MORTGAGE WATCH 3/25/22

Mortgage Rate continue going higher daily. The yield on the 10yr Treasury (closing moves with mortgage rates) jumped this morning to 2.50%. MBS had yet another gap down in price and slid through yet another support level (see chart below and notice we have lost 550 basis points in 180 days!)

We currently in an environment unlike anything we have ever seen before!! We have a gas crisis like the 70’s, inflation of the 80’s, a stock market correction like the late 90’s and housing affordability nose diving like we had in the early 2000’s. All of these independent events up until now have been unprecedented. Now they are all occurring at the same time. Nobody can know for certain what the FED is going to have to do to rates to stop inflation. Now add to all of this….Putin. Hold on tight and stay focused on what you can control!

 

About the Author

Tim Morissette, also known in the community as Mr. Foothill Ranch, offers over 43 years of real estate experience which has given him an established reputation and unmatched market knowledge. He is joined by his wife, Michele and son Matt, as they continue to offer personal service with an emphasis on achieving his clients’ real estate goals.  This unique combination of traits has led to his proven track record of referral and repeat business. This can be witnessed by the trust of homeowners in Foothill Ranch where he has sold twice as many homes and represented three times more buyers than the next-leading real estate agent for the last 23 years.

As residents of Foothill Ranch since 1994, Tim and Michele are actively involved in the community by fundraising for Foothill Ranch Library, Make-a-Wish Foundation, Cancer Society, Homes for Habitat, Relay for Life, South County Outreach, and the local church and schools. Tim enjoys sponsoring community-wide garage sales, as well as sponsors Paper Shredding and E-Waste Recycling events twice a year.

Tim and Michele are dedicated to their family of four sons, daughter-in-laws, and grandchildren. As a family, they enjoy many outdoor activities which include camping, spearfishing, mountain climbing and exploring the miles of hiking and equestrian trails in Foothill Ranch and the Whiting Ranch Wilderness Park. Tim and his sons are also avid snowboarders and enjoy mountain biking and lobster diving. Family is a top priority in the Morissette household. They look forward to helping more families achieve their dreams of homeownership.