Tag Archive for: mortgage rates

Recession, Depression, Soft Landing, High Rates, Low Rates – Who Do We Believe?

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In late 2020, I was having lunch with several mortgage bankers who wanted to celebrate the success we were all having – as we were all enjoying unimaginable record profits. I, however, was not in a celebratory mood, telling them that rates would likely approach 8% in the coming years and that we needed to streamline and get much more efficient.Read More

Fannie Mae Is Making Strong Borrowers Subsidize Weak Borrowers

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The interest rates for many “strong borrowers” will now be anywhere from 1/8% to as much as 1/4% HIGHER than they otherwise would be – if Fannie and Freddie had not imposed these changes.Read More

Inventory Is STILL The Problem! Fascinating Data; Solutions Too; Rates Hit New Lows

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Active listings fell in March to only 563,000 nationwide, down from 578,000 in February. This would be close to an all-time record low, but for the last year’s even lower numbers. But, either way, the number is extremely low, not even close to the 4 million we saw in 2007, and, also surprising because we normally see active listings CLIMB in March.Read More

The 2nd Biggest Problem in Real Estate (& It Is HUGE)

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I frequently reference what I think is the biggest problem in real estate - hundreds of thousands, if not millions, of buyers sitting on the sidelines because the media are scaring the sh*t out of them with FALSE headlines about a pending real estate crash.Read More

Europe Raised Rates By 1/2%, and Rates FELL

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The European Central Bank (ECB) raised its short-term rate (its equivalent to the Fed Funds Rate that the Fed raises here in the U.S.) by a full 1/2% yesterday. It shocked many observers because Europe is facing a banking crisis that is potentially much worse than what we face here in the U.S. (for reasons I won’t go into for brevity’s sake).Read More

FHA Rates Even Lower! I Hope Buyers Stay Home :)

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Boomer Error! On Friday, I pointed out how FHA rates are now often far better (by over 1%) than Fannie Mae Rates in this blog: FHA Keeps Beating Fannie Mae! […]Read More

Rates Climbed 1% in February! Great Opportunity For Buyers!

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Why Is My Client’s Rate So High? That is a question we have heard from several agents over the last week. The primary reason is usually just a misunderstanding of […]Read More

MBA “Purchase Index” Falls to Lowest Level Since 1995! Panic Time?

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Rates have climbed almost a full 1% point since early February, as this Mortgage News Daily Chart indicates. In direct response to this increase in rates, purchase money mortgage applications […]Read More

GREAT NEWS! 10 Year Treasury Yields No Longer Track Mortgage Rates

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The 10 Year Treasury Yield is 3.46%, as I am typing this blog. The average 30-Year Mortgage Rate is 6.21%, per Mortgage News Daily. That is a spread of 2.75%. […]Read More

The Fed Does NOT Control Interest Rates! Follow the Data Guys!

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  The Fed raised “rates” last year at the fastest pace in history! There were 7 “rate” increases in total: 0.25% in March 0.50% in May 0.75% in June 0.75% […]Read More

Why Did Rates Shoot Up 3/8% Over the Last 10 Days?

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Dear Congress, Please stop spending money. I know it helps your careers… but it really hurts the rest of us. Sincerely, Jay That was the letter I wrote to Congress, […]Read More

Surge In Contracts, Pre-Approvals, And Returning Clients

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Rates fell again today, exactly like macro pundits Jeff Snider and Barry Habib have been predicting for about a year now. Once again – they both told us earlier this […]Read More

Inflation Slows & Rates Drop AGAIN; WHY SO IMPORTANT?

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Rates plummeted yesterday after Fed Chair Jerome Powell made some comments indicating that the Fed will start to slow its rate increases. Rumor has it that he got early notice […]Read More

THIS IS HUGE! Inflation & Rates PLUMMET!

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Inflation Came In Cool – Exactly As Barry Habib And Jeff Snider Predicted! In 2021, I told a group of mortgage bankers at a lunch how and why rates were […]Read More