Hi Friends, The most recent Fed meeting on 9/17 didn’t surprise anyone with the Fed voting 11–1 to lower the federal funds target rate by 0.25%, bringing the range down to 4%–4.25%. This rate cut was already baked into [...]
Lowest Levels Since March 2023 On August 2nd we saw mortgage rates fall to their lowest levels since March of 2023, very close to 6% APR for 30 Year Fixed. My phone and e-mail have been inundated since then [...]
30-Year Rate Drop The Federal Reserve is finally in agreement that inflation is heading towards their 2% target due to the better-than-expected June CPI (Consumer Price Index) inflation readings. The June CPI report showed that overall inflation was down [...]
The Indonesia SCUBA dive trip was a huge success! We were in North Sulawesi on the Islands of Bunaken, Bangka, and Lembeh. The amount of biodiversity in the oceans around these islands is staggering. Every coral field seems endless with [...]
Fed Funds Rate Stayed the Same Good news for mortgage interest rates in May with the Federal Reserve leaving their target rate, The Fed Funds, in the range of 5.25% - 5.5%. The Fed did not increase the Fed [...]
Rate Cut Delay After a nice move down in mortgage interest rates to end the month of March 2024, rates began marching upwards again in April 2024. We saw 30-year fixed mortgage rates get close to 6.5% APR in [...]
Fed Still Holding the Line No surprises were coming out of the most recent two-day Federal Reserve Open Market Committee Meeting (FOMC) that concluded on March 20th, 2024. The Fed kept the status quo and refrained from cutting their [...]
Inflation Stubbornly High Mortgage rates continue to remain stubbornly high due to the worse-than-expected inflation readings in February. The average 30-year Fixed interest rates fell close to 6% APR for zero points right around Christmas of last year. That [...]
They grow up fast! This holiday season I was fortunate to spend some time with my only child, my daughter Savita, who lives in Berlin, Germany. She is finishing her master’s degree in journalism at an international university in [...]
Hikes on Hold The Federal Reserve continued holding on interest rate hikes and finally started showing signs that rate cuts would be coming soon. After the December 12-13 Federal Open Committee Market (FOMC) meeting, the Fed not only paused [...]
Rate Hike Pause Continues At the conclusion of the November 1, 2023, Federal Reserve meeting, the Fed continued the pause in interest rate hikes to the Fed Funds rate. This was a follow-through on the pause from the September [...]
Loan Options As a mortgage consultant, it's important to me be able to educate clients to ensure that they understand the various financing options available to meet their needs. Today, I'd like to discuss a less commonly understood type [...]
Still Waiting Mortgage interest rates have yet to make a significant move lower because the inflation numbers haven’t decreased enough to create more demand in the bond market. I had been hoping for rates to improve after the 5/10/23 [...]
Hello, friends. Home Buying Competition The spring home-buying season is starting to heat up in my area and it is starting to feel a lot like 2020 and 2021 again. Many of the home buyers I have pre-approved for [...]
Recession Déjà Vu Hi Friends, March was a volatile month in the markets. The headlines were full of news that reminded us of the Great Recession of 2008 with multiple banks facing major liquidity issues. The Federal Reserves’ steep [...]
Home Buying Is Up Hi Friends, As mortgage interest rates have started to fall with inflation in the first quarter of this year, I have experienced an increase in home buyer activity and mortgage applications. The recent slight dip [...]
Rates Heading Down Mortgage rates have stabilized and are slowly heading lower due to the continued good news on inflation. PCE: Measure of Inflation The Fed’s favorite measure of inflation, Personal Consumption Expenditures (PCE), showed that inflation rose 0.1% [...]
Happy new year, friends! Rates Down As Predicted Mortgage interest rates finally started falling in November 2022, as I had predicted in my November newsletter. Year over year inflation numbers started to come down, which is great news for [...]
Hi Friends, Mortgage interest rates continue to be high due to the hottest inflation readings in over 40 years. The effects of the Federal Reserve’s rate hikes are not yet making a significant impact on reducing inflation, but there [...]
Hi Friends, Mortgage interest rates are at the highest levels I have seen since 2007. They have more than doubled since December of 2021 and the effects of this rapid rise in rates are finally being felt in the [...]
Refinances & Purchases Drop Hi Friends, Mortgage rates keep rising at a very brisk pace. May 2022 saw mortgage interest rates rise up 2.375% higher than they were in December of 2021. Refinances were down over 75% month over [...]
Home Buyer Squeeze Hello friends, Mortgage rates keep rising at a very brisk pace. April 2022 saw mortgage interest rates rise up 2% higher than they were in December of 2021. This quick rise in rates has obvious consequences. [...]
Hello friends, A lot has happened since I penned the last installment of my newsletter. Continued rising inflation, historically high gas prices, the Federal Reserve’s March meeting that resulted in a rate hike, a volatile stock market, faster rising [...]
