Ruth Whitney Bowe

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Mortgage Rates Continue to Shift Down

February 2, 2023 by Ruth WhItney-Bowe

February 2, 2023
Mortgage rates inched down again, with the 30-year fixed-rate down nearly a full point from November, when it peaked at just over seven percent. According to Freddie Mac research, this one percentage point reduction in rates can allow as many as three million more mortgage-ready consumers to qualify and afford a $400,000 loan, which is the median home price.

Information provided by Freddie Mac.

Filed Under: Interest Rates

Mortgage Rates Trend Down

January 26, 2023 by Ruth WhItney-Bowe

January 26, 2023
Mortgage rates continue to tick down and, as a result, home purchase demand is thawing from the months-long freeze that gripped the housing market. Potential homebuyers remain sensitive to changes in mortgage rates, but ample demand remains, fueled by first-time homebuyers.

Information provided by Freddie Mac.

Filed Under: Interest Rates

Mortgage Rates Continue to Decrease

January 21, 2023 by Ruth WhItney-Bowe

January 19, 2023
As inflation continues to moderate, mortgage rates declined again this week. Rates are at their lowest level since September of last year, boosting both homebuyer demand and homebuilder sentiment. Declining rates are providing a much-needed boost to the housing market, but the supply of homes remains a persistent concern.

Information provided by Freddie Mac.

Filed Under: Interest Rates

Mortgage Rates Decline

January 12, 2023 by Ruth WhItney-Bowe

January 12, 2023
While mortgage rates have resumed their decline, the market remains hypersensitive to rate movements, with purchase demand experiencing large swings relative to small changes in rates. Over the last few weeks latent demand has been on display with buyers jumping in and out of the market as rates move.

Information provided by Freddie Mac.

Filed Under: Interest Rates

Mortgage Rates Inch Up

January 5, 2023 by Ruth WhItney-Bowe

January 5, 2023
Mortgage application activity sunk to a quarter century low this week as high mortgage rates continue to weaken the housing market. While mortgage market activity has significantly shrunk over the last year, inflationary pressures are easing and should lead to lower mortgage rates in 2023. Homebuyers are waiting for rates to decrease more significantly, and when they do, a strong job market and a large demographic tailwind of Millennial renters will provide support to the purchase market. Moreover, if rates continue to decline, borrowers who purchased in the last year will have opportunities to refinance into lower rates.

Information provided by Freddie Mac.

Filed Under: Interest Rates

November Monthly Skinny Video

January 3, 2023 by Ruth WhItney-Bowe

Filed Under: Interest Rates

October Monthly Skinny Video

January 3, 2023 by Ruth WhItney-Bowe

Filed Under: Interest Rates

The 30-Year Fixed-Rate Moves Higher

December 29, 2022 by Ruth WhItney-Bowe

December 29, 2022
The housing market remains in the doldrums with declining sales, inventory and prices. The declines in sales and deceleration in home prices began swiftly earlier in 2022 but have moderated more recently. While the intensity of weakness is moderating, the market continues to decline and forward leading indicators suggest housing will remain weak throughout the winter.

Information provided by Freddie Mac.

Filed Under: Interest Rates

The 30-Year Fixed-Rate Mortgage Continues to Trend Down

December 22, 2022 by Ruth WhItney-Bowe

December 22, 2022
Heading into the holidays, mortgage rates continued to move down. Rates have declined significantly over the past six weeks, which is helpful for potential homebuyers, but new data indicates homeowners are hesitant to list their homes. Many of those homeowners are carefully weighing their options as more than two-thirds of current homeowners have a fixed mortgage rate of below four percent.

Information provided by Freddie Mac.

Filed Under: Interest Rates

Mortgage Rates Continue their Downward Trajectory

December 15, 2022 by Ruth WhItney-Bowe

December 15, 2022
Mortgage rates continued their downward trajectory this week, as softer inflation data and a modest shift in the Federal Reserve’s monetary policy reverberated through the economy. The good news for the housing market is that recent declines in rates have led to a stabilization in purchase demand. The bad news is that demand remains very weak in the face of affordability hurdles that are still quite high.

Information provided by Freddie Mac.

Filed Under: Interest Rates

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