November 15, 2022

Over the past ten days we have realized a 1.0 – 1.5% decrease in mortgage interest rates on mortgages. Inflation numbers and the producer (PPI) and consumer level remain relatively high but the October numbers released were lower than forecasted expectations. This places a downward pressure on mortgage interest rates and is a positive for those consumers who are in the process of searching for a new home. While the Federal Reserve continues to provide guidance of increasing interest rates and will continue to do so albeit possibly at a slower pace.