Real Estate News & Tips for Central Texas
Mortgage Rates Now Lowest in Nearly 2 Weeks
As the broader market continued rubbing its eyes in disbelief over the Fed's exceptionally calm attitude on inflation, bonds continued to improve today. Stronger bonds mean lower rates. The average mortgage lender was able to drop rates to the lowest levels in nearly 2 weeks--just a hair
Mortgage Rates Are Actually LOWER This Week
It's Thursday and thus time once again to check in with Freddie Mac's weekly mortgage rate survey versus reality. To be fair, it's not that Freddie isn't participating in reality. It's just not the same version of reality you might prefer if you are in need of more timely updates on rate
Fed "Held Rates Steady," But Mortgage Rates Improved
The rate market was intently focused on today's announcement from the Federal Reserve. While many news headlines emphasize the Fed "holding rates steady," but that's not what the bond market was focused on. Because mortgage rates are determined by the bond market, that meant they were fr
What Will The Fed Do To Mortgage Rates on Wednesday?
Mortgage rates were roughly unchanged on Tuesday, capping a short but meaningful losing streak over the past 6 business days. During that time, the average 30yr fixed rate move back into the low 7s and came close enough to the 2024 ceiling from 3 weeks ago. Impending events are set to either reinfor
Mortgage Rates Inch to March Highs
Rates marched higher to the highest levels in March today, but most lenders are only microscopically worse off than Friday afternoon. In the slightly bigger picture rates have moved up roughly a quarter of a percent in just over a week and that's a relatively quick move. The last time rates ro
On The Road To Rate Cuts, Markets Asking "Are We There Yet?" (Spoiler Alert: No)
Back in late 2023, we got in the car with the Federal Reserve with the promise of a trip to our favorite place: the land of lower interest rates. In 2024, we keep asking "are we there yet?" The more we ask, the farther we seem to be from the destination. This trip began with all the best intentions.
Mortgage Rates Back Above 7%
Even though Tuesday's consumer-oriented inflation report (CPI) had the biggest potential to cause drama for rates, it was today's wholesale inflation report that did the most damage. The Producer Price Index (PPI) showed wholesale inflation running hotter than expected by quite a wide margin overall
Mortgage Rates Move Higher For 3rd Straight Day
Mortgage rates are nowhere near their highs from a few short weeks ago, let alone the much higher highs from late 2023, but they are at the highest levels this week after rising for the past 3 days. Monday's increase was small, forgettable, and random. Tuesday's rates were driven higher by the
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