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Extremely Risky Week Coming Up For Better or Worse. Read about the details below. Motto Mortgage Plus can help you close your mortgage in record time with the best rate. Apply online and Go Faster. Go Smarter. GoSimpler.com Tuesday December 13th is the day many people have been waiting for ever since Thursday November 10th. What do those two days have in common? They each mark the monthly release of the Consumer Price Index, the official inflation data responsible for some of 2022's wildest trading days. Wild trading days aren't just for traders. They have a big impact on mortgage rates, not to mention bigger picture impacts. For instance, if a wild trading day were to ensue from a higher reading on inflation, it would imply more restrictive policies from the Federal Reserve. That's something that can shape entire economic cycles, potentially hastening the recession that some market-watchers expect in 2023. In the case of December 13th, it makes a lot of sense to worry about the implications for Fed policy. The Fed releases its next statement the very next day! It's a near certainty that the Fed will hike rates by 0.50%, a 0.25% decrease from the last hike in early November. Markets won't be reacting to that as much as the info the Fed publishes alongside the rate hike. Of specific concern is the proverbial "dot plot." This is a reference to the format of the Fed's forward-looking rate forecasts, published in dot plot format showing each Fed member's thoughts. The "dots," as they're also called, frequently have the biggest impact on financial markets on the days when they come out (only 4 of the 8 Fed meetings per year). #mortgagerates #mortgage #realestate #mortgagebroker #mortgagelender #refinance #firsttimehomebuyer #mortgagetips #loanofficer #homebuyers #mortgages #homeloans #realtor #newhome #realestateagent #mortgagelife #mortgagespecialist #homebuying #househunting #mortgageloans #dreamhome #homeloan #mortgageadvice #mortgageloanofficer #homeownership #home #creditscore #finance #mortgageloan #mortgageexpert

Extremely Risky Week Coming Up For Better or Worse. Read about the details below. Motto Mortgage Plus can help you close your mortgage in record time with the best rate. Apply online and Go Faster. Go Smarter. GoSimpler.com Tuesday December 13th is the day many people have been waiting for ever since Thursday November 10th. What do those two days have in common? They each mark the monthly release of the Consumer Price Index, the official inflation data responsible for some of 2022's wildest trading days. Wild trading days aren't just for traders.  They have a big impact on mortgage rates, not to mention bigger picture impacts.  For instance, if a wild trading day were to ensue from a higher reading on inflation, it would imply more restrictive policies from the Federal Reserve.  That's something that can shape entire economic cycles, potentially hastening the recession that some market-watchers expect in 2023. In the case of December 13th, it makes a lot of sense to worry about the implications for Fed policy.  The Fed releases its next statement the very next day!  It's a near certainty that the Fed will hike rates by 0.50%, a 0.25% decrease from the last hike in early November.  Markets won't be reacting to that as much as the info the Fed publishes alongside the rate hike. Of specific concern is the proverbial "dot plot."  This is a reference to the format of the Fed's forward-looking rate forecasts, published in dot plot format showing each Fed member's thoughts.  The "dots," as they're also called, frequently have the biggest impact on financial markets on the days when they come out (only 4 of the 8 Fed meetings per year).  #mortgage #mortgagerates #refinance #homepurchase #realestate #denver #coloradosprings #colorado #houston #corpuschristi #texas #california

Mortgage Rates Slightly Higher, But Bigger Volatility is Coming. Read about the details below. Motto Mortgage Plus can help you close your mortgage in record time with the best rate. Apply online and Go Faster. Go Smarter. GoSimpler.com Mortgage rates have been remarkably well behaved since the November 10th release of the last Consumer Price Index (CPI), the monthly inflation report that has the biggest impact on the market.  The next CPI comes out next Tuesday.  Much of the time spent between these two reports could be described as an inconsequential waiting game. Today's rates happened to be a bit higher than yesterday's, but we're talking about levels of movement that are only going to matter to borrowers who are actively looking to lock a rate this week.  Even then, the changes won't be big enough for many borrowers to care. All of that changes next week, or at least it has the most potential to change next week.  The CPI report comes out on Tuesday.  If that's not enough to cause an extreme reaction in the bond market, the Fed announcement is out the next day and it can also pack a punch. Between now and then, while there are never any guarantees about the future when it comes to financial markets, rates aren't likely to be anywhere other than the mid-to-low 6% range for top tier conventional 30yr fixed scenarios. #mortgage #mortgagerates #refinance #homepurchase #realestate #denver #coloradosprings #colorado #houston #corpuschristi #texas #california

