Mortgage News
Apr 15, 2020
Mortgage rates were down, slightly, today. It was even quite tranquil, as intraday movement wasn't too extreme. And dare I say, mortgage rates even made sense today! You could see that the drop-in mortgage rates matched the stronger trading levels in mortgage bonds. All and all, we're seeing better connection between bond prices and mortgage rates. But we are not out of the woods completely, and should expect disconnects among...
Apr 14, 2020
Today, mortgage rates are up significantly; some lenders slightly less high than others. Although conventional 30yr fixed rates are still in the mid-3% range. Bookmark this page for mortgage rates: • 30-year (FRM) rates at 3.44% (+0.11%)• 15-year (FRM) rates at 3.15% (+0.07%)• FHA 30-year Fixed rates at 3.50% (+0.07%)• Jumbo 30-year Fixed rates at 4.50% (+0.06%)• 5/1...
Apr 10, 2020
New home sales have slowed across the nation in the wake of the current pandemic. However, Realtors are hopeful for the rebound, post-pandemic, which would be driven by delayed demand. Unfortunately, the "spring boom" Realtors do not expect to see 2020. Bookmark this page for mortgage rates: • 30-year (FRM) rates at 3.25% (-0.09%)• 15-year (FRM) rates at 3.00% (-0.25%)• FHA 30-year Fix...
Apr 06, 2020
Points have made a swift resurgence in the mortgage arena. In large due to the high-risk investors are now having to take and wanting to mitigate damages by collecting origination costs up front...in points. Bookmark this page for mortgage rates: • 30-year (FRM) rates at 3.45% (-0.07%)• 15-year (FRM) rates at 3.52% (+0.04%)• FHA 30-year Fixed rates at 3.50% (0.00%)• Jumbo 30-year Fix...
Apr 02, 2020
From one day to the next, mortgage rates are all over the place; which entirely depends on the lender and even the loan program. Daily and intraday movements are vast and outwardly arbitrary. Bookmark this page for mortgage rates: • 30-year (FRM) rates at 3.62% (-0.26%)• 15-year (FRM) rates at 3.62% (-0.28%)• FHA 30-year Fixed rates at 3.60% (-0.40%)• Jumbo 30-year Fixed rates at 4.5...
Mar 30, 2020
The question on lenders minds right now is, how will the massive influx of forbearance requests coming in from homeowners effect the mortgage industry? Well, a good example can be referenced in a March 20th letter to the Federal Reserve Chairman, Jerome Powell, The Mortgage Bank Association estimates that, "if approximately one-quarter of borrowers avail themselves of forbearance for six months or longer, advancing demands on...
Mar 27, 2020
Trump signed into law today, the two trillion-dollar coronavirus stimulus package. $377 billion in loans and grants has been dedicated to small businesses. $500 billion in loans to struggling businesses. Foreclosures and Evictions on federal government backed loans are blocked in the package, and federal student loan payments and interest will also be paused for 6 months. ...
Mar 26, 2020
Mortgage rates in general today, remained unchanged due to the high volatility in the market. The unbridled refinance demand has created more risk than good for lenders, as they remain hesitant to pay what they normally would for mortgages, causing rates to ramp up, and decline. Bookmark this page for mortgage rates: • 30-year (FRM) rates at 3.62% (+0.15%)• 15-year (FRM) rates at 3.40% (-0.20%)• FHA 3...
Mar 25, 2020
Depending on where you look, the time of day and the lender source, mortgage rates are up, down and everywhere in-between. It's gotten so inconsistent that some lenders are a full % point in variance from one another.... this is unheard of. Bookmark this page for mortgage rates: • 30-year (FRM) rates at 3.47% (-0.03%)• 15-year (FRM) rates at 3.60% (-0.03%)• FHA 30-year Fixed rates at 3...
Mar 24, 2020
The market is certainly unstable. With that being said, newly constructed home sales are near post-2008-crash-highs. New US home sales have been the strongest in the Northeast. ...
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Lisa Stepp
RBS Citizens
Clifton Park, NY
