weekly mortgage market update

Welcome to the Weekly Mortgage Market Update! This is your go-to source for the latest news, trends, and insights on the ever-evolving world of mortgages. Whether you’re a first-time homebuyer or a seasoned real estate investor, staying informed about the mortgage market is crucial to making wise financial decisions. Every week, we’ll provide a comprehensive overview of the most critical developments in the mortgage industry, including changes in interest rates, mortgage products, and housing market conditions.

September Home Prices Fall at a Slower Pace than July/August

Black Night said home prices fell at half the rate in July and August. Black Night is a leading provider of data and analytic solutions in the mortgage industry. FHFA’s report will be released at the end of the month, hopefully providing some confirmation on home price decreases leveling off.

Consumer Prices Rose 0.4% in October, Less Than Expected, as Inflation Eases

Although inflation remains a threat to the U.S. economy, the consumer price index (CPI) climbed less than predicted in October, suggesting that pressures may be beginning to ease. This also led to a massive bond rally and brought interest rates down by .62%! It was the biggest rally in over a decade. For those of you currently in the market for a home, it is a good time to lock in an interest rate.

Kahiko private housing community in Kapolei.Next week’s potential market-moving reports are:

  • Monday, November 14th – NY Fed 1-year Inflation Expectations
  • Tuesday, November 15th – Real Household Debt, Real Mortgage Debt
  • Wednesday, November 16th – NAHB Home Builders’ Index, Business Inventories
  • Thursday, November 17th – Initial Jobless Claims, Building Permits, and Housing Starts
  • Friday, November 18th – Existing Home Sales, Leading Economic Indicators

As your Oahu mortgage professional, I am happy to assist you with any information you may need regarding Hawaii mortgage or real estate trends or to provide you with a second opinion. Contact Elias Halvorson today!