Blog | Emerald Home Loans

EHL's Market Minute - Rates made a move

Written by Emerald Home Loans | Jan 7, 2022 2:01:29 PM

  • In last month's meeting minutes, the Fed said a strengthening economy and higher inflation could lead to earlier and faster policy rate increases.
  • A record 4.5 million workers quit their jobs in November as workers looked for better jobs and wages. Job openings declined to 10.6 million.
  • Private job growth totaled 807K in December according to ADP, surpassing the Dow Jones estimate of 375K and November’s 505K gain.

 

  • Mortgage rates crept up this week, hitting a 9-month high. However, rates are still very low when compared historically.
  • Total mortgage applications fell by 2.7% on a seasonally adjusted basis during the holiday week. Purchase apps were down 4%, while refi apps dropped 2%.
  • The FHFA announced upfront fee increases for second-home and high-balance loans beginning on April 1.