As the Fed paused rate hikes, mortgage markets experienced a volatile week, concluding the with a slight increase.
As the week comes to a close, mortgage rates reached March 2023 levels as investors shifted their focus away from banking.
After a muddling 2022, refinance applications soared 10% week-over-week. This showed signs of life in the mortgage industry.
The April 2023 MBS volatility presented a mixed bag of economic indicators and data in the banking crisis aftermath.
This week, mortgage-backed securities dropped as consumer spending data fell short. Meanwhile, the inflation data matched expectations.
Taking a look back at March 2023 mortgage rates, the big news of the month stemmed from the volatile banking sector.
After 2022 demonstrated recent record highs, the new year kicked off with lower January 2023 mortgage rates.
The latest real estate data shows the United States in desperate need of new housing inventory as existing homes fell in December.
CPI report has investor’s focus during a light week in economic news. The held no surprises with lower mortgage rates ending the week.