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Weekly Mortgage Market Commentary

Update: January 26, 2023

Mortgage rates held steady last week as confidence rose that the Fed will only raise rates by a quarter point at this week's meeting. The first estimate for the final quarter of 2022's GDP came in higher than expected at 2.9%. PCE Prices revealed that inflationary pressures continue to abate slowly.

Consumer Confidence, the ISM indexes, and monthly employment data are all due during a week featuring a Federal Reserve meeting. The most critical question that may be answered is whether the Fed believes its aggressive rate hikes have set the course for inflation to continue trending downward without more significant intervention. The market firmly believes that the answer is yes, and is expecting a quarter-point increase along with guidance that the Fed is done or only one more increase away from pausing. If the Fed raises rates by a half-point, then rates will likely move upward quickly. However, if the Fed only raises a quarter point, and its policy statement sounds move dovish, rates are likely to remain level or potentially even drift slightly downward.

Monthly Economic Commentary

Update: February 1, 2023

Mortgage rates held steady last week as confidence rose that the Fed will only raise rates by a quarter point at this week's meeting. The first estimate for the final quarter of 2022's GDP came in higher than expected at 2.9%. PCE Prices revealed that inflationary pressures continue to abate slowly.

Consumer Confidence, the ISM indexes, and monthly employment data are all due during a week featuring a Federal Reserve meeting. The most critical question that may be answered is whether the Fed believes its aggressive rate hikes have set the course for inflation to continue trending downward without more significant intervention. The market firmly believes that the answer is yes, and is expecting a quarter-point increase along with guidance that the Fed is done or only one more increase away from pausing. If the Fed raises rates by a half-point, then rates will likely move upward quickly. However, if the Fed only raises a quarter point, and its policy statement sounds move dovish, rates are likely to remain level or potentially even drift slightly downward.

Monthly Mortgage Market Commentary

Update: February 1, 2023

Mortgage rates held steady last week as confidence rose that the Fed will only raise rates by a quarter point at this week's meeting. The first estimate for the final quarter of 2022's GDP came in higher than expected at 2.9%. PCE Prices revealed that inflationary pressures continue to abate slowly.

Consumer Confidence, the ISM indexes, and monthly employment data are all due during a week featuring a Federal Reserve meeting. The most critical question that may be answered is whether the Fed believes its aggressive rate hikes have set the course for inflation to continue trending downward without more significant intervention. The market firmly believes that the answer is yes, and is expecting a quarter-point increase along with guidance that the Fed is done or only one more increase away from pausing. If the Fed raises rates by a half-point, then rates will likely move upward quickly. However, if the Fed only raises a quarter point, and its policy statement sounds move dovish, rates are likely to remain level or potentially even drift slightly downward.

Monthly Real Estate Commentary

Update: February 1, 2023

Mortgage rates held steady last week as confidence rose that the Fed will only raise rates by a quarter point at this week's meeting. The first estimate for the final quarter of 2022's GDP came in higher than expected at 2.9%. PCE Prices revealed that inflationary pressures continue to abate slowly.

Consumer Confidence, the ISM indexes, and monthly employment data are all due during a week featuring a Federal Reserve meeting. The most critical question that may be answered is whether the Fed believes its aggressive rate hikes have set the course for inflation to continue trending downward without more significant intervention. The market firmly believes that the answer is yes, and is expecting a quarter-point increase along with guidance that the Fed is done or only one more increase away from pausing. If the Fed raises rates by a half-point, then rates will likely move upward quickly. However, if the Fed only raises a quarter point, and its policy statement sounds move dovish, rates are likely to remain level or potentially even drift slightly downward.