Example, want to check in daily what mortgage rates are at nationwide, and why they've changed since the day prior? Here's a link you can bookmark that will always have updated rates and information as to why rates changed. Please note this is a national average not a rate quote for you :)

​When are rates going to go down? That continues (understandably) to be the most frequent question I receive. 

Quick review of the fundamentals. If you get nothing else from this email, here are the key takeaways:

1. Inflation drives mortgage rates - mortgage rates went up and stayed up as soon as inflation went up and was here to stay.

2. Every time the monthly CPI (inflation) reports come in lower than expected, mortgage rates generally go down (at least for a bit). The Fed Funds rate rising does NOT necessarily mean mortgage rates will go up.

3. We are watching two factors that have kept inflation stubbornly high: strong employment figures (historically low unemployment), and strong and rising rents (and cost of homeownership in general).

4. Rents recently have gone down big time, and the amount of new construction in the multi-family space has increased dramatically, so there is more rental inventory coming nationwide, which will further drive down rental demand / rates. Also, unemployment has been trending upward, which will likely pressure inflation to go down as well.

One theory as to why mortgage rates haven't been declining is incredibly low unemployment numbers. If unemployment is low, then employers will need to offer higher wages to attract and retain employees, which is a cost that usually gets passed on to the consumer with higher prices. Higher inflation leads to higher mortgage rates.

However, it seems we are rounding a corner with unemployment numbers, which should eventually lead to lower inflation, and lower mortgage rates!

(p.s. not that I want to celebrate that unemployment numbers are rising, because that means people are losing their jobs.)

So, what happens when mortgage rates do go down?

Buyer demand increases... a LOT. For every .5% decrease in mortgage rates, about 3 million buyers enter the market nationwide.

Here's one final note. In June, the country as a whole, year over year, saw a minor decrease in value (-.1% to be specific).

However, Wisconsin, continues to perform. Home values went UP 5.6% since last year.

Wisconsin has not had the insane price increases some hotspots in the country have seen. As a result, we continue to see steady price increases year over year, compared to much of the rest of the country.

Wisconsin was one of the top states in the country to see property value INCREASES since last year.

Any questions? Text me at 414-488-0438.