P. Thomas Fenelle Mortgage Lender NMLS #2006879

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗔𝘂𝗴𝘂𝘀𝘁 𝟬𝟭, 𝟮𝟬𝟮𝟮

𝗥𝗲𝗰𝗮𝗽 𝗼𝗳 𝗹𝗮𝘀𝘁 𝘄𝗲𝗲𝗸: 𝗥𝗮𝘁𝗲𝘀 𝗶𝗺𝗽𝗿𝗼𝘃𝗲𝗱 👍
Average mortgage rates improved once again last week despite a strong inflation reading on Friday, as fears of recession outweighed fears of inflation. The Fed raised the fed funds rate .75%, but that doesn't raise mortgage rates. Mortgage rates actually improved on the news, because of the Fed's strong moves to fight inflation.

𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝗰𝗼𝘂𝗹𝗱 𝗶𝗺𝗽𝗿𝗼𝘃𝗲 𝗳𝘂𝗿𝘁𝗵𝗲𝗿 👍
As the week starts, it looks like mortgage rates are poised to improve further as recent economic data shows that the aggressive Fed rate hikes have started to slow the economy, which should help curb inflation. There is speculation that runaway inflation has now peaked, and we could be seeing a tipping point where rates may move lower in August than what we averaged in July.

🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Economic data: A quiet week for data that will have a strong impact on mortgage rates, other than Friday's jobs data. If the jobs data shows the labor market is softening, it could help rates improve. A strong showing though could be bad for mortgage rates in the short term.
- Fed speakers: As different Fed members speak this week, we could see rates react to speculation of future Fed actions.

MBA: Mortgage Applications Decline for Second Straight Week - Appraisal Buzz Mortgage applications has decreased 1.7% on a seasonally adjusted basis from one week earlier, according to Market Composite Index data from the Mortgage Bankers Association’s…

"𝗪𝗵𝗮𝘁 𝗶𝘀 𝘁𝗵𝗲 𝗱𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝗰𝗲 𝗯𝗲𝘁𝘄𝗲𝗲𝗻 𝘁𝗵𝗲 𝗔𝗣𝗥 𝗮𝗻𝗱 𝘁𝗵𝗲 𝗶𝗻𝘁𝗲𝗿𝗲𝘀𝘁 𝗿𝗮𝘁𝗲?" 🤔

👉 Answer: One of the most confusing aspects of a mortgage is trying to compare interest rates and APRs. Here is a simple explanation to make it easy for you to get a low rate mortgage without the hassle.

The interest rate is only the interest that you will pay on the mortgage. Mortgage interest rates are often quoted in .125% increments.

The APR is a calculation designed to more easily compare mortgage offers. It includes the interest rate above, PLUS other fees and costs such as: lender fees, origination fees, discount points, and some closing costs. Some banks and lenders will change what they call certain fees to avoid having to include them in the APR calculation, making it even harder to compare. An APR is required anytime a bank or lender advertises an interest rate, to help get a more accurate comparison. The interest rate and the APR should never be exactly the same unless there are no fees on the loan.

🏡 𝗜𝗳 𝘆𝗼𝘂'𝗿𝗲 𝗹𝗼𝗼𝗸𝗶𝗻𝗴 𝘁𝗼 𝗴𝗲𝘁 𝗮 𝗹𝗼𝘄 𝗿𝗮𝘁𝗲 𝗮𝗻𝗱 𝘁𝗮𝗸𝗲 𝘁𝗵𝗲 𝗵𝗮𝘀𝘀𝗹𝗲 𝗼𝘂𝘁 𝗼𝗳 𝘁𝗵𝗲 𝗽𝗿𝗼𝗰𝗲𝘀𝘀, 𝗜 𝗰𝗮𝗻 𝗵𝗲𝗹𝗽. A quick and easy conversation can help make sense of it all, and I can show you how to make sure you're getting a good mortgage offer.

Getting a mortgage doesn't have to be a hassle. Let me make it easy.

https://www.inman.com/2022/07/22/sellers-market-buyers-market-the-pendulum-is-swinging/

Seller's market? Buyer's market? The pendulum is swinging Homes are still selling, but the ongoing market shift is giving homebuyers more and more leverage everyday, agents and economists told Inman.

https://patch.com/pennsylvania/across-pa/pennsylvania-ranks-17-among-america-s-top-states-business-cnbc

Pennsylvania Ranks 17 Among America’s Top States For Business: CNBC The Keystone State received top ranking in the education and technology & innovation categories.

https://www.businessinsider.com/next-housing-market-price-crash-too-many-homes-real-estate-2022-6

The housing market's next big crisis: too many homes Slowing population growth and a surge in new construction will eventually cause a big, new problem for America's housing market: too many homes.

