Please click below to watch this week’s update which includes information on current interest rates, volatility, changes to Jumbo loan programs, and the employment picture: Please feel free to share this with others! Current Outlook: floating
Last week various mortgage institutions announced a new program designed to help struggling homeowners weather the present economic downturn. It allows homeowners who qualify to suspend mortgage payments for up to 12 months and avoid late fees and late payments reported on their credit record. However, the program has pitfalls that homeowners need to be […]
My Neighbor’s House My neighbor put their house on the market at the beginning of March for $700,000 and due to the COVID-19 outbreak has had very little traffic. Over the weekend, just when they thought there was no hope of selling their home a group of pranksters teepeed their house. Now they are under […]
After increasing to multi-year highs at the tail end of last week home loan rates have started the week back down to all-time lows. Watch this weeks video which includes an update on mortgage rates, my outlook on housing prices, and some initiatives that Fannie Mae is taking to help support homeowners and the housing […]
Under normal circumstances we expect mortgage rates to improve when stocks decline. You can CLICK THIS LINK to learn why. However, as we can all attest these are anything but normal circumstances. Despite the US stock market experiencing some of the biggest sell-offs in history mortgage rates are actually increasing off all-time lows. Why the […]
Given the extraordinary circumstances we are currently experiencing I have prepared a special video ‘rate update’ for today. Please take 4 minutes to watch this special message below: Current Outlook: Floating
Home Loan Rates Mortgage rates are at all-time low levels. We have recommended a floating position the past couple weeks and that position has proved beneficial. Volatility The financial markets are experiencing extreme volatility. Yesterday the Dow Jones Industrial Average had its biggest one day drop ever……this morning US stocks are rallying. Mortgage lenders are […]
Home Loan Rates In last week’s update we took a “floating” stance because we thought fear over the coronavirus would continue to grow. That seems like an understatement now. Mortgage rates established new all-time lows on Thursday last week and remain at all-time low levels today. The Coronavirus The Coronavirus continues to spread across the […]
Home Loan Rates Mortgage rates are presently at all-time lows which were originally established in 2012 and again in 2016. Could home loan rates go even lower? The Coronavirus Although new cases of the Coronavirus are slowing in China the number of people infected in other countries is growing. Furthermore, there is fear that some […]
Home Loan Rates Mortgage rates are mostly unchanged from last week despite economic news which has not been rate friendly. Jobs Report Last Friday’s all-important jobs report showed that 291,000 new jobs were created during the month of January. Analysts had been expecting a figure closer to 160,000 new jobs. Normally when the jobs report […]