Mortgage rates have pulled back for the third straight week, with the 30-year fixed rate mortgage rate falling to 7.44%, the lowest level since September 28. Jeff Taylor, MPhasis Digital Risk Founder, joins Yahoo Finance to discuss what rates could look like going forward.
Taylor explains a key takeaway from this drop in mortgage rates: “I think the big sort of news is look at the CPI dropping this month, we are starting to get closer to 2%, as Chairman Powell said we still have a period of time to go, and also the Fed decided obviously not to raise. So I think sort of the sentiment is okay we are not going to see another raise, inflation is starting to get better, and that’s where you sort of seen 50 basis points drop from the high of 8 down to 7.44%. I think this also will start to signal over the course of next year… we will start to see rates drop over the course of the next 6-12 months if the Fed continues to act the way that it is.”
Watch the video above to see what area of the housing industry Taylor says could provide a “win-win” for homebuyers.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb
#mortgages #realestate #youtube
About Yahoo Finance:
At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life.
Yahoo Finance Plus: With a subscription to Yahoo Finance Plus get the tools you need to invest with confidence. Discover new opportunities with expert research and investment ideas backed by technical and fundamental analysis. Optimize your trades with advanced portfolio insights, fundamental analysis, enhanced charting, and more.
To learn more about Yahoo Finance Plus please visit: https://yhoo.it/33jXYBp
Connect with Yahoo Finance:
Get the latest news: https://yhoo.it/2fGu5Bb
Find Yahoo Finance on Facebook: http://bit.ly/2A9u5Zq
Follow Yahoo Finance on Twitter: http://bit.ly/2LMgloP
Follow Yahoo Finance on Instagram: http://bit.ly/2LOpNYz
Follow Yahoo Finance Premium on Twitter: https://bit.ly/3hhcnmV
They do not mention the pain when home prices go up 40% and rates increase 100% going from 3.5% to 7.5%.
They only talk about the relief that comes when rates drop from 8% to 7.5%.
Such dishonesty.
This guy is some kind of shill. Home Affordability is at the multi-generational worst levels. There is no win-win there is only lose-lose due to multiple generations of classist economics and stratification of mobility, the same mobility which used to be the U.S.’s greatest economic strength.