Mortgage rates continue to increase thanks to momentum in the stock market. Mortgage rates have increase .25%-.50% across the board this week because of better than expected earnings reports. We’ve explained in the past on ‘rate update’ that mortgage rates often suffer from a rally in the stock market because fund managers have to sell […]
We thought that bond prices may hold at the 50-day moving average yesterday as they had the last four times that they tested this level. However, the stock market rally was too strong which pushed rates higher again. Here is a chart which shows pricing dropping below the 50-day moving average (black line): From a […]
Here’s an article I read recently: During my twenties, I accumulated nearly $25,000 in consumer debt. I had a spending problem. With time, I was able to get my spending under control (mostly), but I still owned overwhelming debt. How could I get rid of it? The personal finance books all suggested the same approach: […]
30 year fixed rates are higher again this morning. Watch today’s you tube video to understand why rates have been pushed higher. We’re closely watching technical trading patterns again as mortgage-backed bonds trade up against the 50-day moving average price line. Current outlook: Cautiously floating
Rates are slightly higher across the board this morning. Two things are working against mortgage rates. First, as I mentioned in yesterday’s ‘rate update’ video we are in the heart of earnings season and a rally in the stock market could put upward pressure on mortgage rates. This is what is happening this morning after […]
It will be a busy week for economic data to be released. This morning we started the week off with the government releasing the monthly retail sales report. The report showed that retail sales in March were higher than what analysts had expected. Furthermore, the report revised February’s retail sales figure higher. Ordinarily this would […]
I originate very few 15 year mortgages. The reason? I believe that cash is king. Given that mortgage rates are at historical low levels I would rather see my clients take out a 30 year amortizing mortgage and invest the difference instead of potentially creating a cash-trap with a 15 year loan. Here’s an article […]
I’ve blogged before about how impressed I am with the coverage that the Economist Magazine has provided throughout the credit crunch that we currently find ourselves in. My praise continues this week. They have published an article pointing out the importance of teaching the masses about financial literacy. I have said all along that the […]
Mortgage rates increases yesterday afternoon by .125% but have since reversed back to the levels reported yesterday in ‘rate update’. The bond market is trading slightly higher in response a weak stock market. The Dow Jones Industrial is currently down over 100 points in part because GE reported weak earnings and gave weak profit guidance. […]
Our compensation typically ranges from 1-2% of the loan amount depending on the interest rate environment and type of loan we’re providing. With a 0% point loan structure the lender that we assign the servicing rights of your loan to will compensate us by paying us a fee for the right to collect the future […]