01/19/2022
Real Estate Update of the Week!! ๐ ๐ฅ
~ Contact Lender, Tyler Crisci for additional information.
๐ก ๐๐ผ๐ฟ ๐๐ต๐ฒ ๐๐ฒ๐ฒ๐ธ ๐ผ๐ณ ๐๐ฎ๐ป๐๐ฎ๐ฟ๐ ๐ญ๐ณ, ๐ฎ๐ฌ๐ฎ๐ฎ
๐ฅ๐ฒ๐ฐ๐ฎ๐ฝ ๐ผ๐ณ ๐น๐ฎ๐๐ ๐๐ฒ๐ฒ๐ธ: ๐ฅ๐ฎ๐๐ฒ๐ ๐บ๐ผ๐๐ฒ๐ฑ ๐ต๐ถ๐ด๐ต๐ฒ๐ฟ ๐
Mortgage rates continuing to march higher, as markets prepare for the Fed to raise policy rates in 2022. Although the Fed doesn't set mortgage rates, the Fed's actions such as the raising of the Fed funds rate does influence mortgage rates. Markets are already reacting to the expectations the Fed will raise rates as soon as March of this year, and may raise rates more times than initially forecast as it fights to curb inflation.
๐ ๐ผ๐ฟ๐๐ด๐ฎ๐ด๐ฒ ๐ฅ๐ฎ๐๐ฒ ๐๐ผ๐ฟ๐ฒ๐ฐ๐ฎ๐๐: ๐ฅ๐ฎ๐๐ฒ๐ ๐ฐ๐ผ๐๐น๐ฑ ๐ฐ๐ผ๐ป๐๐ถ๐ป๐๐ฒ ๐๐ผ ๐บ๐ผ๐๐ฒ ๐ต๐ถ๐ด๐ต๐ฒ๐ฟ ๐
Average mortgage rates this week could still move higher, as speculation increases that the Fed will be forced to raise rates sooner and more often in 2022 to fight inflation that continues to move higher. Rates are unlikely to retreat much, and consumers should be careful to avoid chasing after rates that are no longer available.
๐๏ธ ๐ช๐ต๐ฎ๐'๐ ๐ฎ๐ณ๐ณ๐ฒ๐ฐ๐๐ถ๐ป๐ด ๐ฟ๐ฎ๐๐ฒ๐ ๐๐ต๐ถ๐ ๐๐ฒ๐ฒ๐ธ:
- Economic data: A quiet week for economic data, nothing that is likely to influence rates this week.
- The Fed: Speculation the Fed will raise rates starting in March and more times than initially expected this year is pushing mortgage rates higher.
- Inflation: Inflation hit 7% in December, the fastest pace since 1982, pressuring rates higher.