Mortgage Rates Slightly Higher, But Bigger Volatility is Coming. Read about the details below. Motto Mortgage Plus can help you close your mortgage in record time with the best rate. Apply online and Go Faster. Go Smarter. GoSimpler.com Mortgage rates have been remarkably well behaved since the November 10th release of the last Consumer Price Index (CPI), the monthly inflation report that has the biggest impact on the market.  The next CPI comes out next Tuesday.  Much of the time spent between these two reports could be described as an inconsequential waiting game. Today's rates happened to be a bit higher than yesterday's, but we're talking about levels of movement that are only going to matter to borrowers who are actively looking to lock a rate this week.  Even then, the changes won't be big enough for many borrowers to care. All of that changes next week, or at least it has the most potential to change next week.  The CPI report comes out on Tuesday.  If that's not enough to cause an extreme reaction in the bond market, the Fed announcement is out the next day and it can also pack a punch. Between now and then, while there are never any guarantees about the future when it comes to financial markets, rates aren't likely to be anywhere other than the mid-to-low 6% range for top tier conventional 30yr fixed scenarios. #mortgage #mortgagerates #refinance #homepurchase #realestate #denver #coloradosprings #colorado #houston #corpuschristi #texas #california

Mortgage Rates Slightly Higher, But Bigger Volatility is Coming. Read about the details below. Motto Mortgage Plus can help you close your mortgage in record time with the best rate. Apply online and Go Faster. Go Smarter. GoSimpler.com Mortgage rates have been remarkably well behaved since the November 10th release of the last Consumer Price Index (CPI), the monthly inflation report that has the biggest impact on the market.  The next CPI comes out next Tuesday.  Much of the time spent between these two reports could be described as an inconsequential waiting game. Today's rates happened to be a bit higher than yesterday's, but we're talking about levels of movement that are only going to matter to borrowers who are actively looking to lock a rate this week.  Even then, the changes won't be big enough for many borrowers to care. All of that changes next week, or at least it has the most potential to change next week.  The CPI report comes out on Tuesday.  If that's not enough to cause an extreme reaction in the bond market, the Fed announcement is out the next day and it can also pack a punch. Between now and then, while there are never any guarantees about the future when it comes to financial markets, rates aren't likely to be anywhere other than the mid-to-low 6% range for top tier conventional 30yr fixed scenarios. #mortgage #mortgagerates #refinance #homepurchase #realestate #denver #coloradosprings #colorado #houston #corpuschristi #texas #california

Mortgage Rates Slightly Higher, But Bigger Volatility is Coming. Read about the details below. Motto Mortgage Plus can help you close your mortgage in record time with the best rate. Apply online and Go Faster. Go Smarter. GoSimpler.com Mortgage rates have been remarkably well behaved since the November 10th release of the last Consumer Price Index (CPI), the monthly inflation report that has the biggest impact on the market.  The next CPI comes out next Tuesday.  Much of the time spent between these two reports could be described as an inconsequential waiting game. Today's rates happened to be a bit higher than yesterday's, but we're talking about levels of movement that are only going to matter to borrowers who are actively looking to lock a rate this week.  Even then, the changes won't be big enough for many borrowers to care. All of that changes next week, or at least it has the most potential to change next week.  The CPI report comes out on Tuesday.  If that's not enough to cause an extreme reaction in the bond market, the Fed announcement is out the next day and it can also pack a punch. Between now and then, while there are never any guarantees about the future when it comes to financial markets, rates aren't likely to be anywhere other than the mid-to-low 6% range for top tier conventional 30yr fixed scenarios. #mortgage #mortgagerates #refinance #homepurchase #realestate #denver #coloradosprings #colorado #houston #corpuschristi #texas #california

