Fed Holds The Line on Rates Till at Least March

Jerome Powell awaits more data to build confidence on rate cuts. The Fed holds the federal funds rate steady today, and inches closer to cutting but don’t hold your breath. There won’t be cuts until fed officials are more confident on the path of inflation. By March we’ll see two more months of data that could tip the scales.

#mortgageinsiders #mortgageinsider
Subscribe to Newsletter@

This Mortgage Insider update and similar such communications are for informational purposes only and are based on publicly available information. These materials are general communications, which are not impartial, and are provided solely for discussion purposes, and not in connection with any product or service offering. The opinions and views expressed in this market update are as of the date of this communication and are subject to change. Any forward-looking views and statements contained in this update are based on current estimates or expectations of future events or results. Actual results may differ materially from those described in this market update. The views expressed in this communication should not be attributed to American Financial Network as a whole and may not be reflected in the strategies and products offered by American Financial Network.

Brian M. Cushing, NMLS ID #303045 is licensed to do business in the states of: Oregon, California, Colorado & Nevada. Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act; NV License #3688; American Financial Network, Inc. CORP NMLS# 237341. Equal Opportunity Employer. Equal Opportunity Lender. 10 Pointe Drive, Suite 330, Brea, CA 92821….(read more)

HOW TO: Hedge Against Inflation

REVEALED: Best Investment During Inflation

HOW TO INVEST IN GOLD: Gold IRA Investing

HOW TO INVEST IN SILVER: Silver IRA Investing

Mortgage Insider: January 31st, 2024

As we wrap up the first month of the new year, Mortgage Insider brings you the latest updates and insights from the mortgage industry. From news on interest rates to tips for homebuyers, we’ve got you covered.

Interest Rate Trends
One of the most talked-about topics in the mortgage industry is interest rates. As of January 31st, 2024, the average 30-year fixed mortgage rate stands at 3.5%. This marks a slight increase from the previous month but still remains relatively low compared to historical averages. Experts predict that interest rates may continue to rise in the coming months, making now a favorable time for potential homebuyers to secure a mortgage before rates climb higher.

Market Analysis
The housing market continues to be robust, with strong demand from buyers and low inventory of homes for sale. This has resulted in soaring home prices in many areas, making it a seller’s market. However, there are indications that the market may be starting to cool off, with some regions seeing a slight dip in sales activity. As always, it’s important for buyers to conduct thorough research and seek the guidance of a knowledgeable real estate agent before making any major decisions.

Tips for Homebuyers
For those in the market for a new home, it’s crucial to be well-prepared and informed. Some tips to keep in mind include getting pre-approved for a mortgage, understanding all associated costs, and conducting a thorough inspection of any potential properties. Additionally, it’s wise to carefully consider the long-term financial implications of homeownership and to make sure that the home you’re considering aligns with your future plans and needs.

Mortgage Insider Spotlight
In this month’s Mortgage Insider Spotlight, we’re shining a light on the importance of credit scores when applying for a mortgage. Your credit score plays a significant role in the interest rate you’ll be offered, as well as your ability to qualify for certain loan programs. It’s essential to monitor and maintain a healthy credit score, as this can save you thousands of dollars over the life of your mortgage.

Industry News
In recent industry news, there has been growing speculation about potential changes to lending regulations and government-backed loan programs. The mortgage industry is closely monitoring any developments in this area, as regulatory changes could have a significant impact on borrowers and lenders alike.

Looking Ahead
As we move into February, the mortgage industry continues to evolve and adapt to changing market conditions. From fluctuating interest rates to shifting housing trends, staying informed and proactive is essential for anyone involved in the home buying process.

That’s it for this edition of Mortgage Insider. Stay tuned for more updates and insights in the months ahead. As always, we’re here to help you navigate the complex world of mortgages and homeownership.