Mortgage Rates Hold Steady


Mortgage interest rates are very close to the same levels as last week.   

With all the volatile events in June, interest rate volatility has actually been quite boring.

See Mortgage Backed Security (MBS) chart below and how the trading has been in a fixed range on the right, compared to much more volatility in May and April. 

Below is Green Home Loans rate sheet today.

Along with Mortgage News Daily average rate across the country.


New housing inventory (homes coming on the market) is down 22.7% from 1 year ago.    

Homes are sitting on the market a bit longer right now so active listings are higher, but home listings coming on the market are substantially lower. Although demand for buying a home is down, low supply has helped stabilize home prices.

What’s the Cost of Waiting to Buy a Home?


The FED finally paused their hikes on interest rates on Wednesday. 

While there is not a rise in the Federal Funds rate this time, it appears likely that there will be 2 more increases in 2023. 

The FED releases a dot plot where the members feel that the Federal Funds rate should be.

Currently, the Federal Funds rate sits at about 5.08% and most dots fell in the 5.6% range for 2023. 

This article by Mortgage News Daily does a good job explaining The Federal Funds rate and the current interest rate market:

After 2 huge reports – The CPI Inflation Report and the FED statement, interest rates have settled almost exactly where they were a week ago.

This is surprising to me as I thought we would get more rate improvement with inflation dropping to 4%. 

Below are current average interest rates across the country per Mortgage News Daily:

And below is Green Home Loans Rate Sheet.


After all the doom and gloom about the housing market, the housing market appreciated 5-6% in 2022 and is on track for the same in 2023. 

MBS Highway has a great tool called the Cost of Waiting.

Many consumers are waiting for interest rates to go down before they buy a home.

With the Cost of Waiting tool, we can compare buying now vs. buying in the future with a lower rate.

See example below of

  1. Purchasing a home with a 6.5% rate with today’s housing value
  2. Waiting 6 months and getting a 5.5% rate with a housing value that is 2.06% higher (4.12% conservative yearly appreciation)
  3. Waiting 12 months and getting a 5.5% rate with housing value that is 2.95% higher (2.95% conservative yearly appreciation)

By waiting 6 months, the buyer is losing $20,580 in home appreciation. 

After factoring in amortization, lower payments, and the cost to refinance down to a 5.5% – the consumer is losing $19,452 by waiting 6 months.

And losing $30,879 by waiting 12 months.

As long as homes continue to appreciate which they are expected to do, it will almost always make more financial sense to buy now and refi later if rates drop.


Inflation Drops to 4%, Will Rates Follow…


Mortgage rates had an up and down week over the past 7 days.

Current interest rates are very similar to last week.

Below are average interest rates across the country according to Mortgage News Daily.

And below is Green Home Loans Rate Sheet.

Notice that we are significantly lower than the national averages. 

We are writing this report as of the morning of 6/13 and there are 2 important reports on the horizon.

The CPI inflation report is coming out as we are writing this update.

The expectation was the headline inflation number will drop from 4.9% to 4.2%.

And Core Inflation to drop from 5.5% to 5.3%.

JUST IN:  Inflation dropped to 4% and Core Inflation dropped to 5.3%.

This is a large drop, and we expect interest rates to drop because of it.

Interest rates follow inflation, and we expect the inflation numbers to continue to come down.

The inflation number is made by adding 12 months of monthly numbers to get a yearly inflation number.

Inflation was very high last Summer so the high numbers will be replaced by much lower numbers this year.

This is why we are so certain that inflation will come down. 

The FED also starts their meetings, which culminates in a press release and news conference, on Wednesday.

Most are expecting the FED to “skip” raising the Federal Funds rate this time to analyze more data before their July meeting. 

Below is a good article on the FED move and what they are looking at in their decision making:


Here is the recording of Keeping Current Matter’s June Monthly Market Report:

If you would like full access to video and slides – please email Kalee Taylor @

Here are my favorite slides:

Below is KCM’s Summer buyer and seller guides.

Click link to view full guide and if you are an agent, please contact Kalee Taylor if you would like us to customize a guide with your picture and contact information:

Mortgage Rates Drop Before Jobs Report and Then…


Mortgage rates had a great week until the jobs numbers starting to come in on Thursday culminating with the BLS Jobs Report on Friday.

There were 339,000 jobs created in May 2023, compared to an estimated 190,000 jobs. 

The jobs number blew the estimates out of the water.

On top of that, April was revised higher 41,000 jobs and March was revised higher 52,000 jobs.

Unfortunately, these reports are what the FED uses to justify their monetary policy.

If job creation is high, they can continue to raise the Federal Funds Rate.

The good news is that rates improved so much before Thursday and Friday that the average rate across the country is close to .25% lower – from 7.14% to 6.9%.

Below are average rates across the country today.

Coming next week, we have the Fed meeting and announcement.  Many are still predicting a skip in raising the Federal Funds rate even with the high job numbers.  We also have the CPI Inflation report next week.  It will likely be a volatile week for rates.


Arizona announced last week that it’s limiting construction on homes that require ground water.

Developers believe they could still build with these limitations.

See article below:


Per the Case Shiller Home Price Index, Home prices rose .4% in March 2023.

Year over year home appreciation is at .6%.

Eventually the Year over Year index will show negative as today’s numbers will get compared to the peak in the market in May / June of 2022. 

Home prices have only declined 2.3% since the peak.

After all the ups and downs, home prices will likely appreciate about 5-6% in 2023.