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3 Reasons Why Mortgage Rates are so High?

Garrick Werdmuller

President; CEO; Broker on Record, at Fresh Home Loan Inc

发布日期: 2022年10月12日

?That's a question that we've been answering again and again throughout 2022, but the answer hasn't really changed in terms of its essential ingredients.? They are as follows:

Incredibly high inflation?
Remarkably resilient economic data (employment)?

Unemployment we had a strong report with over 570K jobs created for people age 45+ and get this over 300+ jobs were people over 55. Meanwhile we had 300,000 people leaving the job force for a creation of 263,000 jobs.

And to a lesser extent, a recent stint of incredibly rate-friendly Fed policies that require a bit of unwinding.The Feds are letting the housing market cool off:
Home price appreciation got way ahead of itself by rising roughly 40% over 2 years (this also contributes to inflation metrics)
The Fed knows rate policy changes will generally have the most immediate effects on the housing market, so it would be prepared to overlook an initial correction in lending volume and home prices. In the current case, the Fed sees charts like the following and concludes that it is a good and necessary thing for the housing market to be cooling off.

This week the National Average of Mortgage Rats rose above 7% for the first time since 2008.?As a wholesale lender, we are locking at about .75% below that this week. For an accurate quote visit:

https://freshhomeloan.com/todays-rate-checker/

Garrick Werdmuller is President and CEO if Fresh Home Loan

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President CEO

Fresh Home Loan Inc

510.282.5456 call/text

www.FreshHomeLoan.com

NMLS 242952

All loan approvals are conditional and not guaranteed and subject to lender review of all information. Loan is conditionally approved when lender has issued approval in writing, but until all conditions are met, loan cannot be funded. Specified rates and [products may not be available to all borrowers. Rates subject to change according to market conditions and agreed upon lock times set by borrower. Fresh Home Loan Inc. is an Equal Opportunity Mortgage Broker in California. This licensee is performing acts for which a real estate license is required. Fresh Reverse is a dba of Fresh Home Loan Inc.?Fresh Home Loan, Inc. is licensed by the California Department of Real Estate #02137513 NMLS # 2124104

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3 Reasons Why Mortgage Rates are so High?

Garrick Werdmuller

President; CEO; Broker on Record, at Fresh Home Loan Inc

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