Mortgage rates were on the rise this month. However, that all has changed over the past two days. Average 30 yr fixed rates decreased by 27 basis points (or 0.27 percentage points) per the Mortgage News Daily after downbeat economic data was released. The JOLTS report or the Job Openings and Labor Turnover Survey showed that U.S. job openings dropped to the lowest levels in nearly 2.5 years and the number of people quitting their jobs fell to the lowest levels since early 2021. This is good news for the Federal Reserve because they want to see the jobs market slow down which would likely lower inflation.
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To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 7.1% for the current mortgage rates (at the time of filming this video for those with excellent credit).
Comment below: what’s your housing market forecast? Do you think a housing crash will happen or are your housing market predictions that the real estate market and home prices will continue to surge?
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*** Jason Walter, CPA (lic 103885) Sacramento real estate agent and native Realty ONE Group Complete (DRE 01923240) [email protected]
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Disclaimer: Jason Walter is not a practicing tax accountant or a licensed attorney or financial adviser. Therefore, the information in these videos shall not be relied upon as tax, legal, or financial advice from a qualified perspective. If you need such advice, please contact a qualified tax accountant, attorney, or financial adviser. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. You expressly agree not to rely upon any information contained in this video - it is for entertainment purposes only.
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