Mortgage Rates Slightly Higher, But Bigger Volatility is Coming. Read about the details below. Motto Mortgage Plus can help you close your mortgage in record time with the best rate. Apply online and Go Faster. Go Smarter. GoSimpler.com Mortgage rates have been remarkably well behaved since the November 10th release of the last Consumer Price Index (CPI), the monthly inflation report that has the biggest impact on the market.  The next CPI comes out next Tuesday.  Much of the time spent between these two reports could be described as an inconsequential waiting game. Today's rates happened to be a bit higher than yesterday's, but we're talking about levels of movement that are only going to matter to borrowers who are actively looking to lock a rate this week.  Even then, the changes won't be big enough for many borrowers to care. All of that changes next week, or at least it has the most potential to change next week.  The CPI report comes out on Tuesday.  If that's not enough to cause an extreme reaction in the bond market, the Fed announcement is out the next day and it can also pack a punch. Between now and then, while there are never any guarantees about the future when it comes to financial markets, rates aren't likely to be anywhere other than the mid-to-low 6% range for top tier conventional 30yr fixed scenarios. #mortgage #mortgagerates #refinance #homepurchase #realestate #denver #coloradosprings #colorado #houston #corpuschristi #texas #california

Mortgage Rates Slightly Higher, But Bigger Volatility is Coming. Read about the details below. Motto Mortgage Plus can help you close your mortgage in record time with the best rate. Apply online and Go Faster. Go Smarter. GoSimpler.com Mortgage rates have been remarkably well behaved since the November 10th release of the last Consumer Price Index (CPI), the monthly inflation report that has the biggest impact on the market. The next CPI comes out next Tuesday. Much of the time spent between these two reports could be described as an inconsequential waiting game. Today's rates happened to be a bit higher than yesterday's, but we're talking about levels of movement that are only going to matter to borrowers who are actively looking to lock a rate this week. Even then, the changes won't be big enough for many borrowers to care. All of that changes next week, or at least it has the most potential to change next week. The CPI report comes out on Tuesday. If that's not enough to cause an extreme reaction in the bond market, the Fed announcement is out the next day and it can also pack a punch. Between now and then, while there are never any guarantees about the future when it comes to financial markets, rates aren't likely to be anywhere other than the mid-to-low 6% range for top tier conventional 30yr fixed scenarios. #mortgagerates #mortgage #realestate #mortgagebroker #mortgagelender #refinance #firsttimehomebuyer #mortgagetips #loanofficer #homebuyers #mortgages #homeloans #realtor #newhome #realestateagent #mortgagelife #mortgagespecialist #homebuying #househunting #mortgageloans #dreamhome #homeloan #mortgageadvice #mortgageloanofficer #homeownership #home #creditscore #finance #mortgageloan #mortgageexpert

Mortgage Rates Slightly Higher, But Bigger Volatility is Coming. Read about the details below. Motto Mortgage Plus can help you close your mortgage in record time with the best rate. Apply online and Go Faster. Go Smarter. GoSimpler.com Mortgage rates have been remarkably well behaved since the November 10th release of the last Consumer Price Index (CPI), the monthly inflation report that has the biggest impact on the market.  The next CPI comes out next Tuesday.  Much of the time spent between these two reports could be described as an inconsequential waiting game. Today's rates happened to be a bit higher than yesterday's, but we're talking about levels of movement that are only going to matter to borrowers who are actively looking to lock a rate this week.  Even then, the changes won't be big enough for many borrowers to care. All of that changes next week, or at least it has the most potential to change next week.  The CPI report comes out on Tuesday.  If that's not enough to cause an extreme reaction in the bond market, the Fed announcement is out the next day and it can also pack a punch. Between now and then, while there are never any guarantees about the future when it comes to financial markets, rates aren't likely to be anywhere other than the mid-to-low 6% range for top tier conventional 30yr fixed scenarios. #mortgage #mortgagerates #refinance #homepurchase #realestate #denver #coloradosprings #colorado #houston #corpuschristi #texas #california

Rates Fall Back to Multi-Month Lows. Read about the details below. Motto Mortgage Plus can help you close your mortgage in record time with the best rate. Apply online and Go Faster. Go Smarter. GoSimpler.com Mortgage rates moved moderately lower today after new economic data showed a big drop in the cost of labor in Q3.  Labor costs are one of the places the Fed looks for evidence that inflation is becoming entrenched.  In today's case, the drop suggests additional moderation in the pace of underlying inflationary pressures. The market's reaction was possibly bigger than it otherwise might have been due to the intense focus on next week's inflation data on Tuesday and the likely announcement of a smaller rate hike from the Fed the following day.   In short, rampant inflation has been the biggest contributor to the abrupt rate spike in 2022 and the hope is increasing that a shift is about to be confirmed.  Today's mortgage rates aren't significantly lower than yesterday's on average, but it was enough of a movement for the average lender to hit the the lowest levels since early September.   #mortgage #mortgagerates #refinance #homepurchase #realestate #denver #coloradosprings #colorado #houston #corpuschristi #texas #california

