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Is The Housing Market Finally Bouncing Back?

There are those who always try to portray the glass as being half full when it comes to the housing market. Then there are those who love a full glass, but who also call it like they see it. Right now, each camp has something to agree on: the glass is more full than it…
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Rates May be Falling, But Other Mortgage Costs Are Going Up

Mortgage rates have fallen quite a bit since hitting a long term peak in late October. By the middle of this week, the average 30yr fixed rate was more than 1.25% lower from the highs and at the best levels in more than 4 months. Rates have fallen due to improvement in the bond market,…
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Lowest Rates in 4 Months, So Why Does Fed Say They’re Going Higher?

Mortgage rates officially hit their lowest levels in 4 months after this week’s inflation data. Despite the recent progress, Fed officials continue to talk about keeping rates high “for as long as possible.” Who’s telling the truth? First off, we know that mortgage rates are at 4 month lows because that assertion relies on the…
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Markets Call The Fed’s Bluff After Downbeat Data

The Federal Reserve (aka “The Fed”) has a parrot problem, and it’s on a crash course with economic reality… maybe. The Fed sets policies that impact interest rates in an attempt to keep inflation in check without crippling the economy.  After arguably leaving rate-friendly policies intact too long in 2021, they scrambled to put the…
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2022 Was Rough For Rates and Housing, But 2023 is a Blank Canvas

So long 2022!  Don’t let the door hit you.  You were the worst year for mortgage rates that most of us have seen in our lifetimes in terms of the pace of the rate spike.  Sure, our friends who have more “life experience” are happy to remind us about their double digit mortgage rates in…
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Mixed Signals in Housing Data and Small-Scale Volatility in Rates

The last two weeks of December are unlike almost any time of year in terms of market movement and what we should read into it, but there were several housing-related reports that are worth considering as we head into the new year. The National Association of Homebuilders (NAHB) published its builder confidence numbers on Monday. …
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Best Winning Streak For Rates in 2 Years

It was a critical week for financial markets and especially for rates as investors digested the latest inflation data and the Fed’s smaller rate hike.  In fact, the latest inflation data could be thought of as the most important and most persistent focus for rates all year long. When it comes to measuring inflation, there…
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Extremely Risky Week Coming Up For Better or Worse

Tuesday December 13th is the day many people have been waiting for ever since Thursday November 10th. What do those two days have in common? They each mark the monthly release of the Consumer Price Index, the official inflation data responsible for some of 2022’s wildest trading days. Wild trading days aren’t just for traders. …
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$726,200 is The New Loan Limit for 2023; High Cost Counties Now Over $1m

If you’re just here for the conforming loan limit news, $726,200 is the number for 2023. Does this mean no one can get a mortgage for more than $726,200?  No.  The conforming loan limit is the maximum amount that can be guaranteed by Fannie Mae and Freddie Mac (the government-sponsored enterprises or GSEs).  That guarantee…
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Rates Dream of Green Christmas With Help From The Fed

As far as financial markets are concerned, a green Christmas is better than anything Bing Crosby could have crooned about. Green is the color that flashes when markets are improving or when interest rates are falling. Green, for lack of a better word, is good. For mortgage rates, it’s been an especially difficult year.  They’ve…
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