If you're a Fed watcher, or just watching interest rates, a lot has happened since Friday! That's when markets started reacting to the rise of the Omicron variant and the likelihood and timing of interest rate hikes became much harder to predict.
If you're a Fed watcher, or just watching interest rates, a lot has happened since Friday! That's when markets started reacting to the rise of the Omicron variant and the likelihood and timing of interest rate hikes became much harder to predict.
Our Lead Analyst Logan Mohtashami wrote an article on the topic — Will Omicron variant stop first Fed rate hike? — that outlines how he's looking at the economic data and what he expects as far as mortgage rates for this month and into 2022.
Logan and I also discussed these topics on our weekly podcast today, including what Fed Chair Powell said on the subject in front of Congress this morning. Every week I'll be asking Logan to recap the latest economic news and how that news translates to housing. As always, he provides a high-energy take on all things housing that you don't want to miss!
In other news, the FHFA today announced the new conforming loan limits for the GSEs, which increased 18% for the baseline conforming limit. In high-cost areas, the new limit is now within spitting distance of $1 million, reflecting the historic run-up of home prices in every state and metro during the third quarter, also reported today. Read all about that below.
The FHFA today announced the baseline conforming loan limit for 2022 will be $647,200, an increase of 18%. In high-cost areas, the new ceiling loan limit will be $970,800.
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A pair of lawsuits on behalf of Zillow investors cite rosy claims by company executives about its now-dead iBuying program as illegally misleading investors.
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