Rates Fall Back to Multi-Month Lows. Read about the details below. Motto Mortgage Plus can help you close your mortgage in record time with the best rate. Apply online and Go Faster. Go Smarter. GoSimpler.com Mortgage rates moved moderately lower today after new economic data showed a big drop in the cost of labor in Q3.  Labor costs are one of the places the Fed looks for evidence that inflation is becoming entrenched.  In today's case, the drop suggests additional moderation in the pace of underlying inflationary pressures. The market's reaction was possibly bigger than it otherwise might have been due to the intense focus on next week's inflation data on Tuesday and the likely announcement of a smaller rate hike from the Fed the following day.   In short, rampant inflation has been the biggest contributor to the abrupt rate spike in 2022 and the hope is increasing that a shift is about to be confirmed.  Today's mortgage rates aren't significantly lower than yesterday's on average, but it was enough of a movement for the average lender to hit the the lowest levels since early September.   #mortgage #mortgagerates #refinance #homepurchase #realestate #denver #coloradosprings #colorado #houston #corpuschristi #texas #california

Rates Fall Back to Multi-Month Lows. Read about the details below. Motto Mortgage Plus can help you close your mortgage in record time with the best rate. Apply online and Go Faster. Go Smarter. GoSimpler.com Mortgage rates moved moderately lower today after new economic data showed a big drop in the cost of labor in Q3.  Labor costs are one of the places the Fed looks for evidence that inflation is becoming entrenched.  In today's case, the drop suggests additional moderation in the pace of underlying inflationary pressures. The market's reaction was possibly bigger than it otherwise might have been due to the intense focus on next week's inflation data on Tuesday and the likely announcement of a smaller rate hike from the Fed the following day.   In short, rampant inflation has been the biggest contributor to the abrupt rate spike in 2022 and the hope is increasing that a shift is about to be confirmed.  Today's mortgage rates aren't significantly lower than yesterday's on average, but it was enough of a movement for the average lender to hit the the lowest levels since early September.   #mortgage #mortgagerates #refinance #homepurchase #realestate #denver #coloradosprings #colorado #houston #corpuschristi #texas #california

Rates Fall Back to Multi-Month Lows. Read about the details below. Motto Mortgage Plus can help you close your mortgage in record time with the best rate. Apply online and Go Faster. Go Smarter. GoSimpler.com Mortgage rates moved moderately lower today after new economic data showed a big drop in the cost of labor in Q3. Labor costs are one of the places the Fed looks for evidence that inflation is becoming entrenched. In today's case, the drop suggests additional moderation in the pace of underlying inflationary pressures. The market's reaction was possibly bigger than it otherwise might have been due to the intense focus on next week's inflation data on Tuesday and the likely announcement of a smaller rate hike from the Fed the following day. In short, rampant inflation has been the biggest contributor to the abrupt rate spike in 2022 and the hope is increasing that a shift is about to be confirmed. Today's mortgage rates aren't significantly lower than yesterday's on average, but it was enough of a movement for the average lender to hit the the lowest levels since early September. #mortgagerates #mortgage #realestate #mortgagebroker #mortgagelender #refinance #firsttimehomebuyer #mortgagetips #loanofficer #homebuyers #mortgages #homeloans #realtor #newhome #realestateagent #mortgagelife #mortgagespecialist #homebuying #househunting #mortgageloans #dreamhome #homeloan #mortgageadvice #mortgageloanofficer #homeownership #home #creditscore #finance #mortgageloan #mortgageexpert

Rates Fall Back to Multi-Month Lows. Read about the details below. Motto Mortgage Plus can help you close your mortgage in record time with the best rate. Apply online and Go Faster. Go Smarter. GoSimpler.com Mortgage rates moved moderately lower today after new economic data showed a big drop in the cost of labor in Q3.  Labor costs are one of the places the Fed looks for evidence that inflation is becoming entrenched.  In today's case, the drop suggests additional moderation in the pace of underlying inflationary pressures. The market's reaction was possibly bigger than it otherwise might have been due to the intense focus on next week's inflation data on Tuesday and the likely announcement of a smaller rate hike from the Fed the following day.   In short, rampant inflation has been the biggest contributor to the abrupt rate spike in 2022 and the hope is increasing that a shift is about to be confirmed.  Today's mortgage rates aren't significantly lower than yesterday's on average, but it was enough of a movement for the average lender to hit the the lowest levels since early September.   #mortgage #mortgagerates #refinance #homepurchase #realestate #denver #coloradosprings #colorado #houston #corpuschristi #texas #california

