Mortgage Rates Decline Despite High Inflation Indicators
Mortgage rates declined last week, even with very high inflation indicators. In economic data released last week, both consumer and producer prices showed higher than anticipated increases. But investors continue to price in a potential recession in 2023, which may force the Federal Reserve to begin lowering the federal funds target sometime next year.
Zillow Home Value and Sales Forecast: July 2022
Zillow’s housing market outlook has been revised down from June. Zillow forecasts 7.8% home value growth over the next 12 months (July 2022-June 2023).
Dr. Skylar Olsen Returns as Zillow Chief Economist
Dr. Skylar Olsen Returns as Zillow Chief Economist.
Mortgage Rates Move Up on Strong Economic Data
Mortgage rates reversed their recent trend, moving up last week. Economic data releases last week were stronger than expected for both job growth and demand for services.
Mortgage Rates Drop as Investors Eye Potential Recession
Mortgage rates declined for the second week in a row. Investors are pricing in more risk of economic slowdown and a potential recession, which may slow the pace of future interest rate hikes at the Federal Reserve.
Mortgage Rates Drop Back Below 6.00%
Mortgage rates declined last week, dropping back below 6.00. Both equity and fixed income markets were up during the week, with light economic data releases.
Impacts of Rising Mortgage Rates: A Conversation With Senior Economist Matthew Speakman
Matthew Speakman is a senior economist at Zillow. He shared his thoughts about what is driving the recent spike in mortgage rates, how that will impact the broader housing market, and where the market will go from here.
Mortgage Rates Continue Past 6.00%
On the heels of a much higher than expected increase in consumer prices the week prior, The Federal Reserve took strong action and increased their target for the Fed Funds Rate by 0.75%.
Mortgage Rates Shoot Higher on Inflation Report
Rates were gradually increasing throughout the week, then shot higher on Friday with the Consumer Price Index release. The CPI report showed increasing inflation in May, rising from 8.3% in April to 8.6%, higher than market expectations.
In Q1, homeowners sold 12,652 homes using an iBuying service. iBuyer market share was 1.3%.
