This week, the focus was on Friday’s jobs report because it can affect mortgage rates.  The report showed that the number of jobs added was higher than expected, and the unemployment rate also decreased slightly to 3.7% from 3.9%. The report was good and rates went up, but not as much as the industry […]

Mortgage Rates Continue to Fall The current state of residential mortgage rates in Southern California as of December 01, 2023 shows a diverse range of rates based on different loan types, but they continue to creep down. The average rate for a 30-year mortgage has recently decreased to 7.22%, marking the lowest level in 10 […]

So, here’s the scoop on what’s been going on with the markets as of late.  After all the big economic news last week, things have kind of calmed down. The bond market’s been a bit stronger, which means the rates have dipped just a tiny bit. But honestly, they’ve pretty much been at the same […]

Mortgage Rates Stay At Recent Low Levels   The average mortgage lender remained close to their lowest levels of the past 2 months by the end of this past Friday with almost no change.  That’s a departure from the recent trend of larger movements, but also an expected shift given the absence of big-ticket economic […]

  This past week, mortgage rates were pretty steady and didn’t change as much as they did the week before. The rates usually follow the trend of 10-year Treasury yields, and that’s what we saw this time too. The big event of the week was the auction of 30-year bonds by the Treasury Department. This […]

Just a couple of weeks ago, on October 19th, the average rate for a 30-year mortgage was over 8%. At the beginning of this week, it hadn’t improved much and was at 7.92%. But things have really changed in the last three days of the week, especially from Wednesday to Friday. The rates have dropped […]