Category: News
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July Federal Reserve Meeting Recap
Over the last two days, the Federal Reserve Bank has met to review the pace of inflation since their previous meeting in June. We have a mixture of positive and negative news, but much of it comes down to perception. Inflation has slowed, though the 2% target is still far away. Along with consumer spending…
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June Federal Reserve Meeting Recap
Over the last two days, the Federal Reserve Bank has met to review the pace of inflation since their previous meeting in March. It is good news for those like you, waiting to see what interest rates would do. The Fed announced a 0% interest hike as inflation has continued downward for the 10th month!…
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March Federal Reserve Meeting Recap
Yesterday, March 22, 2023, The Federal Reserve announced a quarter of a percent rate hike to tame inflation. The hike may surprise those who thought last week’s bank failures would make the Federal Reserve take a step back from raising rates. Why did they think that? Banks are sitting on unrealized losses due to bonds…
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03.06.23 Mortgage Rates Update
On Monday, Nerdwallet released the average mortgage rates in the country. The 30-year and 5-Year ARM interest rates are now above 7%. We haven’t seen rates over 7% since November. With the Federal Reserve meeting on March 21-22nd, we expect for rates to keep creeping up in anticipation of the Fed raising rates again. We…
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02.27.23 Mortgage Rates Update
We didn’t post an update last week due to Mardi Gras, but you can still see what the rate was on 2/21 in the charts below. On Monday, Nerdwallet released the average mortgage rates in the country. Rates rose week to week with the 30-year mortgage having the sharpest increase. This week-to-week increase is now…
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02.13.23 Mortgage Rates Update
On Monday, Nerdwallet released the average mortgage rates in the country. Rates ticked up from the week prior and are now higher than at the start of the year. This is by far the most significant week-to-week increase in the new year. Along with the Fed raising interest rates, the economy added over 500k new…
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02.06.23 Mortgage Rates Update
On Monday, Nerdwallet released the average mortgage rates in the country. Rates ticked up from the week prior and are now higher than at the start of the year. After the Federal Reserve announced a quarter of a percentage point increase in rates, we’ve seen the 30-year and 15-year mortgage interest rates tick up about…
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February Federal Reserve Meeting Recap
Yesterday, February 2, 2023, The Federal Reserve announced a quarter of a percent rate hike to tame inflation. Though this target range is the highest since October 2007, it is important to note that this is the lowest hike since the start of the increases in March of the previous year. Notes from the meeting…
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01.30.23 Mortgage Rates Update
On Monday, Nerdwallet released the average mortgage rates in the country. Rates ticked up from the week prior and are now higher than at the start of the year. The Federal Reserve Bank meets on Jan 31st and Feb 1st. So we’ll be watching closely to see what happens. Come back on the 2nd to…
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2022 Monthly Average Interest Rates
After almost two years of insanely low-interest rates, 2022 had a different story. Here’s a quick recap of monthly average rates in 2022: To tame inflation, the Federal Reserve started raising rates in March ’22. You can clearly see that sharp increase from March to April. They continued to raise the rates by three-quarters of…