Secret mortgage war: BNZ offers 4.99% one-year rate to new … – Stuff
Secret mortgage war: BNZ offers 4.99% one-year rate to new … Stuff
Secret mortgage war: BNZ offers 4.99% one-year rate to new … Stuff
While the Federal Reserve doesn’t directly dictate mortgage rates, the outlook for Fed rate hikes matters a great deal. In the days and weeks leading up to almost every Fed announcement in the past year, the market has had a very clear sense of how quickly the Fed would be hiking as well as the general levels at which it would likely be done hiking. That had been the case for the upcoming meeting as well. There really hadn’t been any doubt that the Fed would continue to hike by 0.25% increments. But several big ticket economic reports caused traders to rethink the outlook. In fact, even Fed Chair Powell admitted that no decision has been made yet and things could change after the jobs report and next week’s inflation data. That makes Friday’s jobs report incredibly important for rate momentum in the short term. The data will be released at 8:30am ET. If it’s much stronger than expected, mortgage rates will likely be moving quickly higher. If it misses forecasts, rates should fall. Either move would be tempered by anticipation for next week’s CPI (consumer price index… a key inflation report that could have just as much of an impact. As for today, rates started out modestly higher, but most lenders ended up offering mid-day improvements that brought the average rate slightly below yesterday’s.
Lead Analyst Logan Mohtashami explains we can still get a big jobs number while the unemployment rate increased.
A good jobs report is traditionally good for the stock market â but that’s not so now, when the strong labor market is leading to stock market sell-offs.
The 30-year fixed rate mortgage remained at its highest level since last November, increasing by 8 basis points from the prior week on the Federal Reserve’s aggressive posture on the economy, Freddie Mac said. Its Primary Mortgage Market Survey found the 30-year FRM at an average 6.73% for the seven days ended March 9, up … [Read more…]
Mortgage rates headed past 7% after Powell warns Congress on inflation Inman
Interest rates on home loans, which were already ticking upward, jumped last week, and itâs adding affordability challenges to the market.Â
(Bloomberg) — Bond traders boosted bets that the Federal Reserve may re-accelerate the pace of rate increases at the policy meeting later this month, after central bank head Jerome Powell said he’s ready for faster monetary tightening if economic data justifies it. Interest-rate swaps Tuesday showed a shift in bets for the March 22 meeting, … [Read more…]
Chair Jerome Powell said the Federal Reserve is likely to lift interest rates higher and potentially faster than previously anticipated with inflation persisting, an unexpectedly aggressive posture following last month’s step down in the pace of hikes. The remarks, coming in testimony before Congress on Tuesday, opened the door to officials lifting the Fed’s benchmark … [Read more…]
We share a discussion about how you can leverage inflation for your benefit while minimizing its negative effects on your finances.