Portland Mortgage Market Update — December 29, 2023

It was a quiet week between Christmas and New Years. No real "market-moving" data was released so rates were stable to slightly improved all week. Next week brings more employment figures that will influence the Fed's future decisions and should provide more insight as to when the rate cuts might actually start happening.

How would you like to get your clients rates in the 4% range? This week I priced out a 2/1 buy down scenario for one of my clients with a note rate of 6.875% which puts their start rate at 4.875% for the first year! This is a great way to spark interest in buyers that are sitting on the fence right now and waiting to dip back into the market.

Have a safe and Happy New Year! I for one am looking forward to saying "good riddance" to 2023 and am very excited for what 2024 has to offer. I anticipate it being a much busier business year and look forward to sharing with you!