Weekly Mortgage Update

What’s your goal for 2024? Let’s hold each other accountable by sharing these with each other. Find Mortgage Mark’s goal and inspiration below! We are in the high 6’s and programs where they are in the low 6’s. We’re losing a little bit of steam and tomorrow we’ll get to hear the job reports. If…

Those interest rates… Well, they did it. They made it to 8%. None of us are happy and inflation is still (obviously) higher than we all like. Worker Adjustment and Retraining Notification Act A lot of WARNs have been sent out saying they are going to be laying people off. According to our graph, jobless…

Welcome back to another weekly mortgage update! A few things surprised us this week. Mortgage rates slightly improved this week but we are hitting a resistance level. We are still in the mid to high 7% range for 30-year fixed rates with a possibility of drifting higher. But here’s some good news! Jumbo No More…

Weekly Market Update September 25 – September 29, 2023 Realtors and Builders Unfortunately, weekly mortgage rates keep getting worse and are now in the 8’s. Hopefully we have established a new bottom and we can make our way back as inflation comes down. Inflation will come out on the PCE released tomorrow, September 29th, 2023.…

If you’re a home builder, realtor, or someone in the real estate profession, you’ll want to pay attention to these stats. While this week’s video might not be the most entertaining, it sure has some positive information that we all have been hoping for. Rates? Still going up. When red goes down on the chart,…

Weekly Market Update August 28 – September 1 There is BIG news coming your way. Rates are finally starting to come down into the low 7’s! During the last week and a half, we’ve been seeing these improvements. The Fed is trying to fight inflation! In my opinion, rates should be in the low 6’s.…

Weekly Market Update August 13 – August 19 If you’re in the real estate business, whether that is in building, realtor, investor, we have some exciting data to share! Rates still aren’t great and are in the 7’s. The underlying theme is that jobs are getting cut and job losses are adding up. Inflation is…

Weekly Market Update August 7 – August 11 Welcome to this week’s market update! As we take a look at rates, we can still see that they aren’t great hovering in between high 6 and low 7. It is higher than what we’ve been forecasting but we are still hopeful for an upcoming decrease in…

Weekly Market Update July 10 – July 14 We’ve officially reversed last week’s mortgage rate damage. But as of yesterday, and today, inflation figures have finally shown that we are right, and numbers are coming down. However, shelter costs are still lagging. We’re expecting to see this drop in the coming months based on the…