🏡 Majority of Top Economists Do Not Believe We’re in a Housing Bubble!!



🏡 Zillow and Pulsenomics released their Home Price Expectations Survey for the second quarter. This survey, which is released each quarter, asks a distinguished panel of over 100 economists, investment strategists and housing market analysts about their 5-year expectations for future home prices in the United States.

🏡 Of the 114 economists surveyed this time, participants said they expect home prices to appreciate 4.8% on average per year over the next 5 years. Cumulatively, they expect over 26% appreciation through 2026.

🏡 What’s the bottom line? Respondents were also asked, “Do you believe the U.S. housing market is currently in a bubble?” Of the 98 respondents with an opinion on the question, 65% answered “No.” Some of the reasons provided for this belief included continued low housing inventory, recent price growth caused by fundamentals like demographics and shifting housing preferences, rising rents, the work-from-home revolution and high homeowner equity. So while it may not be easy to buy a home right now, it should still be a smart financial decision.

https://crosscountrymortgage.com/Navigating-Hot-Homebuying-Market/

Navigating a Hot Homebuying Market | CrossCountry Mortgage Want to learn how to navigate through the hot homebuying market this summer? We've created a list of things you should consider beforehand based on recent trends.

https://www.forbes.com/sites/petertaylor/2022/05/24/the-cost-of-purchasing-a-home-in-the-us-increased-55-last-year-but-its-still-a-great-time-to-buy-a-house-for-these-five-reasons/

The Cost Of Purchasing A Home In The U.S. Increased 55% Last Year. But It’s Still A Great Time To Buy A House For These Five Reasons U.S. home values in 2021 increased faster than any time in history due to COVID and a generational housing supply shortage. But it's still a great time to invest in the American Dream of homeownership. Here are 5 reasons why

https://fortune.com/2022/06/07/housing-market-inventory-levels-are-rising-again-breakdown-in-americas-400-largest-markets/

How fast your local housing market is adding inventory amid the Great Deceleration, as told by one interactive chart As mortgage rates approached 5% this spring, inventory levels began to rise.

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗔𝗽𝗿𝗶𝗹 𝟮𝟱, 𝟮𝟬𝟮𝟮

𝗥𝗲𝗰𝗮𝗽 𝗼𝗳 𝗹𝗮𝘀𝘁 𝘄𝗲𝗲𝗸: 𝗥𝗮𝘁𝗲𝘀 𝗮 𝗹𝗶𝘁𝘁𝗹𝗲 𝗵𝗶𝗴𝗵𝗲𝗿 👎
Although mortgage rates did end the week slightly higher, we're seeing signs that rates are stabilizing. Last week's moves were mainly due to markets reacting to the idea that the Fed would need to raise policy rates higher and sooner to get inflation under control.

𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝗺𝗮𝘆 𝘀𝘁𝗶𝗹𝗹 𝗰𝗿𝗲𝗲𝗽 𝗵𝗶𝗴𝗵𝗲𝗿 👎
It is looking like mortgage rates could improve a bit to begin the week, as the underlying market that rates are based on starts the week with some gains. However, it is important to realize that any improvements will be small and likely short lived, as rates are still trending higher. Although we could see rates creep up in smaller increments, we are still likely to see at least slightly higher rates as we head into May.

🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Economic data: A full slate of data, including some housing data and a few Treasury auctions, but not likely much to pressure rates this week.
- Supply chain concerns: China has locked down over 25 million people due to a coronavirus outbreak, some for 3 weeks already, sparking fears of a supply chain crisis since products cannot be manufactured or shipped. This would add to current inflation problems, and pressure mortgage rates higher.

https://fortune.com/2022/04/14/housing-market-crash-2022-predictions-charts/

3 charts show why the housing market won’t crash anytime soon If you’re waiting for another housing market crash to buy in at lower prices, you’ll likely be waiting for a very long time.

https://fortune.com/2022/04/20/soaring-mortgage-rates-could-cool-the-housing-market-some-by-summer-2022/

The economic shock hitting the housing market continues to grow—but where it'll take us remains uncertain Economists would like to see spiking mortgage rates rein in the housing market. They might get their wish this summer.

https://www.realtor.com/research/weekly-housing-trends-view-data-week-apr-23-2022/

Weekly Housing Trends View — Data Week Ending April 23, 2022 Home price growth picked up as many buyers may not be fully aware of how the surge in mortgage rates and home prices has impacted their home shopping budgets. As we move into the heart of selling season, the number of new listings increased. This combo has helped diminish the declines in the number....

