Where did mortgage rates end last week? What’s ahead?

couple planning finances | mortgage rate news

Where did mortgage rates end the week?

The national average for a 30-year, fixed-rate mortgage ended the week at 6.15%. That’s up 0.04% from Thursday, but down almost 0.40% from the start of the New Year. The small move upward was driven by a retreat in the bond market on Friday.

The mortgage rate market is likely looking ahead to the Federal Reserve announcement at the end of the month, and should continue the sideways action unless a major event moves the market.

What’s on the schedule for this week?

The economic calendar for the week of January 23rd features the following expected announcements:

Monday, January 23rd

Leading economic indicators released for December 2022

Tuesday, January 24th

S&P U.S. Manufacturing & Services PMI for January 2023

Wednesday, January 25th

No announcements scheduled

Thursday, January 26th

Initial & Continuing Jobless Claims
Real GDP, first estimate for Q4 2022
Real final sales to domestic purchasers, first estimate Q4 2022
New home sales for December 2022
Chicago Fed national activity index for December 2022

Friday, January 27th

Real disposable incomes & consumer spending for December 2022
PCE Price Index & Core PCE Price Index for December 2022 (monthly & year-over-year)
UMich consumer sentiment index for January 2023
UMich 1-year & 5-year inflation expectations for January 2023
Pending Home Sales for December 2022

What are the top 5 doable home projects?

Every homeowner dreams of renovating their home and doing the work themselves. However, not everyone has the skills or patience to accomplish a major home improvement project. The team at Realtor.com has identified the top five home improvement projects that just about anyone can accomplish.

Key highlights included building a professional work station, swapping out plumbing fixtures, adding programmable thermostats, and gardening.

If you have a bigger project in mind, you can always look into getting a home equity loan or line of credit, and hiring professionals to truly take your home to the next level.

in 10 minutes?

The pre-approval process is lightning fast, and can be completed
in under 10 minutes. Grab a few important documents to get started.
  1. Tax Returns
  2. Copies of W-2s (or 1099s for independent contractors,
    freelancers and the self-employed)
  3. A payroll stub
  4. A bank statement
  5. Loan obligation info (student loans,
    auto loans and credit cards)

Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply. 

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