As the week comes to a close, mortgage rates reached March 2023 levels as investors shifted their focus away from banking.
The April 2023 MBS volatility presented a mixed bag of economic indicators and data in the banking crisis aftermath.
February 2023 mortgage rates faced high levels of volatility, later reaching November 2022 highs after strong Employment data came out.
Mortgage rates climbed to the highest levels since November. The spike is directly due to the major inflation data released this week. The data on inflation was stronger than expected.
The latest real estate data shows the United States in desperate need of new housing inventory as existing homes fell in December.
This week, October 2022 home sales fell, marking the ninth straight month of declines, as mortgage rates remained unchanged.
Looking back at October 2022 MBS trends, inflation once again dominated headlines as the Federal Reserve and ECB continue to raise rates.
As central banks around the world maintain an aggressive policy stance, mortgage rates achieved their highest levels in over 10 years.
Taking a look back at August 2022 mortgage rates, mortgage-backed securities continued to soar amongst stubbornly high inflation levels.