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Our FastTrack gives you a competitive advantage by offering a loan commitment before the buyer makes an offer.
BEFORE THEY FIND A HOME!

https://www.communitynews.org/towns/west-windsor-plainsboro-news/expert-gives-his-perspective-on-the-residential-real-estate-market/article_52a80bd0-afa4-11ec-8e12-ebd2b5b09a30.html

Expert gives his perspective on the residential real estate market Understanding the central New Jersey residential market as it continues to fluctuate, more so than before because of the Covid-19 pandemic, is no small task.

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗔𝗽𝗿𝗶𝗹 𝟭𝟭, 𝟮𝟬𝟮𝟮

𝗥𝗲𝗰𝗮𝗽 𝗼𝗳 𝗹𝗮𝘀𝘁 𝘄𝗲𝗲𝗸: 𝗥𝗮𝘁𝗲𝘀 𝘀𝗹𝗶𝗴𝗵𝘁𝗹𝘆 𝘄𝗼𝗿𝘀𝗲 👎
After a brief pause the previous week rates moved higher once again, this time because of Fed comments that it will be more aggressive in trying to reign in inflation. The moves the Fed would make to get inflation under control will slow down the economy and push consumer rates higher, so mortgage rates are reacting by moving higher.

𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝗰𝗼𝘂𝗹𝗱 𝗿𝗶𝘀𝗲 👎
Mortgage rates have been steadily rising since the beginning of the year, and that trend doesn't look ready to end this week. With a full week of economic data ahead of an early close for the Easter holiday, we could see volatility but ultimately are likely to see rates continue to worsen heading into next week. Be sure to stay in touch with your mortgage professional.

🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Economic data: Lots of data this week including consumer and wholesale inflation data and retail sales reports, plus overseas central bank meetings and a few Treasury auctions. Any of these could affect rates this week.
- Fed speakers: Multiple Fed officials will be speaking this week, and their comments could affect rates.
- Easter holiday: Bond markets will be closed early Thursday and all day Friday in observance of Good Friday.

https://www.marketwatch.com/picks/what-will-happen-to-mortgage-rates-in-2022-according-to-5-economists-and-real-estate-pros-01646252592

5 economists and real estate pros share what will happen to mortgage rates in 2022 Experts weigh in on what might happen to mortgage rates this year.

https://www.nj.com/business/2022/03/how-much-does-it-cost-to-own-a-home-in-the-us.html

The median price to own a home in the U.S. has hit an all-time high The median price of a home in the U.S. skyrocketed to a record $392,000 in February, according to a report from Realtor.com.

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗙𝗲𝗯𝗿𝘂𝗮𝗿𝘆 𝟮𝟴, 𝟮𝟬𝟮𝟮

𝗥𝗲𝗰𝗮𝗽 𝗼𝗳 𝗹𝗮𝘀𝘁 𝘄𝗲𝗲𝗸: 𝗥𝗮𝘁𝗲𝘀 𝘂𝗻𝗰𝗵𝗮𝗻𝗴𝗲𝗱 👍
Average mortgage rates were worse to start the week after a 3-day weekend, but ended the week nearly unchanged after geopolitical concerns caused by the Russian invasion of Ukraine caused investors to seek safety in bonds, which normally helps mortgage rates.

𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝗰𝗼𝘂𝗹𝗱 𝗶𝗺𝗽𝗿𝗼𝘃𝗲 𝘀𝗹𝗶𝗴𝗵𝘁𝗹𝘆 👍
Mortgage rates are not likely to improve much, but could improve slightly this week from concerns about the sanctions imposed against Russia for invading Ukraine. Investors are worried that sanctions could affect the global economy, especially Europe's economy, which relies on Russian energy. Expectations of a Fed policy rate increase in March still remain, although markets now believe the Fed will only raise rates a quarter percent rather than the previously expected half point.

🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Economic data: A full week of data, but Friday's jobs data has the most potential to affect rates.
- The Fed: Mortgage rates may be helped this week by expectations of a smaller rate hike at the March Fed meeting.
- Russia/Ukraine: Russia has now invaded Ukraine, and continued pressure from western nations to retreat could help mortgage rates improve slightly.

