fannie Mae released their monthly forecast for mortgage rates. The previous month, they received a lot of attention because of how rosy it was with rates forecasted to hit 5.9% by the end of this year with nearing the mid-5% range in 2025. The March forecast, which was released yesterday, is not as optimistic. [Read more…]

It’s FED Day!

Today the FOMC wraps up their two-day meeting and around 11:00 am PST, we will learn if the Fed is going to make any adjustments to the Fed Funds rate. It is widely expected they will not adjust the rate today.

What may impact mortgage interest rates today will be the press release and Fed Chair Powell’s commentary following the meeting.

As I write this post at 7:58 a.m., mortgage-backed securities are pretty flat with the 30YR 6% up 3 basis points. The DOW is up 33 to 39,243. [Read more…]