Mortgage News
Jul 13, 2018
If it seems too good to be true, it probably is...that includes what some analysts are saying about how much rates have fallen today alone. Some analysts are predicting we are seeing the "lowest rates since May". Unfortunately, this will be almost meaningless from the borrowers prospective. You see, in almost all cases, what the borrower sees at the top of their loa...
Jul 11, 2018
Summer trading in the bond market tends to be uneventful and slow. The Trump tariff announcement last night ($200bln) didn't seem to make much commotion in the market either. Of course, China is already working on their response, but mathematically, China does not import enough from the US to match the scope of the move with retaliatory tariffs. Bookmark this page for mortgage rates: • 30-year (FRM) rates...
Jul 09, 2018
Market week open, mortgage rates move with a modest increase from what we saw last week. Back into the 4% range for 5/1 Yr ARM. This isn’t shocking to most lenders as June was slow to practically dead for the bond market (which is an underlier to mortgage rates). Volume was light today, but this could change quickly as activity ramps up. Bookmark this page for mortgage rates: • 30-year (FRM) rates...
Jul 06, 2018
As the market braced in anticipation of rate increases from the new tariffs placed on China today, and today's Jobs Reports, we saw a surprising turn of events and rates fell. Overall, the markets did not seem too troubled and we saw a slight sigh of relief today. Bookmark this page for mortgage rates: • 30-year (FRM) rates at 4.65% (-0.04%)• 15-year (FRM) rates at 4.13% (-0.02%)• FHA 30-yea...
Jul 05, 2018
As financial markets return from the mid-week holiday, mortgage rates were somewhat higher today. Stocks remain in a holding pattern amidst trade war anxiety, related to the implementation of the new tariffs scheduled to be placed on China at midnight. If this isn't enough to cause validity in the market, the big jobs report is scheduled for 8:30am ET tomorrow, July 6th. Loan originators remain heavily-biased toward locking as opposed to...
Jul 03, 2018
Based on new research from the National Association of Homebuilders, Millennials now make up the median age for first-time buyers. The average age documented by the NAHB is 32. However, these Millennial First Time Homebuyers are not going into the purchase alone. In NAHB's blog, Eye on Housing, columnist Natalia Siniavskaia writes, "sharing living quarters with others is still a h...
Jun 28, 2018
Another uneventful day for mortgage rates, as there have not been any major moves recently. While lack of movement can be good or bed, depending on how you perceive - on the plus side rates are in line with the lowest levels since back at the end of May, due to the Italian political issues. Bookmark this page for mortgage rates: • 30-year (FRM) rates at 4.66% (0.00%)• 15-year (FRM) rates at 4.11%...
Jun 26, 2018
Due to the calmer movement in stocks today, bonds traded practically identical to yesterday, leaving today's economic data uneventful. Bookmark this page for mortgage rates: Bookmark this page for mortgage rates: • 30-year (FRM) rates at 4.70% (0.00%)• 15-year (FRM) rates at 4.14% (0.00%)• FHA 30-year Fixed rates at 4.42% (0.00...
Jun 22, 2018
Government released a reorganization plan Tuesday June 19th, that highlights several changes directly hitting housing and housing finance. Most notable on the list of changes, the move of the USDA's rural housing loan guarantee and rental support programs to HUD; for reasons, including “…the agencies operate similar programs to support rental housing rehab and development to insure mortgages for home purchase and refinance, and...
Jun 21, 2018
Analysts have already started to predict and ponder on the next economic downturn, some of which are suggesting may happen in the next year. Tariffs and central bank normalization is causing much of the thesis, but economic trending also, cannot be ignored. ...
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