How To Increase Your Credit Score In Just 6 Steps Wondering how to increase your credit score? If so, you've come to the right place! Whether you want to improve your credit score because you plan on buying a home or just want to clean it up for your future this article outlines the steps you'll need to take. With a few simple adjustments to your financial habits and lifestyle, you can start getting your credit score back on track. By doing so you'll be able to obtain favorable loan terms in the future and not worry about loan denial. Keep reading to learn more about how to raise your … Continue reading...
Inventories in the housing market
Inflation and Inventories Recent inflation data has seen a bit of cooling off in the numbers which in turn has helped borrowing costs to decline. And with the spring buying season underway, lower mortgage rates can be an unexpected positive boost for the season. The Mortgage Bankers Association (MBA) reported that mortgage application volumes rose each week in March as the benchmark 30-year fixed rate fell a little over half a point from the beginning of the month, now in the lower 6% range. Also, the MBA said that mortgage payments increased in February but given ongoing economic … Continue reading...
Update for 3-18 on Market update for buyers
A Look Into the Markets This past week, home loan rates improved to their lowest levels in a month in response to the closures of Silicon Valley Bank (SVB) and Signature Bank. Let's walk through what happened as we approach the Fed Meeting next week. "Bringin' on the heartache, Can't you see?, Can't you see?" Bringin' on the Heartbreak? Def Leppard. SVB Failure and Rates It's important to remember that bonds enjoy bad news, so when word broke earlier this week that SVB was shuttered by the FDIC, home loan rates improved to their best level in six weeks. At the same time, the … Continue reading...
Weekly Information on Interest rates
Weekly Mortgage Report - February 17, 2023 Per Freddie Mac’s Primary Mortgage Market Survey, the 30-year fixed rate increased 20 basis points based on applications collected from Freddie dating 2/9/23 – 2/15/23. Mortgage rates moved up for the second consecutive week. The economy is showing signs of resilience, mainly due to consumer spending, and rates are increasing. Overall housing costs are also increasing and therefore impacting inflation, which continues to persist. January CPI data from the Bureau of Labor Statistics was released Tuesday 2/14/23, showing core CPI increasing 0.4% … Continue reading...
Forcast on Interest rates!
This Week's Mortgage Rate Forecast: Rates could be volatile image This week could see rates move a lot day-to-day, and could also set the tone for how rates will move higher or lower from here in coming weeks. Wednesday's Fed meeting and press conference will cause the biggest moves, followed by jobs and wage data on Friday and consumer confidence data on Tuesday. This is a good week to stay in contact with your mortgage professional. What's affecting rates this week: Economic data: A busy week of data that includes consumer confidence as well as jobs and wage reports, all of which … Continue reading...
Interest rates
MORTGAGE RATES CURRENTLY TRENd During the week ending 1/13, mortgage application submissions saw a huge 27.9% surge. Refinance application submissions soared 32% week-over-week while purchase application submissions jumped 25% week-over-week. Retail sales slipped 1.1% month-over-month in December. They were expected to decline 0.8%. Weaker economic data like the above typically leads to lower rates, all other things being equal. The NAHB housing market sentiment index had a much-need increase in January – likely due to the recent swing of positive rate news. Continuing jobless claims … Continue reading...
Market
By Craig Wales on 12/29/2022 Tags: market update Looking ahead at the housing market in 2023 Rollercoasters are designed to take riders on an unpredictable journey with periods of exhilaration, intensity and fear. Kind of sounds like the housing market over the last twelve months, doesn’t it? 2022 was truly a roller coaster year in housing. Just to look at one metric that we’ve been following all year, the average 30-year fixed mortgage rate in January of 2022 was 3.60%--in December of 2022 that rate stood at 6.39%. That was just a few weeks after it average rate reached 7.20%, its … Continue reading...
Interest rates!
It's no secret 2022 was a weird year for real estate. Mortgage rates hit a 20 year high and both buyers and sellers had to adjust to the shifting market. Sellers weren't seeing 10+ offers overnight, all over asking price, and buyers were seeing less competition with their offers. We're seeing houses stay on the market longer, offers coming in at or even below asking, and even sellers offering concessions to buyers. In a report gathered by Redfin, "Sellers gave concessions in 41.9% of home sales in the fourth quarter." Although a straight credit to closing costs is never a bad thing, … Continue reading...
Last week of 2022 Mortgage report
Weekly Mortgage Report - Last Week of 2022 The 30-year fixed rate moved higher for the week ended December 28, 2022. According to the Freddie Mac Primary Mortgage Market Survey, the 30-year increased 15 basis points from 12/22/22 – 12/28/22. 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 … Continue reading...
Interest Rates got you down?
With the sharp rise in interest rates starting in 2nd Quarter of this year today's so many of today's buyers decided to put their home searches on pause and see if they could time the market. In reality this will probably not work for the vast majority of buyers who are hoping to buy in 2023. Here is a real time line from a new construction home that was bought in July of 2000 - just over 22 years ago. Their initial interest rate on their mortgage was 8.27%. A few years later, 5/18/01, they refinanced to: 7.02% - meanwhile their home was slowly appreciating in value. The interest … Continue reading...