Quick Market update and Graphs from our friends at MortgageNewsDaily. Rates are holding at around 5% on conventional 30 year. We gained a little (almost 100 bps in the 4% coupon) this week and expectation is that we will hold here (don’t hold me to this please this is what the talking heads say). Barring of course anymore negative Fed Chair commentary. Graph one represents a 5 year look back. Rates are at 2019 level. Remember. Most of the drop in rates in 20-21 can be attributed to The Fed superficially manipulating rates through Quantitative Easy by purchasing Billions in MBS coupons to try and curb the economic affects of the Covid Pandemic. Snapshot 2 is the current National Average on Mortgage Rates. This is comprised of stats from Mortgage Bankers Assoc. FHMLC (Freddie Mac) and Mortgage News Daily surveys. The last screenshot is what the MBS 4.0 Coupon did in last week. The outlook from every market real estate stat we’ve seen shows our inventory is still horribly low and prices continue to rise due to this shortage. So the time to buy is NOW! Please feel free to reach out with any questions! Damian MyMorgo 512 970 8205

Posted by Damian Squires at 2022-04-08 18:09:19 UTC