By the end of last week, there was a shred of hope that the worst might be over for 2022’s massive rate spike. By Tuesday of this week, however, that hope was shredded.
Source: Kevin Litwicki MBSLIVE
Why Mortgage Rates Jumped Back Over 5% This Week
When Will Prices Care About Rising Rates? And Are Rates Done Rising?
Home prices have been on a tear since late 2020 despite generally higher rates in 2021. In the past few months, rates have upped the ante by surging at one of the fastest paces in history, but in data just released this week, home prices are moving higher at an even faster pace. What’s up with that?
Source: Kevin Litwicki MBSLIVE
When Will Prices Care About Rising Rates? And Are Rates Done Rising?
Why Are Mortgage Rates Skyrocketing Toward 5%
While weeks in 2022 have been terrible for mortgage rates, we’ve always been able to say “at least it wasn’t as bad as that one week in 2013.” We can’t really say that anymore.
Source: Kevin Litwicki MBSLIVE
Why Are Mortgage Rates Skyrocketing Toward 5%
Highest Mortgage Rates in 3 Years After Fed Hikes, But Is There a Connection?
Mortgage rates are based on movement in the bond market, and as of the middle of this week, bonds had lost a good amount of ground every day for 8 straight days. With that, the average 30yr fixed rate officially hit its highest level in 3 years. That happened on the same day that the Federal Reserve hiked rates for the first time since 2018, but is there a connection?
Source: Kevin Litwicki MBSLIVE
Highest Mortgage Rates in 3 Years After Fed Hikes, But Is There a Connection?
Highest Rates In Nearly 3 Years Ahead of Next Week's Fed Hike
The Fed will hike it’s key policy rate for the first time since 2018 next week, but mortgage rates aren’t waiting to move higher.
Source: Kevin Litwicki MBSLIVE
Highest Rates In Nearly 3 Years Ahead of Next Week's Fed Hike
Staggeringly Big Rate Swings as Markets Remain Focused on Ukraine
Financial markets were already dealing with rapidly evolving Fed policy shifts, a big jump in rates, and a big drop in stocks. But after Russia invaded Ukraine, volatility has been on another level.
Source: Kevin Litwicki MBSLIVE
Staggeringly Big Rate Swings as Markets Remain Focused on Ukraine
Multi-Year Rate Highs Showing Little Concern For Geopolitical Risk
Apparently a bit of concern over the potential for global nuclear war is not enough for mortgage rates to recover very much.
Source: Kevin Litwicki MBSLIVE
Multi-Year Rate Highs Showing Little Concern For Geopolitical Risk
Mortgage Rates Having Tough Time, But Housing Metrics Are Still Strong
With things still up in the air in terms of geopolitical risk, markets are seeking safer havens in general so far today. Most recently, this is affecting stocks a bit more than bonds.
Source: Kevin Litwicki MBSLIVE
Mortgage Rates Having Tough Time, But Housing Metrics Are Still Strong
Highest Inflation Since The 80s; Highest Rates Since 2019; Huge Volatility on Friday
There were 3 distinct parts to this week. One was boring. One was very bad for rates, and one undid almost all the damage.
Source: Kevin Litwicki MBSLIVE
Highest Inflation Since The 80s; Highest Rates Since 2019; Huge Volatility on Friday
Mortgage Rates Leap Toward 4.0% After Jobs Report Shocker
Friday’s jobs report wasn’t supposed to matter much for rates, but it did… massively.
Source: Kevin Litwicki MBSLIVE
Mortgage Rates Leap Toward 4.0% After Jobs Report Shocker