farther farther… one for distance and the other for “extra/extra”. The dictionary may vary, but only because many of you have misused “more” over the years. Let’s talk about that no more… How about those mortgage rates? What a difference 4 days makes! Last Friday, the average lender was about as close to the “mid-70s” as it was at the peak of 2022. Now, mid-to-upper 6 pictures are back in fashion when it comes to traditional fixed 30-year scenarios. And by the way, the widely cited weekly price poll by Freddie Mac is also in the top 6 as of today’s release, but it does point to a massive increase over the course of the week when in fact the opposite is true. Freddy’s rates are averaged 5 days to Thursday while our index is updated daily based on the current day’s rates. In other words, Freddy is still buzzing about last week’s rally while we’re here to tell you that he’s already been wiped out. And whether or not prices fall will depend more on whether there is additional evidence of declining inflation pressures, as we have seen in economic data this week.
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