Mortgage rates can respond to changes in inflation, employment, Federal Reserve policy, Treasury yields, and expectations about future economic growth. These factors do not determine mortgage rates by themselves, but they can influence the broader bond market and the pricing lenders offer.
For homebuyers and homeowners, the important question is not simply whether economic news is “good” or “bad.” The key is how new information changes expectations for inflation, interest rates, and the economy. Those changes can contribute to mortgage rate movement and affect purchasing power, refinance opportunities, and monthly payment estimates.
Use the market updates below as supporting information, then consider your specific loan type, credit profile, property, and financing goals when evaluating current mortgage options.
Real Estate & Financial Market Updates
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The post How to Choose the Right Real Estate Agent in 10 Steps appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.
In the first two posts of this three-part series, we discussed private market participants that are active in repo markets for profit-making motives. Central banks are also active repo market participants, but their reasons often differ from those of private participants. In today’s post, we discuss how central banks use repos to manage liquidity in the financial system and implement monetary policy.
Fannie Mae and Freddie Mac now allow VantageScore 4.0 as an alternative to Classic FICO for eligible loans
With 860,000 public housing units remaining, Congress locks in RAD authorization and extends its reach as investment totals $28.4 billion
Court cites 35%-40% referral fees and claims of 60% audience share in denying Zillow’s motion to dismiss
Homes are expensive, the market is slow, and buyers are wary. But some cities favor sellers. Learn if you should sell your house now, or wait.
The post Should I Sell My House Now? appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.
Austin, Houston buyers gain choices as sellers cut prices
Big Intraday Round Trip For Bonds; Williams Helped
Bonds spent the first half of the day pressing into even weaker levels in spite of a respectable drop in oil prices. Data and headlines had little to no bearing on the selling. If anything, the biggest scapegoat is the combination of bearish momentum and quarter-end trading (something we’re extrapolating from the mirror-image correlation between stocks and bond yields). 10yr yields crested 5.29% at their weakest levels–right in line with the only obvious nearby technical level from 2007. Bearishness reversed at 2pm when Fed Gov Williams said he didn’t see a need for urgency after the September rate hike. Fed Funds Futures rallied quickly and the entire yield curve (apart from 30yr bonds) ended up making it back to positive territory by the close.
Econ Data / Events
Case Shiller Home Prices-20 y/y (Jul)
2.5% vs 2.2% f’cast, 2.1% prev
FHFA Home Price Index m/m (Jul)
0.3% vs 0.1% f’cast, 0% prev
CB Consumer Confidence (Sep)
81.9 vs 89.2 f’cast, 89.4 prev
USA JOLTS Job Openings (Aug)
7.079M vs 7.23M f’cast, 7.271M prev
Market Movement Recap
08:58 AM MBS up 2 ticks (.06) and 10yr down less than 1bp at 5.231
10:05 AM Heavy selling between 9:30am and 10am. Bouncing modestly after 10am data. MBS down over an eighth and 10yr up 1.1bps at 5.25
02:26 PM MBS down a quarter point, but well off the weakest levels after Williams’ comments implying no urgent need for additional rate hikes. 10yr still up 2.6bps at 4.267
Zillow reports that new homes in July sold at $205 per square foot, compared with $212 for existing homes
