Home / D.C. Aiken / Articles by D.C. Aiken

Articles by D.C. Aiken

Market Insights from D.C. Aiken

My Old School

The 1973 hit song “My Old School” by Steely Dan references never returning to my old school and mentions where I went to undergrad at the College of William & Mary. Many of you may not be going back to your old school, but many of your…
Market Insights from D.C. Aiken

Groundhog Day?

Since we are in February and we just recently went through “Groundhog Day,” I thought that maybe Punxsutawney Phil and our Warriors of Wall Street might have something in common in predicting 6 more weeks of winter and possibly 6 more weeks…
Market Insights from D.C. Aiken

Refinances Move Sharply Higher?

Refinances moved exceptionally higher this week as more and more folks are looking to giving up their below 4% mortgage rates in exchange for high 6% mortgage rates to pay off their accumulated debt. On the surface, this sounds crazy, but is…
Market Insights from D.C. Aiken

Gimme Shelter

The Hit song “Gimme Shelter” by the Rolling Stones in 1969 has many similarities to our current 2024. Political tensions both abroad and at home are on the rise. The “millennials” and “Gen Z” folks are getting squeezed out of the…
Market Insights from D.C. Aiken

Rates Are Projected to Go Down, But Waiting to Buy Could Cost You

Last week, Fannie Mae came out with their projections that 30-year fixed rates would fall below the magical 6% mark later in 2024. Their projections pretty much validated my projections of rates breaching below 6% this year and heading into…
Market Insights from D.C. Aiken

It’s That Time of Year… Time for My 2024 Predictions!

You can’t write about the economy and interest rates without having predictions for the year, so here we go! Oil Prices: I believe we will continue to see oil prices fall during the year as demand for oil will continue to fall due to lower…
Market Insights from D.C. Aiken

Inflation Numbers Come in Slightly Higher Than Expected

The Consumer Price Index (CPI) measures inflation on the consumer level, increased by 0.3% month-over-month, which was higher than expectations of 0.2%, and increased 0.3% to 3.4% year over year, above estimates of 3.2%. The Core CPI Rate, which…
Market Insights from D.C. Aiken

“Tell me lies, tell me sweet little lies”

The 1987 Fleetwood Mac chart-topper, “Little Lies,” reminds me of some of the things I am seeing out there when it comes to mortgage quotes from lenders. Take this week as an example; I had a client get quoted on a conventional loan with…
Market Insights from D.C. Aiken

Rates Need to Move a Bit Lower Before We See a Notable Pick-up in Home Purchases

We have certainly come a long way since Halloween, when 30-year fixed rates were pushing the 8% mark. Rates have rallied quite a bit, almost 1.5% lower, but we most likely will need to see them move even lower before we get a notable uptick…

Go Home, Mr. Grinch… Christmas is Coming!

Several Federal Reserve members (Grinches) have stated that they may not be done hiking rates and that they need to see more data showing that inflation is continuing to go down. While I think their statements are probably the responsible thing…
Market Insights from D.C. Aiken

Better Late Than Never! Mortgage Rates Moving Lower as Many Anticipate FED Cuts In The Near Future

I have been predicting that we will see lower mortgage rates soon, and it appears that my forecast is starting to get a little clearer. I truly thought we would be closer to 6% by now, but our friends at the Federal Reserve continued to chase…
Market Insights from D.C. Aiken

Beware of “No Cost Refinances” & the Fed’s Unyielding Quest

Beware of "Snake Oil" Loan Officers Selling "No Cost Refinances" If Using Them for Your New Purchase You know things are getting slow when you hear about Loan Officers telling prospective buyers that if they use them for their loan, they will…
Market Insights from D.C. Aiken

Caught In a Trap…

In November of 1969, Elvis’ song Suspicious Minds hit number 1 on the Pop Charts and describes mistrust and doubt in certain people where they felt they were “Caught In A Trap.” The same could be said today with some of our Federal Reserve…
Market Insights from D.C. Aiken

Home, Hearth, and High Rates: A Thanksgiving Tale of Gratitude Amidst Mortgages…

As Thanksgiving approaches, amidst the challenges of soaring interest rates and a complex housing market, it's a moment to embrace gratitude for the treasures that truly matter -- family and home. Despite financial uncertainties, our homes…
© Copyright 2024 - BankSouth Mortgage Company, LLC. All Rights Reserved. | Web Design by M16 Marketing