Mortgage Rates Sharply Lower

The average mortgage lender is quoting a top tier 30yr fixed mortgage rate that is nearly a quarter of a percent lower than the same scenario last Friday.  Granted, big moves like this are more common after hitting multi-decade highs, but today's example has other motivations. Specifically, the

Rates Surge Toward 8% After Jobs Data; Can "Spreads" Help?

Rates were already high coming into this week. As of last Friday, that meant an average 30yr fixed rate just under 7.5%. As of this Friday, we're closer to 8%. Certain lenders may be quoting lower rates, but that often involves the presence of discount points.  The Freddie Mac survey (orange li

Another Calm, Slightly Better Day For Rates, But All Bets Are Off Tomorrow

For the first time in nearly a month, the bond market (which dictates day to day mortgage rate movement) managed to string together two winning days in a row.   Sure, the outright level of the average 30yr fixed is still the 3rd highest in 20+ years, but when things have gone as poorly as

It's still a good time to buy

Despite the recent fluctuations in the real estate market, now is still a good time for buyers to make their move. In the midst of higher interest rates, low inventory, and increased leverage with sellers, the market conditions are primed for a smart purchase. Firstly, let’s talk about interest rate