Good news! Rates are beginning to come down! We never know what the future holds but contact me today if I can be of assistance!
Tag: mortgage rates
Evan’s Summary of “The Lock-In Effect of Rising Mortgage Rates”
In this video I explain what the mortgage rate lockdown is and the current impact that it has on homeowners. With over 68% of homeowners sitting on interest rates that are 3%⬇ below the market value, you can imagine this has a huge effect on a homeowner’s decision to buy or sell . Watch to learn why!
Evan-omics: Inflation Trend Points to Lower Mortgage Rates!
Happy to share some good news! Watch this short video for the latest on inflation and why I think it will lead to lower mortgage rates in the months ahead.
Mortgage Rates Update: Fed’s Plans for Interest Rate Cuts in 2025
2024 Mortgage Rate Forecast….. Should I wait?
Will the US recession in 2024 affect home prices in Portland?
Will there be a recession in 2024? What does that mean for home prices in the Portland area? Watch this video to learn more!
Fitch Announcement!
How is the US credit rating announcement impacting mortgage rates?
Watch to learn more!
US Debt Limit’s impact on mortgage rates
A special video Rate Update
Given the extraordinary circumstances we are currently experiencing I have prepared a special video ‘rate update’ for today.
Please take 4 minutes to watch this special message below:
Current Outlook: Floating
Mortgage rates at all time lows. Might they go even lower?
Home Loan Rates
Mortgage rates are presently at all-time lows which were originally established in 2012 and again in 2016. Could home loan rates go even lower?
The Coronavirus
Although new cases of the Coronavirus are slowing in China the number of people infected in other countries is growing. Furthermore, there is fear that some countries are underreporting the true number of citizens infected with the virus.
Fear over the spread of the illness is now having a significant impact on financial markets around the globe.
Impact on Financial Markets
On Monday US & European stock markets fell by ~3% and today they are off over 1%. Japan’s stock market fell 3.3% on Monday.
When stocks decline it tends to drive capital into the bond market which pushes interest rates lower. The US 10-year treasury note is now trading at 1.322%, an all-time low) and the yield curve is now inverted.
An article published by Bloomberg reported that unless economic activity resumes 66% of small to medium sized businesses inside China are poised to run out of cash within two months.
Home Prices
According to the S&P CoreLogic Case-Shiller Home Price Index appreciation picked up nationwide at the end of 2019. The report showed that homes increased by 3.8% during 2019.
With interest rates hitting all-time lows I expect home price appreciation will remain healthy for the foreseeable future.
The week ahead
There is plenty of significant economic data being reported this week. Specifically, I will be paying attention to New Home Sales (Wednesday), Gross Domestic Product (Thursday), Pending Home Sales (Thursday), and Personal Income (Friday).
However, news regarding the Coronavirus is the primary driver of interest rates at this moment. If it appears that the illness continues to spread then I expect stocks to continue to falter and mortgage rates to improve further.
Current Outlook: Floating