It’s been a good week for extremes in the housing market with rates at 3 month lows, pending home sales at “record” lows, and conforming loan limits up to record highs. Here’s why at least two of those three things aren’t very interesting.
Source: Kevin Litwicki MBSLIVE
What New Loan Limits Mean; Should We Worry About "Worst Ever" Pending Home Sales?
Housing Market Thankful For Lower Rates But The True Test is in Early December
Mortgage rates have fallen significantly in November. For the housing market, it couldn’t come at a more critical time, but the road ahead remains uncertain–mostly due to timing.
Source: Kevin Litwicki MBSLIVE
Housing Market Thankful For Lower Rates But The True Test is in Early December
Cooler Inflation Prompts Big Shift in Rate Outlook
The market was incredibly anxious to see the release of the Consumer Price Index (CPI) this week. Many times, that sort of anxiety proves overdone and reality ends up being less volatile. This was not one of those times.
Source: Kevin Litwicki MBSLIVE
Cooler Inflation Prompts Big Shift in Rate Outlook
Everything's Relative, And Rates Had a Relatively Good Week
While it’s possible to accuse mortgage rates of experiencing volatility over the past few days, this week was exceptionally calm compared to last week.
Source: Kevin Litwicki MBSLIVE
Everything's Relative, And Rates Had a Relatively Good Week
Tremendous Week For Interest Rates And Possibly Even For The Rate Outlook
The average top tier 30yr fixed mortgage rate was at 23 year highs as recently as October 19th. It wasn’t much lower by the start of present week. What a difference a few days make, especially the last 3 which resulted in a massive 0.50% drop!
Source: Kevin Litwicki MBSLIVE
Tremendous Week For Interest Rates And Possibly Even For The Rate Outlook
Lots at Stake For Rates Next Week; Which Housing Report is Telling You The Truth?
This past week brought the release of two housing reports that track the pace of home sales each month and they told distinctly different stories. Which one is telling the truth?
Source: Kevin Litwicki MBSLIVE
Lots at Stake For Rates Next Week; Which Housing Report is Telling You The Truth?
Doom, Gloom, Kool Aid, And Warm Porridge
Mortgage rates finally broke the 8% ceiling this week after months of gradual upward movement in the 7% range. At the same time, Existing Home Sales fell to the lowest levels in more than a decade. Pretty gloomy, but there are silver linings and perhaps even some overly optimistic Kool Aid to drink. As always, we’ll try to focus on the warm bowl of porridge in the middle.
Source: Kevin Litwicki MBSLIVE
Doom, Gloom, Kool Aid, And Warm Porridge
Rates Reacting to War and The Fed, But Maybe Not For Long
After hitting the highest levels in decades last week, mortgage rates dropped sharply at the beginning of this week. At first glance, this was a classic flight to safety following the outbreak of the Israel-Hamas Conflict, but at the same time, markets were possibly just as interested in a change in tone from the Fed.
Source: Kevin Litwicki MBSLIVE
Rates Reacting to War and The Fed, But Maybe Not For Long
Rates Surge Toward 8% After Jobs Data; Can "Spreads" Help?
Rates were already high coming into this week. As of last Friday, that meant an average 30yr fixed rate just under 7.5%. As of this Friday, we’re closer to 8%.
Source: Kevin Litwicki MBSLIVE
Rates Surge Toward 8% After Jobs Data; Can "Spreads" Help?
How Will The Government Shutdown Affect The Mortgage and Housing Markets?
It’s nearly impossible to consume any news these days without coming across the government shutdown. As always, we’re not interested in the politics of the matter–just the question of whether or not the housing and mortgage market should care.
Source: Kevin Litwicki MBSLIVE
How Will The Government Shutdown Affect The Mortgage and Housing Markets?