July 18, 2024 The 30-year fixed-rate mortgage fell to its lowest level since mid-March, dropping 12 basis points from last week. Mortgage rates are headed in the right direction and the economy remains resilient, two positive incremental signs for the … Continue reading
July 11, 2024 Following June’s jobs report, which showed a cooling labor market, the 10-year Treasury yield decreased this week and mortgage rates followed suit. There is also more inventory on the market, including a fair number of listings with … Continue reading
July 3, 2024 Mortgage rates increased this week, coming in just under seven percent. Both new home and pending home sales are down, causing active listings to rise. We are still expecting rates to moderately decrease in the second half … Continue reading
June 27, 2024 The 30-year fixed-rate mortgage continues to trend down, hitting the lowest level in almost three months. By historical standards, the economy is in good shape, and we expect rates to continue to come down over the summer … Continue reading
June 20, 2024 Mortgage rates fell for the third straight week following signs of cooling inflation and market expectations of a future Fed rate cut. These lower mortgage rates coupled with the gradually improving housing supply bodes well for the … Continue reading
June 13, 2024 Mortgage rates continued to fall back this week as incoming data suggests the economy is cooling to a more sustainable level of growth. Top-line inflation numbers were flat but shelter inflation, which measures rent and homeownership costs, … Continue reading
June 6, 2024 Mortgage rates retreated this week given incoming data showing slower growth. Rates are just shy of seven percent, and we expect them to modestly decline over the remainder of 2024. If a potential buyer is looking to … Continue reading
May 30, 2024 Following several weeks of decline, mortgage rates changed course this week. More hawkish commentary about inflation and tepid demand for longer-dated Treasury auctions caused market yields to rise across the board. This reality, as well as economic … Continue reading
May 23, 2024 Spring homebuyers received an unexpected windfall this week, as mortgage rates fell below the seven percent threshold for the first time in over a month. Although this week’s data on previously owned home sales showed a decline, … Continue reading