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🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗝𝗮𝗻𝘂𝗮𝗿𝘆 𝟭𝟬, 𝟮𝟬𝟮𝟮
𝗥𝗲𝗰𝗮𝗽 𝗼𝗳 𝗹𝗮𝘀𝘁 𝘄𝗲𝗲𝗸: 𝗥𝗮𝘁𝗲𝘀 𝗺𝗼𝘃𝗲𝗱 𝗵𝗶𝗴𝗵𝗲𝗿 👎
Mortgage rates moved higher last week, in one of the bigger moves we've seen for rates in quite awhile and much faster than expected. This was due to investors returning from the end of year holidays to renewed inflation concerns and expectations that the Fed may raise rates sooner due to comments in last month's Fed meeting minutes.
𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝗰𝗼𝘂𝗹𝗱 𝗰𝗼𝗻𝘁𝗶𝗻𝘂𝗲 𝘁𝗼 𝗺𝗼𝘃𝗲 𝗵𝗶𝗴𝗵𝗲𝗿 👎
Average mortgage rates could unfortunately continue to worsen this week, as investors try to stay ahead of the coming Fed rate increases and react to data showing inflation is still a problem. Although rates are moving higher, they remain near historic lows and it is still a great time to buy a home or consider refinancing for many homeowners.
🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Economic data: Consumer and wholesale inflation data this week could contribute to rates creeping higher. Treasury auctions could also cause some rate movement this week, depending on investor demand.
- The Fed: Speculation the Fed may raise policy rates as soon as March's meeting, and comments in last month's meeting minutes that the Fed will take steps to reduce balance sheet holdings could pressure rates higher this week.

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[3:46 PM] Jim DeStefano
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🏡 "𝗛𝗼𝘄 𝗺𝘂𝗰𝗵 𝗵𝗼𝘂𝘀𝗲 𝗰𝗮𝗻 𝗜 𝗮𝗳𝗳𝗼𝗿𝗱?" 🤔

If you're considering buying a home, this is probably one of the first questions you'll ask. And while a mortgage calculator can give you a rough estimate, it can't tell you what interest rate you'll qualify for or provide you with the range of options that may be available.

💰💵 Finding an accurate number for how much house you'll qualify for, AND what you can comfortably afford, can be made much easier with guidance from a mortgage professional like me. I can help you understand what you qualify for, discuss what kind of payment you're comfortable with, compare loan programs, and then help you get a low rate while making the whole process convenient.

👍𝗬𝗼𝘂 𝗰𝗮𝗻 𝗰𝗼𝗻𝘁𝗮𝗰𝘁 𝗺𝗲 𝗮𝗻𝘆𝘁𝗶𝗺𝗲 𝗳𝗼𝗿 𝗮 𝗳𝗿𝗲𝗲, 𝗻𝗼 𝗼𝗯𝗹𝗶𝗴𝗮𝘁𝗶𝗼𝗻 𝗰𝗼𝗻𝘃𝗲𝗿𝘀𝗮𝘁𝗶𝗼𝗻 𝗮𝗯𝗼𝘂𝘁 𝗯𝘂𝘆𝗶𝗻𝗴 𝗮 𝗵𝗼𝗺𝗲 𝗮𝗻𝗱 𝗵𝗼𝘄 𝗺𝘂𝗰𝗵 𝗵𝗼𝘂𝘀𝗲 𝘆𝗼𝘂 𝗰𝗮𝗻 𝗮𝗳𝗳𝗼𝗿𝗱. Go ahead and check out my reviews to see what others have to say about how I helped them. ⭐⭐⭐⭐⭐

Why not reach out to me, knowing you won't get any sales pitch or be pressured to take any action? I'm simply here to help! 🙌

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗡𝗼𝘃𝗲𝗺𝗯𝗲𝗿 𝟴𝘁𝗵, 𝟮𝟬𝟮𝟭

𝗥𝗲𝗰𝗮𝗽 𝗼𝗳 𝗹𝗮𝘀𝘁 𝘄𝗲𝗲𝗸: 𝗥𝗮𝘁𝗲𝘀 𝘀𝗹𝗶𝗴𝗵𝘁𝗹𝘆 𝗯𝗲𝘁𝘁𝗲𝗿 👍
Average mortgage rates ended last week slightly better, with most of the gains coming on Friday. Wednesday saw some volatility after the Fed meeting and press conference, as we expected, but Friday's improvement to rates despite strong jobs data was a surprise.

𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝘀𝗵𝗼𝘂𝗹𝗱 𝗿𝗲𝗺𝗮𝗶𝗻 𝗹𝗼𝘄 👍
Average mortgage rates are not likely to improve much, but should remain low this week. Wednesday could see rates move depending on the inflation data that comes in, and the bond market (and most lenders) will be closed on Thursday to observe Veterans Day.

🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Economic data: Consumer and wholesale inflation data comes out the middle of this week, and along with a couple of Treasury auctions could case rates to move slightly from day to day.
- Fed stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping keep mortgage rates low. Markets are now prepared for the Fed to begin reducing bond purchases in November, and to continue reducing them into 2022.
- Veterans Day: Bond markets will be closed on Thursday, and most lenders won't issue new rates that day. You can check with your mortgage professional to find out if they will.