Good.
This means the risk premium banks are demanding for loaning to you on a mortgage vs the risk free rate is going down. Therefore banks think you’re less likely to default. Good news.
When people stop buying a product, the seller offers a discount to gooses sales. Banks are willing to make less profit from a mortgage than they did months ago because demand has collapsed. Bad news.
Or overall interest rates are down 50bps because the Fed stopped being a fucking idiot.
If feds don’t raise interest rates now, there will be no where but negative to go when we actually need to decrease interest rates. Realistically we should have started raising them a long time ago.
Where are all those posts about the housing market imploding
Volatility in equities is pushing demand to T-bills. 30 year mortgages track the 10 year. https://fred.stlouisfed.org/series/DGS10
Damn 15 year DOWN to 4%? My 15 year @ 2.875 feels good.
I got mine for 3.625 about 3 weeks ago :)
Good time to buy/refinance before it goes up again. Houses are sale pending more. People are still buying if the houses are in good location, even with over $1m purchase price. Housing market will come up starting Feb
This is looking at a national issue through the narrow lens of the Bay Area. US > CA > SF
Weird why is ARM higher rate than 30 year fixed. That makes no sense.
I think because of high near term uncertainty.
Means that the market is pricing in further reduction of interest rates