Mortgage News For The Week Ended July 1, 2022
Economic Growth Concerns With global central banks aggressively tightening monetary policy to fight inflation, investors reduced their outlook for economic growth. As a result, mortgage rates declined from the highest levels since 2008 seen last week. The PCE price index is the inflation indicator favored by the Fed. In May, core PCE was 4.7% higher […]
Mortgage News For The Week Ended June 24, 2022
Home Sales Mixed With global central banks aggressively tightening monetary policy to fight inflation, this week investors reduced their outlook for economic growth. As a result, mortgage rates declined from the highest levels since 2008 seen last week. In May, sales of existing homes, which make up about 90% of the market, declined for the […]
Mortgage News For The Week Ended June 17, 2022
Fed Tightens The US Fed tightened monetary policy by a massive amount this week at its meeting on Wednesday, and other global central banks also have been taking aggressive steps to fight inflation. As a result, mortgage rates reached their highest levels since 2008. As expected, the Fed raised the federal funds rate by 75 […]
Mortgage News For The Week Ended May 27, 2022
Some Good News on Rates This past week, home loan rates improved to the best levels in a month. The 10-yr Note yield closed beneath 2.80% for two consecutive days for the first time since April 13th. Moves like these begin to suggest that rates may have peaked. The main reason for the decline in […]
Mortgage News For The Week Ended May 20, 2022
Consumer Spending Surges The major economic data released this week was roughly in line with the expected levels and caused little reaction. Tough talk from the Fed on fighting inflation also had little impact, and mortgage rates ended the week a bit lower. In April, retail sales rose a substantial 0.9% from March and were […]
Mortgage News for the week ended May 6, 2022
The Fed Takes Action The last Mortgage News for the past week: Federal Reserve hiked the Fed Fund Rate by .50%, the largest rate increase in 22 years. Let’s discuss what other action the Fed took, how the market reacted and what to look for in the week ahead. “I would like to first speak […]
