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re: Anyone have insight on how high mortgage rates will go?
Posted on 12/11/22 at 10:04 pm to Cobra Tate
Posted on 12/11/22 at 10:04 pm to Cobra Tate
Hope you are right but what I’ve been reading is saying it’s not as good as people had hoped. With the Fed announcing another .50 interest rate hike, mortgage rates could move back closer to 7% this week.
1
Posted on 12/11/22 at 10:07 pm to shoelessjoe
Ima banka and I say not as high as somadeesfolks fear..
7.5 tops, but maybe not dat high
7.5 tops, but maybe not dat high
Posted on 12/11/22 at 11:07 pm to llfshoals
quote:
Then quite literally every lender in every company is a terrible lender by your standards. I talk a lot of them on a regular basis.
A known Fed rate increase is about as baked into current rates as anything can possibly be.
It is in a lender’s best interest to sell the idea rates are going up and you should borrow now vs waiting. That conflict of interest alone should make you question their judgment, and arguing that the Fed increase will cause mortgage/long term rates to jump is asinine. The Fed is raising rates .50% on Wednesday, but CPI on Tuesday is infinitely more important to long term rates.
Posted on 12/11/22 at 11:58 pm to slackster
What’s everyone’s opinion on the CPI Tuesday? Higher or lower than the October report? If it comes out lower, interest rates should come down I believe. It it’s higher than rates will move higher.
Posted on 12/12/22 at 7:56 am to shoelessjoe
quote:
Hope you are right but what I’ve been reading is saying it’s not as good as people had hoped
On month to month
Year over year was a significant drop
Why would a fed hike at .5% send rates up?
Its exactly what everyone expects and will show signs inflation is tamed which drives rates down
Posted on 12/13/22 at 8:21 am to Cobra Tate
quote:
Inflation slowed more than expected in November, an encouraging sign for Federal Reserve officials as they gather in Washington this week to discuss the next steps in their policy campaign against rapid price increases.
Call up your broker
10yr under 3.5
Posted on 12/13/22 at 8:34 am to Cobra Tate
This is correct.
Current rates baked in a 0.5.
Fed commentary will influence future rates more than fed actions.
I would not be surprised to see the fed act a little doveish this week to gauge the reaction.
Current rates baked in a 0.5.
Fed commentary will influence future rates more than fed actions.
I would not be surprised to see the fed act a little doveish this week to gauge the reaction.
Posted on 12/13/22 at 8:55 am to Highthoughts
quote:
I would not be surprised to see the fed act a little doveish this week to gauge the reaction.
They will then Raging Bullard will say something dumb and frick it up
Posted on 12/13/22 at 6:09 pm to Cobra Tate
What will affect mortgage rates more? The CPI report that was positive today or the Fed tomorrow if they hike up .50 rather than .75?
Posted on 12/14/22 at 7:12 am to shoelessjoe
quote:
What will affect mortgage rates more? The CPI report that was positive today or the Fed tomorrow if they hike up .50 rather than .75?
What the Fed says not what they do. Everyone knows its a .5 hike. Raging Bullard or Powell could come out and ruin everything
Posted on 12/14/22 at 8:42 pm to Cobra Tate
I don’t think the fed is going to influence mortgage rates too much more unless they go crazy aggressive.
Demand is going to influence rates more at this point, in my opinion.
Already seeing rates drop because of demand destruction.
Demand is going to influence rates more at this point, in my opinion.
Already seeing rates drop because of demand destruction.
This post was edited on 12/14/22 at 8:42 pm
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