Declining inflation helps to keep rates stable for now

The December inflation report came in at 6.5% down from 7.1% in November. This was in line with expectations but was met with a sigh of relief in the market as we saw the bond market rally and we broke down below 6% briefly. That was short lived and we find ourselves about where we […]

Key indicators for mortgage rates in 2023

I hope everyone is having a great start to the New Year! If 2023 could be a little bit more chill that would be great. So what’s the storyline going to be for this year? Well to be brief, it’s all about the Fed. More specifically if they will keep raising rates or whether, at […]

2022 Year End Market Report

I had to do a double take on this one. We’ve all heard the lack of inventory this year but the above chart highlights just how low the inventory has been. One of the biggest reasons for the inventory shortage is the under production of new single-family homes for the past 13 years. The chart […]

Mortgage Rates Remain Steady in December after Promising Inflation Report

It’s been a fairly uneventful month so far when it comes to interest rates. Based on this year, I will take it! The Fed did raise rates by ½% which was expected. What wasn’t as expected was the continued deceleration of inflation. Inflation only (ha) rose by 7.1% on a year-over-year basis, that’s down from […]

Christmas is Coming Early for Mortgage Rates

I don’t know about you but all I want for Christmas are lower interest rates. So far so good! The drop in rates today is due to Fed chair Jerome Powell saying that the pace of interest rate hikes may be slowing going forward. That’s all the market needed to hear to cause stocks to […]