Where are mortgage rates after the Christmas holiday?

House at Christmas time with candles in windows and wreath on door | mortgage rate news

Did mortgage rates move after the holiday?

The national average 30-year, fixed-rate mortgage rate was down 0.01% to 6.67%* yesterday. Tuesday was the quietest trading days of the year and saw very little movement and volume in the bond market. In turn, mortgage rates also barely moved. There was no reaction to home price data and the market chopped for most of the day.

There’s a non-zero chance that we’ll spend most of this week in this range unless a major event causes movement.

Which Bay Area housing market could see prices drop?

According to a recent article with data from a major real estate firm showed that the San Jose market is predicted to see a sharper drop in 2024 than most other major metro areas in the U.S.

The prediction states that San Jose will see close to a 6.1% drop year-over-year by the end of 2024. The key driver of the dip isn’t a sell off, but a lack of inventory and mortgage rates that are still a bit too high for homebuyers to want to take a mortgage on a million dollar home.

Nicole Bachaud, a senior economist, stated, “There are no indications rates will fall significantly, and a 6.5% rate is still a very expensive mortgage on million-dollar homes.”

Kansas wins 2023 Guaranteed Rate Bowl

Last night’s Guaranteed Rate Bowl saw its share of fireworks with the Kansas Jayhawks outlasted the UNLV Rebels by a score of 49-to-36.

Kansas quarterback Jason Bean threw for 449 yards and six touchdowns to dot the exclamation point on his college career. Kansas wide receiver Luke Grimm hauled in four passes, three for touchdowns, and racked up 160 yards. UNLV quarterback Jayden Maiava threw for 291 yards on 24-for-35 passing with three touchdowns.

Guaranteed Rate sponsored the event, and it was clear that the new Rate App was also one of the stars of the evening. The new app is designed to not only help users secure a mortgage, but also care for their mental and physical health with courses and videos from health and fitness professionals.

* National average rates accurate as of 12/26/23 from MortgageNewsDaily.com and are not advertised rates from Guaranteed Rate.

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. 

All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Guaranteed Rate does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error-free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Guaranteed Rate. Guaranteed Rate its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action.