Market Updates

Oct. 27, 2022

Mortgage rates reach their highest level in 20 years

Mortgage rates reach their highest level in 20 years

For the week ending Oct. 27, the average 30-year fixed mortgage rate shot up to 7.08%. According to Freddie Mac, this is the first time that this rate has broken the 7% threshold in 20 years, since April 2002.

Crunch ...

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Posted in Market Updates
Oct. 27, 2022

Mortgage rates reach their highest level in 20 years

Mortgage rates reach their highest level in 20 years

For the week ending Oct. 27, the average 30-year fixed mortgage rate shot up to 7.08%. According to Freddie Mac, this is the first time that this rate has broken the 7% threshold in 20 years, since April 2002.

Crunch ...

View More
Posted in Market Updates
Oct. 23, 2022

mortgage rates recently crossing the 6 percent threshold

Rising Interest Rates 

 

With mortgage rates recently crossing the 6 percent threshold, home sales cooling significantly, and fears of a recession looming across the national landscape, the housing market appears to be firmly in “correction” territory.

 

That’s a quick assessment of the real estate climate entering the fourth ...

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Posted in Market Updates
July 5, 2022

10 Things to Watch When Interest Rates Go Up

 

Prepare for rising rates.

The Federal Reserve raised interest rates by 0.75% on June 15 in the biggest increase since 1994. This was the third rate increase in 2022 and the most aggressive in the Fed's efforts to rein in soaring inflation. This means prospective homebuyers, homeowners ...

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