12/13/2022
Please read the latest update:
๐ก ๐๐ผ๐ฟ ๐๐ต๐ฒ ๐๐ฒ๐ฒ๐ธ ๐ผ๐ณ ๐๐ฒ๐ฐ๐ฒ๐บ๐ฏ๐ฒ๐ฟ ๐ญ๐ฎ, ๐ฎ๐ฌ๐ฎ๐ฎ
๐ฅ๐ฒ๐ฐ๐ฎ๐ฝ ๐ผ๐ณ ๐น๐ฎ๐๐ ๐๐ฒ๐ฒ๐ธ: ๐ฅ๐ฎ๐๐ฒ๐ ๐๐ป๐ฐ๐ต๐ฎ๐ป๐ด๐ฒ๐ฑ ๐
Average mortgage rates didn't move much over the last week, although they did move a bit from day-to-day to end the week basically unchanged.
๐ ๐ผ๐ฟ๐๐ด๐ฎ๐ด๐ฒ ๐ฅ๐ฎ๐๐ฒ ๐๐ผ๐ฟ๐ฒ๐ฐ๐ฎ๐๐: ๐ฅ๐ฎ๐๐ฒ๐ ๐ฐ๐ผ๐๐น๐ฑ ๐ฏ๐ฒ ๐๐ผ๐น๐ฎ๐๐ถ๐น๐ฒ โ ๏ธ
Rates could make big moves this week as we get two major events - consumer inflation data and the Fed meeting and press conference. Rates could improve or get worse, depending on how the data comes out as well as how markets react. It's a good week to stay in touch with your mortgage professional and discuss locking if concerned.
๐๏ธ ๐ช๐ต๐ฎ๐'๐ ๐ฎ๐ณ๐ณ๐ฒ๐ฐ๐๐ถ๐ป๐ด ๐ฟ๐ฎ๐๐ฒ๐ ๐๐ต๐ถ๐ ๐๐ฒ๐ฒ๐ธ:
- Economic data: Tuesday morning before rates are set, November's CPI consumer inflation data comes out. October's report came in better than expected, helping rates fall from the 7's back into the 6's. If this report also shows inflation is easing and comes in better than expected, we could see rates improve. However, if the data comes in worse than expected we could see rates surge higher.
- The Fed: The Fed is expected to raise policy rates by .50% at this week's meeting, as well as forecast how high it will raise rates in 2023 and at what pace. The Fed's outlook is going to be influenced by Tuesday's inflation data, and will affect mortgage rates immediately.