Is Now The Time To Buy? Homebuyer’s Mortgage Watch – June 19, 2022

To find out if now is the time to buy, check out this week's mortgage highlights:
(For more in-depth info about the market, click here!

Last Monday, leaks began to flow from the Federal Reserve, preparing the market for the largest rate increase in 28 years.
With the leaks already moving the market, the Fed announcement of a 75-basis point increase was less of a jolt on Wednesday.
All interest rates climbed during the week as traders digested the Fed’s more aggressive stance.
The Fed’s dot plots and the Fed Chair’s press conference made it clear that more large rate increases are likely this year.
Many factors have converged to drive prices higher, and while a few months ago there was some hope that we’d see inflation moderating without massive intervention, those hopes are all but gone.
In addition to the rate increases, the Fed is actively trimming its balance sheet and trying to engineer a rare “soft landing” for the economy.
Rates are unlikely to climb much this week, as they generally overshoot the mark and then settle slightly after a big jump.
But, these aren’t normal times. Multiple Fed members have appearances this week, and if they sound more hawkish than anticipated, rates could move upward some more.

Homebuyer Assistance? Yes, It’s Still Out There

As the housing marketing blazed along over these last few years, potential homebuyers who were not cash buyers often felt discouraged. Many who wanted to purchase a home didn’t even explore their options, especially if they didn’t have a huge down payment sitting in the bank. However, many programs exist to help would-be homebuyers.

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