Archives February 2023

MBS Road Signs 2-13-23

Week of February 6, 2023 in Review

News on home price appreciation, mixed auction results, and tough talk from central banks around the world highlighted an otherwise quiet week:

Does the Future Look Good for Home Prices?

CoreLogic’s Home Price Index showed that home prices nationwide fell by 0.4% from November to December but they were 6.9% higher when compared to December of 2021. This annual appreciation reading declined from 8.6% in November but is still solid. CoreLogic forecasts that home prices will drop 0.2% in January but rise 3% in the year going forward.

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MBS Road Signs 2-6-23

Week of January 30, 2023 in Review

The Fed hiked its benchmark Fed Funds Rate, while there’s more to January’s job data than the headlines suggest. Plus, find out what the latest news on home price appreciation really means, all ahead in these stories:

Are More Fed Rate Hikes Ahead This Year?

As expected, the Fed hiked its benchmark Fed Funds Rate by 25 basis points at its meeting last Wednesday. The Fed has now hiked the Fed Funds Rate eight times since last March, bringing it to a range of 4.5% to 4.75%. The Fed Funds Rate is the interest rate for overnight borrowing for banks and it is not the same as mortgage rates. When the Fed hikes the Fed Funds Rate, they are trying to slow the economy and curb inflation.

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