Why CHOOSE North Hills / Raleigh Midtown

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It is a one-stop shop for everything in North Raleigh. Initially founded in 1960 as a strip mall, then later the North Hills Mall in 1967, the first of its kind to be enclosed- it has since turned into a coveted shopping and entertainment area in the heart of Raleigh. With even more plans for the future; for restaurants, shopping, …

High Inflation

Raleigh Mortgage Group Uncategorized

The most anticipated economic data this week, the key CPI inflation report, was higher than expected. As a result, mortgage rates increased a bit. The Consumer Price Index (CPI) is a closely watched inflation indicator that looks at price changes for a broad range of goods and services. In August, CPI was 8.2% higher than a year ago, above the …

Unemployment Rate Falls

Raleigh Mortgage Group Uncategorized

This past week, the highly anticipated labor market data did not ease investor concerns about inflation and additional Fed rate hikes. As a result, mortgage rates ended a bit higher. While most of the closely watched Employment report released on Friday was right in line with expectations, one key element did not contain the results hoped for by Fed officials. …

Spotlight on UK

Raleigh Mortgage Group Uncategorized

It was another extremely volatile week for global financial markets, largely due to offsetting events in the UK, but the net result for US mortgage markets was small. According to the most recent Freddie Mac weekly survey, average mortgage rates have risen a shocking 3.70% from one year ago and are now at the highest levels since 2007. To help …

Upside Surprise in Inflation

Raleigh Mortgage Group Uncategorized

The driving force behind the movement in mortgage rates in recent months is clear, and the latest news was not favorable. In the highly anticipated CPI report, inflation was much higher than expected, and mortgage rates predictably climbed. The Consumer Price Index (CPI) is a closely watched inflation indicator that looks at price changes for a broad range of goods …

ECB Raises Rates

Raleigh Mortgage Group Uncategorized

During a light week for economic data, investors were focused on U.S. and European central bankers. There were no surprises from the European Central Bank (ECB) or U.S. Fed Chair Powell, however, and mortgage rates ended the week with little change. With inflation surging to decade highs, the ECB raised interest rates by a massive 75 basis points to the …

Mixed Labor Market Data

Raleigh Mortgage Group Uncategorized

Investor concerns about stubbornly high inflation levels and the aggressive response by global central banks increased last week, while the major economic reports were roughly neutral overall. As a result, mortgage rates ended the week higher. The closely watched Employment report released on Friday revealed mixed results. Against a consensus forecast of 320,000, the economy gained 315,000 jobs in August, …

No Surprises from Powell

Raleigh Mortgage Group Uncategorized

Neither a speech from Fed Chair Powell nor the economic data caused much reaction this week. Mortgage rates ended a little higher. In a highly anticipated speech from the Jackson Hole economic summit, Fed Chair Powell warned that the consequences of not fighting inflation aggressively enough would be worse than the effects of tighter monetary policy, which could include “some …

European Inflation Surges

Raleigh Mortgage Group Uncategorized

The inflation data in Europe released this week revealed sharp increases, which caused global bond yields to rise, including U.S. mortgage rates. The U.S. economic news had little impact. While inflation in the U.S. has been moderating a bit recently, it has surged to record levels in Europe. The latest report from the European Union revealed a massive annual rate …

Inflation Moderates

Raleigh Mortgage Group Uncategorized

Two opposing forces influenced mortgage markets this week. Lower than expected inflation data was very welcome news to investors, but an aggressive tone from the Fed was not. The net effect was that mortgage rates ended the week nearly unchanged. The Consumer Price Index (CPI) is a closely watched inflation indicator that looks at price changes for a broad range …