A long-term view of rates If you took out a mortgage in the 1300s then it’s probably time to refinance. A new working paper from the Bank of England looks at a trend in global interest rates over the past eight centuries. The findings show that interest rates have been trending lower over the past […]
Happy New Year! I thought I would share what experts have predicted for the housing market in 2020. Watch this video to learn more! If you have questions please reach out. We would love to hear from you!
Home Loan Rates Mortgage rates are at the best levels in six weeks in response to a rise in geopolitical tensions between the US and Iran. Geopolitical tension Last week a top Iranian official was assassinated by a US airstrike. Iran has characterized the attack as an act of terrorism and has vowed a retaliation. […]
Home Loan Rates Mortgage rates are mostly unchanged to slightly worse compared to last week. The catalyst which pushed rates higher last week was an announcement pertaining to US-China trade relations. Phase One On Thursday, it was announced that the US and China had agreed to a “phase one” trade agreement. On the announcement the […]
Home Loan Rates Mortgage rates have worsened modestly from last week’s ‘rate update’. Jobs Report Last Friday’s all-important jobs report showed that the US economy added 266,000 new jobs in November. The national unemployment rate ticked down to 3.50%. The results were stronger than analysts had anticipated, which is bad news for interest rates. Here […]
Home Loan Rates Mortgage rates are at the best levels in over a month today thanks to weakness in the US stock market. Trade Tensions Escalate Speaking at a NATO summit President Trump commented earlier today that a trade deal with China may not come until after the 2020 election. Furthermore, he said he may […]
Home Loan Rates I recommended “floating” in last week’s ‘rate update’ and that paid off. Mortgage rates are about .125% lower today than they were a week ago. Trade Talks Interest rates have improved because optimism surrounding US-China trade talks have subsided. There have not been any new details regarding trade negotiations in the past […]
It’s counter-intuitive that when a person blushes, presumably because they are embarrassed, we tend to like them more. Do you know what else is counter-intuitive? Home Loan Rates & The Fed It can be confusing for consumers when the Fed cuts interest rates and mortgage rates go up. Since July the Fed has made three […]
Despite last week’s Fed rate cut mortgage rates have actually increased modestly this week. Remember, the Fed does not directly control long-term interest rates (including for home loans). Stocks/ US-China Trade Talks Optimism surrounding US-China trade relations is fueling the stock market and hurting mortgage rates. It was reported late yesterday that US & Chinese […]
Happy Birthday to Ken Galbraith who would have turned 111 today. The Canadian economist famously predicted in his 1958 book The Affluent Society that as society becomes more affluent private business would create additional consumer demand through marketing and consequently public goods (i.e. schools & parks) would be neglected. Seems to me like he was […]