Another Huge Rate Hike

Raleigh Mortgage GroupUncategorized

There were two major economic events on tap this week, but only one produced much reaction. The Fed meeting on Wednesday caused investors to raise their outlook for monetary policy tightening, pushing bond yields higher, while the highly anticipated labor market data released on Friday was close to expectations overall and had little impact. As a result, mortgage rates ended …

Why Choose Wake Forest, NC:

Raleigh Mortgage GroupUncategorized

Are you looking for a new area to explore and feel at home with simultaneously? Well, look no further than Wake Forest, North Carolina. Initially founded in 1880, this town has blossomed into one of Raleigh’s busiest and bustling cities. Wake Forest is now a city that boasts many schools from K-12, shopping, entertainment centers, old historical sites, and so …

Inflation Matches Expectations

Raleigh Mortgage GroupUncategorized

This week, investors scaled back their outlook to a slightly less aggressive pace of monetary policy tightening by global central bankers to fight inflation. As a result, mortgage rates ended the week lower. The PCE price index is the inflation indicator favored by the Fed because it adjusts for changes in consumer preferences over time. In September, core PCE was …

Home Sales Fall

Raleigh Mortgage GroupUncategorized

Central bankers around the world maintained their aggressive stance on tightening monetary policy to fight inflation this week. As a result, mortgage rates reached the highest levels in over twenty years. Hurt by higher mortgage rates, sales of existing homes fell for the eighth straight month in September to the lowest level since 2012 (excluding a brief period early in …

Why CHOOSE North Hills / Raleigh Midtown

Raleigh Mortgage GroupUncategorized

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 GroupUncategorized

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 GroupUncategorized

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 GroupUncategorized

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 GroupUncategorized

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 GroupUncategorized

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 …