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 […]

Lower Than Expected Inflation Numbers

A great start to the week for mortgage rates fueled by lower than expected inflation numbers. Year over year inflation only increased by 7.7% instead of 7.9% which was expected by economists. Even though that number still is way too high it gives more weight to the theory that inflation peaked at 9.1% back in […]

Mortgage Rates Continue to Hold at Key Level Ahead of November Fed Meeting

Happy Halloween! I’ll let you come up with your own Halloween pun about how scary rates look this year : ) Well as I mentioned last update we were at a pivotal point for mortgage rates. Lucky for us the 4% yield on the 10 year treasury still appears to be holding. I know it […]