Market Update: FOMC Meeting Summary for March 20th

2024-03-20T16:10:06-04:00March 20th, 2024|Categories: Market Update|Tags: |

As part of our commitment to keep you informed, we're providing a snapshot of the latest FOMC meeting and its implications for the mortgage market. With this ongoing series, you'll get timely insights after each meeting, helping you make informed decisions about your home financing needs. The Federal Reserve's latest announcement [...]

Deciphering Powell’s Economic Outlook for Mortgage Rates

2024-03-07T17:22:17-05:00March 6th, 2024|Categories: Market Update|

Federal Reserve Chair Jerome Powell recently addressed the U.S. economy's status, inflation, and interest rates. He acknowledged that interest rates had peaked and would likely decrease in the coming months, although he did not commit to rate cuts as soon as the Fed's March meeting. Powell highlighted the U.S. economy's strength, [...]

Navigating 2024 Housing – What Homebuyers Can Expect

2024-03-12T10:52:14-04:00January 2nd, 2024|Categories: Market Update|

The past year defied many expectations in the housing market, with significant shifts that caught many by surprise. As we look ahead to 2024, understanding these trends is crucial for anyone considering buying a home. Here's a breakdown of what happened in 2023 and what experts predict for 2024. A Look [...]

Fed Pauses Recent Hikes, Good News For Mortgage Rates

2024-03-07T16:40:17-05:00June 15th, 2023|Categories: Market Update|

The Federal Reserve decided to keep interest rates steady at its June meeting this week. This was the first time since March 2022 that the Fed has not raised rates. The move bodes well for the housing market and home buyers in search of rate stability or a potential signal for decline coming soon. The [...]

LLPA Fee Reversal Announced by FHFA

2024-03-07T16:40:17-05:00May 11th, 2023|Categories: Market Update|

Back in January, the FHFA (Federal Housing Finance Agency) shared news about a series of changes to LLPA (loan-level pricing adjustment) fees. These changes included a revamped LLPA matrix that differentiated pricing by loan purpose and a whopping 81 grids for purchase loans, limited cash-out refi loans, and cash-out refinance loans. The proposed move has [...]

Despite the rate volatility, mortgage demand is up this week

2024-03-07T16:40:17-05:00March 16th, 2023|Categories: Market Update|

The Mortgage Bankers Association's seasonally adjusted index reported a 6.5% increase in the total application volume for last week compared to the previous week. Although the rates were higher, there was a 7% increase in mortgage applications to purchase a home for the week, but it remained 38% lower than the same week in the [...]

2023 Housing Market Looking Stronger

2024-03-07T16:40:18-05:00February 17th, 2023|Categories: Market Update|

The 2023 housing market continues to look stronger with 65% more real estate listings in January compared to last year, according to Although home prices are still up year over year, they have lowered from the pandemic peak, making it a more reasonable time for homebuyers to jump into the market. Mortgage rates are [...]

2023 Forecast: Continued Optimism for Housing Market

2024-03-07T16:40:18-05:00January 18th, 2023|Categories: Market Update|

The housing market in 2023 continues to look better for home buyers who have been waiting to get back in the game due to the rate volatility last year. According to many experts, this could be the year of relief and opportunities for those looking to purchase a home. Gone are the days of fierce [...]

Sellers Offering Concessions Again…Buydowns Helping Buyers

2024-03-07T16:40:18-05:00January 11th, 2023|Categories: Market Update|

A recent Redfin report revealed exciting news for homebuyers: a record 41.9% of home sellers offered concessions in Q4 of 2022! This means that more and more sellers are offering incentives such as money for repairs and mortgage-rate buydowns to help buyers make the purchase. This is the highest increase in any three-month period since July [...]

Potential Opportunity in the Real Estate Market in 2023?

2024-03-07T16:40:18-05:00January 4th, 2023|Categories: Market Update|

Last year, the real estate market was so competitive that buyers had to pay above asking prices and negotiate hard to get favorable terms. Today's housing market is much more favorable for buyers, with more room for negotiation and discounts. This sets the stage for a great opportunity! Inflation is starting to ease, [...]

Go to Top