Steve Cook
Since 2009, Steve has been the editor and co-publisher of RealEstateEconomyWatch.com, which was named as one of the top national news sites dedicated to residential real estate by the National Association of Real Estate Editors. Steve has represented and written about hundreds of domestic and international companies as well as foreign governments, national trade organizations and political campaigns. He has worked with many of the leading online real estate companies, including Move Inc., ForeclosureRadar, MRIS and Closing.com. Steve also served as vice president of public affairs for the National Association of Realtors. In 2006 and 2007, he was named one of the 100 most influential people in real estate by Inman News Service. He has been a broadcast news correspondent and served two members of Congress as press secretary. He is also a member of the National Philharmonic Chorale. Steve lives in Silver Spring, MD with his wife and two pugs, Jesse and Momo.
The average 30-year fixed mortgage rate declined slightly in Freddie Mac’s Primary Mortgage Market Survey for the third consecutive week. Mortgage bonds gave up a majority of their gains from earlier in the week in the face of disappointing manufacturing data. Even after equities began to sell off, mortgage bonds were not able to mount a rally.
The average 30-year fixed mortgage rate declined slightly leading up to the Thanksgiving holiday, according to Freddie Mac’s Primary Mortgage Market Survey. The average 30-year fixed rate mortgage hasn't risen above 4 percent since July, which is helping homebuyer affordability in the face of rising house prices due to low levels of inventory in many markets.
Rates were largely unchanged this week after two straight weeks of sharp increases as analyst expectations turned from world events to the Federal Open Market Committee's (FOMC) October minutes. Persistent expectations that the Federal Reserve will raise its key rate next month were
Unexpectedly strong jobs growth had a negative effect on mortgage rates this week, driving rates on fixed and adjustable loans up 6 basis points, according to Freddie Mac’s Primary Mortgage Market Survey. The report raises high expectations even higher that the Federal Reserve’s Open Market Committee will take action to increase interest rates at its December meeting.
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