Jake Davis

Just another WordPress site

MENUMENU
  • Home
  • My Listings
  • Sellers
  • Buyers
  • About
  • Contact
  • News
MENUMENU
  • Home
  • My Listings
  • Sellers
  • Buyers
  • About
  • Contact
  • News

Mortgage Rates Inch Up

January 5, 2023 by Jake Davis

January 5, 2023
Mortgage application activity sunk to a quarter century low this week as high mortgage rates continue to weaken the housing market. While mortgage market activity has significantly shrunk over the last year, inflationary pressures are easing and should lead to lower mortgage rates in 2023. Homebuyers are waiting for rates to decrease more significantly, and when they do, a strong job market and a large demographic tailwind of Millennial renters will provide support to the purchase market. Moreover, if rates continue to decline, borrowers who purchased in the last year will have opportunities to refinance into lower rates.

Information provided by Freddie Mac.

Filed Under: St Paul Pioneer Press

  • Calculators
  • Finding A Loan Officer
  • The Loan Process
  • Mortgage Glossary
  • Markets Updates
  • Schools
  • Area Links
Realtor & Housing

Licensed In Minnesota

All information deemed reliable but not guaranteed and should be independently verified.



Powered by WordPress | © MSLLC