Mortgage Watch Report

By Buying, Selling, Uncategorized August 24, 2022
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Mortgage Rates are surging this week.  Today’s upward pressure is being driven by HOT European Inflation Data which caused global bond yields to rise, which included US Mortgage Rates. While inflation in the U.S. has been moderating a bit recently, it has surged to record levels in Europe. The latest report from the European Union revealed a massive annual rate of increase of 8.9%, while the figures for the UK were an even higher 10.1%. Like the U.S. Fed, European Central Bank officials target an annual inflation rate of just 2.0%. Achieving this goal will be even more challenging in Europe, however, due to the steep increase in energy prices resulting from the conflict in Ukraine.

Looking ahead, investors will watch for Fed guidance on the pace of future rate hikes and bond portfolio reduction. Beyond that, New Home Sales will come out on Tuesday. Durable Orders, an important indicator of economic activity, will be released on Wednesday. The core PCE price index, the inflation indicator favored by the Fed, will come out on Friday. Fed Chair Powell is scheduled to speak at the Jackson Hole Conference on Friday as well.

 

 

 

 

 

 

 

 

 

 

 

 

 

SOURCE & AUTHOR |

Keith Murphy Branch Manager – Essex Mortgage NMLS #330827

Direct: 714-309-1140

Apply: www.GoTeamMurphy.com

About the Author
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Tim Morissette, REALTOR®

Tim Morissette, also known in the community as Mr. Foothill Ranch, offers over 46 years of real estate experience which has given him an established reputation and unmatched market knowledge. He is joined by his wife, Michele and sons Matt and Jeff, 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 26 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, paper shredding and e-waste recycling event, an Easter egg hunt, & a Meet Santa Event.

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.