Mortgage Industry News
Feds raises rate a quarter point, inflation still a concern
February 1, 2023 (Staff Writer) The U.S. Federal Reserve (Fed) announced its first decision of 2023 for the Federal Funds rate today. An increase of 0.25 percentage points, taking rates between 4.50% and 4.75% was approved and adopted. This is now the eighth...
92% of millennial homebuyers say inflation has impacted their purchase plans, but most are plowing ahead anyway, study shows
Source: CNBC --- Millennials — who are roughly ages 27 to 42 — are in their prime homebuying years. While the combination of high home prices and rising interest rates has caused affordability issues for many buyers, the situation is gradually improving. The median...
Fed’s biggest rate hike since 1994 means millions more homebuyers may be priced out of the housing market
Source: MarketWatch --- Pity those first-time house buyers. On Wednesday, the U.S. Federal Reserve raised the benchmark interest rate by 75 basis points to a 1.5% to 1.75% range, the biggest increase since 1994 as it tries to tame rising inflation, which has reached a...
Today’s mortgage refinance rates increase : June 14, 2022
Source: Bankrate --- Several benchmark mortgage refi rates floated higher today, June 14th, according to data compiled by Bankrate. 30-year fixed refinance rate: 5.89%, +0.38 vs. a week ago 15-year fixed refinance rate: 5.05%, +0.34 vs. a week ago 10-year fixed...
I’m the Chief Economist for the National Association of Realtors. Here Are 6 Things To Know About the Housing Market Now
Source: Realtor --- As mortgage rates inch upwards (you can see the lowest mortgage rates you may qualify for here) and home prices keep climbing, many aspiring buyers are wondering: What should I know about the housing market now? So—as part of our series where we...
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