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 the next 6-12 months.

CPI came out lower than we thought which is great! With the 16% increase in gas the past month, we expected it to be much worse.

Looking at about an 18-month time span, shelter inflation is going to be coming down slowly in addition to rates over the next 6-12 months.

What does the price of homes look like? The housing market is still very strong and we are seeing all-time highs. Houses today are cheaper than what they are going to be tomorrow. Prices are going to continuing to go up so don’t wait to buy!

Students loans are kicking back in on October 1st, 2023. Interest starts on September 1st, 2023 which is going to continue to add to America’s debt, which is currently at an all-time high. Americans have more credit card debt than ever before so get prepared to stay ahead!

Stay tuned for more market updates as we get ready for what comes next week!

Mortgage Mark
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When you're hearing from 'Mortgage Mark' you're hearing years of excellent customer service and success from our passionate loan officers.

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