DOOM OR BOOM - Rising Interest Rates Are Impacting Home Buyers Mortgage rates are rushing higher, and last week that caused a major divergence in mortgage demand. Refinancing continued to dry up, but homebuyers appear to be rushing into the market. As a result, total mortgage application volume rose 2.3% compared with the previous week, according to the Mortgage Bankers Association. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 3.64% from 3.52%, with points remaining unchanged at 0.45 for loans with a 20% down payment. That rate was 72 basis points higher than the same week one year ago and has increased more than 30 basis points in just the last two weeks. Each week I'll break down the Market Matters that comes from C.A.R. (California Association of REALTORS®). I'll go over all of the articles they share, with my own opinions thrown in. Please email ([email protected]) or comment below with any questions you'd like answered. Ron Evans Amy Sims Real Estate Team DRE: 01965556 #inflation #mortgageinterestrates #realestatemarketupdate #realestatemarketstats #carealtor #coordinators #transactioncoordinators #realestatemarkets #realestatemarketingagency #justclosed #realestatemarketinrealestatemarketing #marketupdate #transactioncoordinator #realestatemarketingvideos #realestatemarketingexpert #californiarealestate #realestatemarket #realestatemarketing101 #realestatemarketingsolutions #realestatemarketingideas #realestatemarketingspecialists #realestatetips #buyer #realestateexperts #seller #realestatemarketingtips #businessowners #broker #realestate #realtor #realestateinvesting #realestateagent #mortgagerates #firstimehomebuyermistakes #cnn #housingwire #cnbc