Mortgage Rates Drift Inconsequentially Higher. Read about the details below. Motto Mortgage Plus can help you close your mortgage in record time with the best rate. Apply online and Go Faster. Go Smarter. GoSimpler.com This week continues to be a placeholder ahead of more consequential events coming up in the week ahead. Specifically, next Tuesday and Wednesday's combination of the Consumer Price Index and the Fed announcement will unequivocally set the tone for rates heading into the end of the year and possibly beyond. Between now and then, there's not much to be done when it comes to big changes in rates. Today was another great example as the bonds that underlie the mortgage market traded well inside the range that's been intact since last Wednesday afternoon. In fact, today's trading only occupied a small portion of that range. When markets trade in increasingly narrow ranges, it's a sign of indecision and anticipation ahead of bigger-ticket events, or at least it can be. In the current case, it's highly likely. Drilling down to nitty gritty detail, we find the average rate was just a bit higher this morning compared to yesterday afternoon, but that can vary by lender depending on the timing and size of yesterday's rate increases. In the bigger picture, the average lender is still in the mid 6% range (or just below) for a top tier conventional conforming 30yr fixed scenario. #mortgagerates #mortgage #realestate #mortgagebroker #mortgagelender #refinance #firsttimehomebuyer #mortgagetips #loanofficer #homebuyers #mortgages #homeloans #realtor #newhome #realestateagent #mortgagelife #mortgagespecialist #homebuying #househunting #mortgageloans #dreamhome #homeloan #mortgageadvice #mortgageloanofficer #homeownership #home #creditscore #finance #mortgageloan #mortgageexpert

Mortgage Rates Drift Inconsequentially Higher. Read about the details below. Motto Mortgage Plus can help you close your mortgage in record time with the best rate. Apply online and Go Faster. Go Smarter. GoSimpler.com This week continues to be a placeholder ahead of more consequential events coming up in the week ahead.  Specifically, next Tuesday and Wednesday's combination of the Consumer Price Index and the Fed announcement will unequivocally set the tone for rates heading into the end of the year and possibly beyond. Between now and then, there's not much to be done when it comes to big changes in rates.  Today was another great example as the bonds that underlie the mortgage market traded well inside the range that's been intact since last Wednesday afternoon.  In fact, today's trading only occupied a small portion of that range. When markets trade in increasingly narrow ranges, it's a sign of indecision and anticipation ahead of bigger-ticket events, or at least it can be.  In the current case, it's highly likely.   Drilling down to nitty gritty detail, we find the average rate was just a bit higher this morning compared to yesterday afternoon, but that can vary by lender depending on the timing and size of yesterday's rate increases.  In the bigger picture, the average lender is still in the mid 6% range (or just below) for a top tier conventional conforming 30yr fixed scenario. #mortgage #mortgagerates #refinance #homepurchase #realestate #denver #coloradosprings #colorado #houston #corpuschristi #texas #california

Mortgage Rates Little-Changed Near 2-Month Lows. Read about the details below. Motto Mortgage Plus can help you close your mortgage in record time with the best rate. Apply online and Go Faster. Go Smarter. GoSimpler.com The mortgage landscape is very interesting at the moment.  On any given day, some lenders are moving higher, others are moving lower, and the rest are remaining relatively unchanged.  The average lender has been closer to unchanged so far this week but that's a good thing considering rates are in line with their lowest levels in nearly 2 months.  Earlier this morning, it looked like there could have been some risk to the low rate outlook as the Retail Sales report came out stronger than expected for the month of October.  The bond market briefly lost ground--something that coincides with rates moving higher--but quickly recovered and moved to stronger levels (something that coincides with rates moving lower). All of this volatility played out before mortgage lenders published their first rate sheets of the day.  Modest additional gains in the bond market allowed many lenders to lower rates slightly in the afternoon. In general, lenders have been cautious about adjusting rates as quickly as market movement would allow.  This has enabled them to hold steadier on days where the market should be pushing rates higher, but also makes for less responsiveness on days where bonds should be pushing rates lower.  #mortgage #mortgagerates #refinance #homepurchase #realestate #denver #coloradosprings #colorado #houston #corpuschristi #texas #california