08 Jan 2024
By 24hr Mortgage

What’s Ahead For Mortgage Rates This Week – January 8th, 2024

Financial Reports, ,
With the first FOMC minutes of the year, it sets the tone of the potential moves the Federal Reserve will make, with them remaining firm in their current stance of not employing any rate cuts, however given the more recent end of year reports, there is a likelihood that rate cuts will start this year. The last change in rates was in July of last year. The second most important report also being the final PMI (Manufacturing) numbers, which has largely met expectations without any irregularities. S&P Global US Manufacturing PMIManufacturing PMI was revised lower to 47.9 in December 2023…
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02 Jan 2024
By 24hr Mortgage

What’s Ahead For Mortgage Rates This Week – January 2nd, 2024

Financial Reports, ,
With the New Year, the final week only featured the normal reports of Jobless Claims, S&P Shiller Home Price Index (YoY), and the Chicago Business Barometer. All of them will have limited impact compared to the GDP and the Inflation data reports that have already been released. S&P Shiller Home Price Index (YoY)For the ninth consecutive month, home prices in prominent U.S. metropolitan regions have surged, reaching an all-time high. This increase is attributed to an ongoing shortage of available homes for sale. In October, the S&P CoreLogic Case-Shiller 20-city house-price index, after seasonal adjustments, showed a 0.6% rise compared…
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29 Dec 2023
By 24hr Mortgage

Mortgage Rate Locks: When and How to Secure the Best Rate

Mortgage Rates, ,
Rate locks play a crucial role in the mortgage application process, helping borrowers secure a favorable interest rate for their home loan. Here's an explanation of the importance of rate locks and when and how to secure the best rate: Interest Rate Protection: Mortgage rates are subject to market fluctuations and can change daily or even multiple times a day. Rate locks protect borrowers from potential rate increases during the loan processing period. Budgeting and Planning: Knowing the exact interest rate allows borrowers to budget more effectively and plan their finances with certainty. It prevents unexpected increases in monthly payments,…
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26 Dec 2023
By 24hr Mortgage

What’s Ahead For Mortgage Rates This Week – December 26, 2023

Financial Reports, ,
The final release of the GDP figures are the last large releases of the year before moving into Q1 of 2024, with the GDP report showing the economy had shown growth — particularly in Q3 with it tapering off by the end of the year. While the growth had been strong, it still was less than expected by analysts, however the final numbers do indicate we are on a track for a soft-landing and with the potential to all-together avoid a potential recession. The only other reports of note were the Personal Spending and PCE Index Prices. GDP 2023 (Final)The…
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18 Dec 2023
By 24hr Mortgage

What’s Ahead For Mortgage Rates This Week – December 18, 2023

Financial Reports, ,
With both CPI and PPI reports well within expectations, there is a favorable reception across the broader market spectrum that these reports are a strong sign that the Federal Reverse will begin rate cuts in 2024. A soft landing for the economy is the primary goal of the Federal Reserve, and it would seem their measures have had the intended impact with the Jobless claims seeing a recent new low and many of the primary economic signals pointing to a stable 2024. Consumer Price Index The numbers: The cost of living rose a scant 0.1% in November thanks to lower…
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18 Dec 2023
By 24hr Mortgage

What’s Ahead For Mortgage Rates This Week – December 18, 2023

Financial Reports, ,
With both CPI and PPI reports well within expectations, there is a favorable reception across the broader market spectrum that these reports are a strong sign that the Federal Reverse will begin rate cuts in 2024. A soft landing for the economy is the primary goal of the Federal Reserve, and it would seem their measures have had the intended impact with the Jobless claims seeing a recent new low and many of the primary economic signals pointing to a stable 2024. Consumer Price Index The numbers: The cost of living rose a scant 0.1% in November thanks to lower…
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