Mortgage Rates Continue to Slide Down
June 22, 2023
Mortgage rates slid down again this week but remain elevated compared to this time last year. Potential homebuyers have been watching rates closely and are waiting to come off the sidelines. However, inventory challenges persist as the number of existing homes for sale remains very low. Though, a recent rebound in single-family housing starts is an encouraging development that will hopefully extend through the summer.
Information provided by Freddie Mac.
Mortgage Rates Continue to Come Down
June 15, 2023
Mortgage rates decreased slightly this week in anticipation of the pause in rate hikes by the Federal Reserve. As inflation continues to decelerate, economic growth is slowing and the tightening cycle of monetary policy is reaching its apex, which means mortgage rates are expected to decrease later this year and into next.
Information provided by Freddie Mac.
Mortgage Rates Decline After a Three-Week Ascent
June 8, 2023
Mortgage rates decreased after a three-week climb. While elevated rates and other affordability challenges remain, inventory continues to be the biggest obstacle for prospective homebuyers.
Information provided by Freddie Mac.
Mortgage Rates Jump Up
June 1, 2023
Mortgage rates jumped this week, as a buoyant economy has prompted the market to price-in the likelihood of another Federal Reserve rate hike. Although there has been a steady flow of purchase demand around rates in the low to mid six percent range, that demand is likely to weaken as rates approach seven percent.
Information provided by Freddie Mac.
Mortgage Rates Continue to Increase
May 25, 2023
The U.S. economy is showing continued resilience which, combined with debt ceiling concerns, led to higher mortgage rates this week. Dampened affordability remains an issue for interested homebuyers and homeowners seem unwilling to lose their low rate and put their home on the market. If this predicament continues to limit supply, it could open up an opportunity for builders to help address the country’s housing shortage.
Information provided by Freddie Mac.
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