Fed’s Latest Rate Increase: What You Need to Know
The Federal Reserve took a historic step Wednesday, raising its benchmark interest rate by 50 basis points, putting the key benchmark federal funds rate at a range of 4.25% to 4.5%. This marks the fourth rate increase this year and the ninth since 2015. With this...Have we turned the corner on inflation? Mortgage rates down.
Recent economic data shows that food inflation is rising at a faster rate than overall inflation, with grocery prices rising by 12%, menu prices increasing by 8.5%, and eggs becoming 49.1% more expensive through November. Inflation cooled more than expected in...Housing market shows signs of stabilization amid lower rates
The housing market has been showing signs of stabilization in recent weeks, thanks in part to lower mortgage rates. Purchase application data for the last week of November showed a 3% decline week-over-week, but the year-over-year decline of 40% is the smallest since...Buying Your First Home In California When Mortgage Rates are High
As a first-time homebuyer, it can be overwhelming to consider buying your first home when mortgage interest rates are high. With the current state of the economy, mortgage rates have been on the rise, making it difficult for first-time homebuyers to take the plunge....
Recessions, Inflation, Home Values: Correlations?
Just for kicks, I took a chart showing recessions and home value changes during those recessions, and overlaid inflation the year before, of, and after, the start of the respective recession. Here it is: Sources are: Corelogic, The Balance, macrotrends,net, and (for...
Chris Mason, Loan Officer
