TODAY’S RATES & HOUSING NEWS
Mortgage rates have settled down after a huge swing upward on the week of 7/3 and a huge swing downward on the week of 7/10.
You can see that swing in the Mortgage Backed Security graph below and to the right.
The big news coming is the FED meeting and news conference next Tuesday and Wednesday.
My bet is they will still raise the Federal Funds Rate another 25 bps.
Here is a Forbes article detailing the data and upcoming decision:
https://www.forbes.com/advisor/investing/fed-meeting-preview/
Below is Green Home Loans rate sheet today.
We can go lower than these rates depending on how you want to structure costs.
Along with Mortgage News Daily average rate across the country.
REDFIN MARKET REPORT
The total number of homes for sale dropped 15% year over year, and the number of new listings dropped 30.6%, a record number only surpassed in April 2020 at the start of the COVID pandemic.
National months of supply is also at a record low of 1.8 months – only exceeded during the pandemic.
46.8% OF HOME OFFERS WRITTEN BY A REDFIN AGENT HAD MULTIPLE OFFERS
If you are bidding over asking price, we have a tool that will show your break-even point,
and wealth creation after likely appreciation. See below for example.
Click below for full REDFIN June 2022 Market Update:
