David Wilson at Pacific Trust Mortgage

06/27/2024

6.750% doesn’t look too bad!

06/26/2024

02/08/2024

Interest Rate Outlook 2024
Mortgage Rates have improved considerably from their peak of 8%, and their trajectory this year will be highly influenced by the path of inflation and the Federal Reserve’s actions.

After hiking rates at one of the fastest paces we have ever seen in history to help reduce very high inflation, the market is trying to anticipate when the Fed will begin cutting rates and slow the reduction of their balance sheet, as these actions should help lower Mortgage Rates.

One of the most important items the Fed is watching is their preferred measure of inflation, Core Personal Consumption Expenditures (PCE), which will need to move confidently towards their 2% target. The most recent inflation reading shows that Core inflation is at 2.9%, which is still above the Fed’s target. But the recent 6-month pace is trending at 1.85% on an annual basis and shows that inflation is heading where the Fed wants, it will likely just take some time.

The market is expecting that the Fed should start cutting rates at their May 1 meeting. If this translates to lower mortgage rates, the additional home buying interest would most likely support home prices rising further.

05/23/2023

Home sales for April 2023 are up 12% year over year!

05/18/2023

Initial Jobless Claims, which measures individuals filing for unemployment benefits for the first time, fell 22,000 to 242,000. Don’t take this as a drop in week to week unemployment…but rather there was fraud in Massachusetts last week that spiked the numbers. Averaging out the last four weeks, this figure stands at 245,000. Continuing Claims, or those that continue to receive benefits after their initial claim, decreased 8,000 to 1.8M.

05/15/2023

Don't believe the hype you hear about an impending home value decrease, these are the numbers as of May 2023.

03/02/2023

Wondering if you should buy now? Check out this video:

This is "Barry Habib for NewsNation 3-1-2023" by MBS Highway on Vimeo, the home for high quality videos and the people who love them.

09/19/2019

As anticipated the Federal Reserve board lowered the Fed Funds target rate by another 0.25%. If you have not already looked into it now is a really good time to look at your refinance options! Feel free to reach out to me for a quote!

The S&P 500 ended marginally higher on Wednesday after Federal Reserve policymak...