Mortgage Rates Volatile, Roiled by Geo-Political Events
Markets were extremely volatile last week, roiled by geo-political events, economic data and concerns over the health of Credit Suisse, a large bank.
Mortgage Rates Volatile, Roiled by Geo-Political Events
Markets were extremely volatile last week, roiled by geo-political events, economic data and concerns over the health of Credit Suisse, a large bank.
Expert Panel: Expect a Buyers Market by 2023
Sky-high mortgage costs are driving down competition among home shoppers, and a market firmly in favor of buyers is expected next year, according to a majority of economists and housing experts polled in the latest Zillow Home Price Expectations Survey (ZHPE). The expert, independent panel also expects rent growth to outpace inflation during the next 12 months, as priced-out potential home buyers exert additional pressure on the rental market.
Mortgage Rates Move Higher, Have Doubled This Year
Markets reacted to the Federal Reserve increasing the target Fed Funds rate by 75 basis points last week and increasing their projections of future rate levels in 2023. Fed Chair Powell’s comments last week noted a need for restrictive monetary policy in the future with a focus on containing inflation, driving investors to raise their expectations for future interest rates.
Mortgage Rates Move Up on CPI Data Release
While interest rates continue to be volatile as markets adjust expectations for Fed rate hikes, mortgage rates ended the week basically unchanged at about 6% for a 30-year fixed rate loan. Economic data and comments from Fed officials last week point to the Federal Reserve continuing to raise the Fed Funds rate until inflation is under control.
Zillow Home Value and Sales Forecast: September 2022
Zillow expects home value growth to slow considerably over the next year, from the current rate of 14.1% annual growth to 1.4% growth over the coming year. This is a downward revision from August’s year-ahead forecast of 2.4% home value growth.
Lack of affordability drives further price declines as rebalancing continues
Mortgage Rates Stay Flat as Inflation Persists
While interest rates continue to be volatile as markets adjust expectations for Fed rate hikes, mortgage rates ended the week basically unchanged at about 6% for a 30-year fixed rate loan. Economic data and comments from Fed officials last week point to the Federal Reserve continuing to raise the Fed Funds rate until inflation is under control.
Mortgage Rates Move Higher as Fed Commits to Containing Inflation
Fed Chair Powell noted late in the prior week that the Fed is committed to containing inflation, which will likely result in some economic pain. While data is pointing to easing pressure on prices in several sectors, the level of economic activity appears to give the Fed more runway to raise rates before triggering recession risk.
Mortgage Rates Rise on Robust Economic Activity
Mortgage rates moved higher again last week. Fed Chair Powell noted late in the prior week that the Fed is committed to containing inflation, which will likely result in some economic pain.
Mortgage Rates Increase on Stronger Economic Data Than Anticipated
Mortgage rates increased last week. Economic data releases showed stronger economic activity than markets anticipated; continued tight labor markets, resilient consumer spending and strong manufacturing activity. Fed officials continue to message to investors that they are committed to getting inflation under control.
