Rates moved higher yesterday upon further selling pressure in the bond market. However, we are shifting our outlook to a floating position today. In yesterday’s ‘rate update’ we stated that , “From a technical standpoint we are testing multi-month lows on bond prices. We may see a bounce off these lows which would help rates […]
Rates are effectively unchanged this morning. However, mortgage-backed bonds have come under selling pressure which could pressure rates slightly higher later on today. What is pressuring bonds? *This morning’s retail sales report indicated that consumer spending grew twice as fast as economists had expected. This good news for our economy is helping stocks this morning […]
This was a recent piece done on KOIN 6 news involving the National Association of Realtors Cheif Economist.
Mortgage rates have increased .25%-.50% over the past couple weeks in response to increased focus on inflation in the financial markets. If you’ve been following ‘rate update’ closely then you know that we began sounding alarms back in the beginning of May when oil prices rocketed past $100/ barrel. Consumers are beginning to hear that […]
Comparing two GFE’s from two separate lenders can often be a confusing and overwhelming task. It can be very difficult to differentiate between costs and fees that are connected to the lender and costs which are independent of the lender. Here are some common tips in evaluating a GFE that will help you best understand […]
Mortgage rates are higher this morning following a significant sell-off in mortgage-backed bonds yesterday. You can see on the chart below that since breaking below the 200-day moving average on June 4th mortgage-backed bonds have traded lower all but one day (red lines indicate down days & green lines indicate up days). Over that time […]
Mortgage rates are unchanged this morning. A continuation of concerns surrounding inflation is dominating the headlines this morning (and over the weekend). For a review on how inflation impacts mortgage rates please refer to this blog posting.oil prices would reach $150/ barrel this summer. On Sunday the average price for a gallon of gasoline in […]
The most common ARM products we originate are hybrid ARMs. With a hybrid ARM the interest rate is fixed for an initial period of time before it reaches an adjustable rate period. 3/1, 5/1, 7/1, & 10/1 ARM’s– The most common hybrid ARM’s are the 3/1, 5/1, 7/1, and 10/1 ARM’s. With these loan products […]
Has your home recently been listed for sale? If so, did you know that by having your home listed for sale your ability to refinance your mortgage is severely limited? 95% of banks will not lend on homes that have been recently listed for sale because they are concerned that the home might go back […]
Mortgage rates are unchanged this morning despite a lot of erratic movements in the financial markets. Headed into the day we knew that the monthly jobs report would be important. Within the jobs report there were a couple measures that likely have traders confused on how to play the markets. First, the report indicated that […]