In December 1990, the national average for a 30-year fixed-rate mortgage broke below the 10% barrier for the first time since October 1974. During Paul Volcker's tenure as the Fed Chairman, rates peaked at 18.45% in October 1981 to gain control over spiraling inflation. In March 2009, rates dropped …

Conventional 30-year fixed-rate mortgages improved nearly 20 basis points yesterday to 7.62%. However, with rates touching 8% earlier in the week and no relief in sight, it is no surprise that the housing market is slowing. All three counties in Central Oregon saw inventory increases at a time of …

The seasons in Central Oregon can change quickly, and this year seems to have transitioned to cooler temperatures definitively. The housing market inventory in Deschutes County has also started the annual seasonal decline, with 846 single-family homes for sale, down fourteen from last week and sixty-two from this week …

Active listings in all three counties of Central Oregon declined this week as the seasonal reduction of available homes begins in earnest. In Deschutes County this morning, there are 860 listings, down thirty-one from last week. With the national average 30-year fixed-rate mortgage at 7.5%, it would be easy …

I recently predicted that rates would increase another 25 basis points in today's Fed meeting. However, the tea leaves point towards a hold rather than an increase. While that is excellent news for the mortgage markets, which have been relatively stable lately, there are no indications of a pivot …

While the number of homes listed for sale in all three counties of Central Oregon ticked up slightly this week, prices are also up compared to this week in 2022. The average listing price of a single-family home in Deschutes County this morning is nearly $1.1M, compared to 739k …

Much of the talk about inflation being under control is wishful thinking, and with an increase in CPI and a jump in consumer spending, I expect the Fed to raise rates 25 basis points in the September meeting later this month. I may be getting ahead of the curve …

On August 29, 2023, the national average for a fixed-rate 30-year mortgage was 6.03%. This morning, the same mortgage is 7.12%. This morning's rate is an improvement from earlier this week, but more than a point higher than last year is significant. However, the market's mood feels similar to …

At this time last year, the national average for a 30-year fixed-rate mortgage was 5.77%, on its way to a peak of 7.24% in mid-October. On this Wednesday last August, there were 928 single-family homes listed in Deschutes County, down slightly from peak 2022 at 972 on August 10. …

Pending sales in Central Oregon last week were robust despite the national average for a 30-year fixed-rate mortgage hitting 7.26% yesterday, the highest since the rate increases began in 2022. Inventory was flat in Deschutes County at 865 homes listed, up two in Crook County at 156, and up …