While interest rates are always a topic of conversation in the housing and mortgage markets, everyone was talking about them last week. That tends to happen when the average 30yr fixed rate threatens to break into the high 3% range after a long absence. But just as quickly as the good times started to roll, rates […]
Since February 28th, the average mortgage rate quote for the average lender dropped by roughly half a percentage point. That makes March 2019 the best month for rates since the Fed first announced quantitative easing (the bond buying program that targeted mortgage rates) in late 2008.
It’s no small coincidence that Fed bond buying was responsible for the […]
Mortgage rates dropped to new long term lows this week with the average lender at the best levels since January 2018. For the most part, we haven’t seen much volatility this year, but that could change soon.
The absence of volatility is a factor of uncertainty, more than anything. Sources of uncertainty include:
Economic contraction potential […]
Things were starting to look pretty scary for housing up until a few weeks ago. There was a chance that some of the weakness was temporary. Last week’s strong Pending Home Sales report provided some hope, but we didn’t have any other big housing reports to validate the hope… until now.
New Home Sales were as low […]
Two weeks ago, the newsletter discussed why 2019 could actually be great for the housing market, despite downbeat reports and the likelihood of one more month of weakness for Existing Home Sales. That weakness showed up last week, but with it came a comment from the chief economist for the National Association of Realtors saying home sales were […]
The Federal Reserve (aka “the Fed”) is the US central bank that sets policies relating to the flow of money. Even though they’ll be the first to admit they don’t have perfect control of the situation, their goals are to keep employment high, prices stable, and financial instability at bay. Because these goals are often at odds and […]
The last 2 months of 2018 marked a solid run for mortgage rates. December was particularly good, with rates falling at the fastest pace in at least at least 4 years. Balance that against the fact that early November saw the highest rates in more than 7 years!
It’s not uncommon to see rates fall more […]