Mortgage rates fell as the banking crisis got worse and we may have found the bottom of seasonal housing inventory. The housing market was crazy again last week. Mortgage rates fell as the banking crisis got worse and purchase application data grew for the second week in a row, but the big question is: Did
If the mortgage market wasn’t so stressed, mortgage rates should be at 5.99% today. In a regular market, they would be closer to 5.25%. The financial and housing markets are still trying to sort out the banking crisis and whether we have seen the last Fed rate hike in this cycle. These events led to
Last week’s housing inventory data shows we still haven’t seen the traditional spring increase in inventory. Last week was relatively calm for the housing market after the fiasco of the banking crisis. Housing demand grew and inventory levels fell again while mortgage rates rose. Here’s a quick rundown of the last week: The 10-year yield
Housing Inventory Data Shows No Traditional Spring Increase Yet Read More »
Mortgage rates started last week at 6.44% and fell to a low of 6.16%, then ended the week at 6.34%. Expect another volatile pricing week. The housing market welcomed the news of lower mortgage rates last week after four reports showed that the labor market isn’t as tight as it seems and that the fear
Mortgage Rates Fall as 10-Year Yield Breaks Critical Level Read More »
Active housing inventory fell 5,383 last week and new listing data is still trending at all-time lows in 2023. The seasonal housing inventory bottom evaded us again last week as active listings fell and new listing inventory decreased. Purchase application data rose again, with more positive than negative data in 2023. Mortgage rates didn’t move
