Mortgage Rates Drop!

Friday’s disappointing Jobs Report was actually great news for mortgage rates as it fueled a long-awaited rate drop. With unemployment trending higher, it’s more likely (almost guaranteed) that the Fed will finally start lowering the Fed funds rate in September. This means that we will start to see mortgage rates trend lower in anticipation of the Fed’s actions next month.

For more info, please check out my latest update.

If you’re considering buying or refinancing your home, please contact me. I am happy to help you or anyone you know!

Mortgage Rate Update for the Week of July 29, 2024

We have a lot taking place that may impact the direction of mortgage rates this week, including the Fed meeting and a couple of reports with employment data.

Want to know more? Please check out my latest video.

And remember, if you or anyone you, know are considering buying, refinancing, remodeling or selling your home, I am honored to help you!

Mortgage Rate Update for the Week of July 22, 2024

Mortgage interest rates are remaining fairly steady with potential to trend lower this week. If you’d like more details, check out my latest video!

Mortgage Market Update for the week of July 15, 2024

Mortgage rates have been trending lower! Check out my latest video to see what may impact the direction of mortgage interest rates this week.

 

Mortgage Market Update for the Week of July 8th

This week is loaded with events or data that may impact the direction of mortgage rates. Check it all out in my latest video.

Mortgage Market Update for the Week of July 1, 2024


Have a great, fun and safe Independance Day!

Mortgage Market Update for the Week of June 17, 2024

My apologies for being a day late publishing this video! Without further ado…

It’s Fed Day! [LIVE POST]

In a couple of hours, the FOMC will wrap up their two-day meeting with an announcement on their decision on if they are going to make adjustments to the Fed funds rate. The Fed funds rate does not directly affect mortgage interest rates (except for HELOCs) however, it does influence the direction of mortgage rates. This is because the Fed’s decision is based on the level of inflation. Mortgage rates react negatively to inflation as mortgage rates are based on bonds (mortgage-backed securities/MBS). So, when the Fed raises the funds rate or keeps the rate unchanged due to inflation being too high, mortgage rates tend to move higher. If inflation is in line, we often see mortgage rates improve. [Read more…]