TODAY’S INTEREST RATES
Interest rates continued to move higher this week.
Average 30 year fixed conventional rates across the country are moving towards the high 6%’s depending on credit and cost considerations.
Some FED members are in favor of a 50 bps Federal Funds Rate hike at their next meeting in March, even after the FED telegraphed a likely 25 bps hike moving forward.
It’s a very volatile time for interest rates with inflation numbers not coming in as low as expected and a better jobs report than expected.
MBS highway expects slower jobs growth on the March 10th report and better inflation numbers on the March CPI report.
This will hopefully bring back some of the recent interest rate improvements the market has gotten used to.
VA FUNDING FEE DROPS
The VA Funding Fee is being reduced for closings after 4/7/2023.
VA Funding Fees for less than 5% down payment are going down from 2.3% to 2.15%.
Subsequent use for less than 5% down payment is going down from 3.6% to 3.3%.
This is great news for Veterans!
FINANCIAL ADVISOR CLASS
Here is the recording of Matt Lipscomb’s class if you missed it.