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Market Comment Mortgage bond prices finished the week lower which put upward pressure on rates. Trading went back and forth but ended on a sour note in response to higher-than-expected inflation readings and some surprises from Fed officials. The Fed minutes indicated, “A few participants stated that they favored raising the target range for the … Continue reading MIG Market Watch, February 27th, 2023
Market Comment Mortgage bond prices finished the week sharply lower which put upward pressure on rates. Rates worsened throughout most of the week as inflation fears continued. Higher than expected inflation readings resulted in MBS selling pressure. Consumer prices rose 0.5% as expected. The core rose 0.4% as expected. Year over year CPI rose 6.4% … Continue reading MIG Market Watch, February 20th, 2023
Hopeful homebuyers typically have lots of questions about the process, many related to their credit report. Let’s look at the most common questions we hear about credit reports and credit scores. Why do I have three credit scores? There are three credit bureaus: Equifax, TransUnion and Experian. They are competitors, so they don’t share information. … Continue reading FAQs Regarding Your Credit Report
Market Comment Mortgage bond prices finished the week sharply lower which put upward pressure on rates. Rates worsened throughout most of the week as inflation fears continued. We started negative in carryover from the strong employment report the prior week. Fed Chair Powell spoke Tuesday which calmed things temporarily. However, Fed official Waller indicated that … Continue reading MIG Market Watch, February 13th, 2023
Market Comment Mortgage bond prices finished the week slightly positive which helped rates push a little lower. Rates improved throughout most of the week but lost a considerable portion of the gains Friday morning in response to stronger than expected data. Unemployment was 3.4% vs 3.6%. Non-farm payrolls rose 517K vs 190K. Average hourly earnings … Continue reading MIG Market Watch, February 6th, 2023
Market Comment Mortgage bond prices finished the week near unchanged which held rates flat. However, considerably volatility continued throughout the week. Rates worsened Monday and Tuesday, bounced back Wednesday and Thursday morning, and lost ground Thursday afternoon and Friday morning. The data was generally solid with very little price pressures. Leading economic indicators fell 1% … Continue reading MIG Market Watch, January 30th, 2023
Black History Month is an incredibly beautiful time to reflect on the contributions of Black Americans and explore the Black American experience. There are books, articles, and documentaries filled with information about Black contributions to music, politics, history, rebellion, and other expressions of joy. Through progress, we hope to add more justice, humanity, creation, and … Continue reading Black History Month – Looking at the Generational Wealth Gap and Homeownership
Market Comment Mortgage bond prices finished the week near unchanged which held rates flat. However, there was considerable volatility throughout the week. Rates worsened Monday morning, bounced back Tuesday, and finished the week trading back and forth. The data was generally solid with very little price pressures. NAHB housing was 35 vs 31. Industrial production … Continue reading MIG Market Watch, January 23rd, 2023
Market Comment Mortgage bond prices finished the week higher which helped rates improve. There were very few economic releases but considerable volatility. Rates improved to start the week, quickly reversed course Tuesday, bounced back Thursday afternoon, and sold off again Friday morning. Inflation data was lower than expected. Consumer prices fell 0.1% vs the expected … Continue reading MIG Market Watch, January16th, 2023
Market Comment Mortgage bond prices finished the week near unchanged which held rates flat despite significant volatility throughout. Rates improved to start the week but quickly reversed course in response to stronger than expected data and continued oil price fluctuations. There are strong concerns that China’s demand will decrease as their production is impacted by … Continue reading MIG Market Watch, January 9th, 2023
Over the past few years, the millennial generation has been jumping into homeownership with both feet, many as first-time buyers. Millennials, born between 1981 and 1996, are now officially the largest segment of homebuyers. If you’re a millennial who’s thinking about buying a house, congratulations! Homeownership is a great financial investment. However, the homebuyer’s journey … Continue reading Homebuying Tips for Millennials
California, Texas, and Florida are humongous states by land mass and sheer population. Florida has 22 million residents, Texas has 29 million, and California holds 12% of the US population with 39 million residents! But do you know what else is equally astounding? The US poverty rate. The census reports that the official poverty rate … Continue reading January is National Poverty in America Awareness Month
