This week’s economic data, including existing home sales, jobless claims, GDP growth, and the PCE inflation report, may influence mortgage rates that are hovering around 7%. Higher inflation or strong economic indicators could lead to sustained or increased rates, prompting buyers to consider locking in rates early.
Category: Mortgage Rates
Week Ahead: Economic Factors Driving Up Mortgage Rates
Mortgage rates are facing upward pressure as the bond market reacts to a resilient U.S. economy. Last week’s employment report showed better-than-expected job gains, pushing the 10-year Treasury yield near 5%. Rising energy prices are also adding to inflationary pressures, making it less likely for the Federal Reserve to ease interest rates soon. This week,…
Chicago Housing Market Predictions for 2025
As we approach 2025, the Chicago housing market is expected to remain competitive but with some key shifts that both buyers and sellers should keep in mind. In summary, while Chicago’s housing market will continue to present challenges in 2025, particularly in terms of affordability and inventory, buyers can expect more favorable conditions compared to…
Home Builder Sentiment (December 2023)
Home builder confidence rebounded after falling for four straight months, as falling mortgage rates brought more buyers back to the market. Plus, many builders (36%) are still cutting prices to boost sales. The NAHB noted that “recent economic data signal improving housing conditions heading into 2024.”
Unlocking the Week Ahead: A Glimpse into Mortgage Rates and Economic Data (December 4, 2023)
As we step into the first week of December 2023, the financial landscape is buzzing with anticipation. For mortgage professionals and homebuyers, understanding the upcoming trends in mortgage rates and economic data is crucial. Here’s a brief preview of what lies ahead:
Understanding the Distinction Between Mortgage Interest Rates and APR
This article aims to shed light on the dissimilarities between the mortgage interest rate and the APR, helping borrowers navigate the mortgage landscape more confidently.
FICO Scores and Your Mortgage: How to Bump Your FICO Score to Secure a Better Mortgage Rate
Is your credit score holding you back from getting the best rate on your next mortgage? Here are a few easy and effective tips to help you get your credit score to where you want it to be.
3 Reasons Why the Lowest Mortgage Interest Rate Isn’t Always Your Best Option
One of the more common methods that home loan applicants use to find the best loan program available is to compare interest rates, but choosing the lowest rate possible is not always the best option available. In fact, in some cases, it may be one of the least advantageous options when all factors are considered.
Variable-Rate VS. Fixed-Rate Mortgages – Which Is Better For Your Financial Situation?
If you are thinking about applying for a mortgage, it is important that you consider all of the options carefully and that you understand the key differences between them. Let’s compare variable-rate and fixed-rate mortgages to see which might be the best in your situation.
Understanding The Key Factors That Affect Your Mortgage Interest Rate
When you initially start shopping for a home mortgage, you may be drawn to advertisements for ultra-low interest rates. However, the unfortunate truth is that all too often, mortgage applicants are unpleasantly surprised and even disheartened to learn that they do not qualify for the advertised interest rate.
Emma Butler Group- Mortgage Tips & Community 