Mortgage Rates continue in a sideways pattern, just above key technical levels while Stocks retreat after yesterday’s huge rally. In housing news, both September Housing Starts and Building Permits declined from August while single-family starts also decreased. The Mortgage Bankers Association reports that the 30-year fixed-rate mortgage rose to the highest level since February 2011. […]
Higher Stock prices are capping any gains in the market as prices as well as yields are near unchanged. The Labor Department reported a record high number of job openings in August as the sector continues to strengthen. I am recommending floating, but Mortgage Rates are on shaky ground after the labor market report. Don’t […]
Mortgage Rates begin the week modestly higher being supported by a weak Retail Sales report along with lower Stock prices. In housing news, Trulia reports that price cuts for homes on the market in August hit their highest level since 2014. With the Stock markets lower today, I am recommending floating. If opportunity doesn’t knock, […]
After the recent steep plunge, Stocks are rebounding this morning and are weighing on Rates. Stock investors are looking for bargains after the mini-correction, which is always healthy given prices recently hit all-time highs. Today I will continue to recommend floating. Life is very short and what we have to do must be done in […]
Tame consumer prices in September are lifting rates while lowering yields this morning. Stocks have trimmed early morning losses on the lower inflation data. Freddie Mac reports that mortgage rates rose this week and are now at seven-year highs, similar to what the Mortgage Bankers Association reported on Wednesday. However, when looking at mortgage rates […]
Mortgage Rates are drifting a little lower, giving up some of yesterday’s gains thanks to year over year gains in wholesale or “Producer” inflation. The Mortgage Bankers Association reports that mortgage rates rose in the latest week to levels not seen since February 2011. I am recommending floating to start the day but be on […]
Mortgage Rates begin the holiday shortened week near unchanged and off the worst levels as prices attempt to recuperate after last weeks plunge in prices and the rise in Mortgage Rates. There were no economic reports due for release today. To begin the week, I am recommending floating. One customer well taken care of could […]
The solid September Jobs Report pushed Mortgage Rates are a bit lower this morning, despite a decline in the Stock markets. Job growth slowed in September due to Hurricane Florence, but July and August were revised higher while the Unemployment Rate fell to a 50-year low. Heading into the weekend, I am recommending locking until […]
Did you know that Tax Liens are no longer reported on credit reports? This means that, if you have a tax lien, your credit score could have increased dramatically However, if you are looking to buy, the tax liens will likely be discovered in the loan underwriting process and/or through the Title Company’s search… Why […]
Veterans who served on active duty and were discharged under conditions other than dishonorable, during World War II and later periods are eligible for VA loan benefits. World War II (September 16, 1940 to July 25, 1947), Korean conflict (June 27, 1950 to January 31, 1955), and Vietnam era (August 5, 1964 to May 7, […]
DAILY MORTGAGE RATE UPDATE 10-17-18October 17, 2018 - 8:41 amDAILY MORTGAGE RATE UPDATE 10-16-18October 16, 2018 - 8:23 amDAILY MORTGAGE RATE UPDATE 10-15-18October 15, 2018 - 8:37 amDAILY MORTGAGE RATE UPDATE 10-12-18October 12, 2018 - 8:45 amDAILY MORTGAGE RATE UPDATE 10-11-18October 11, 2018 - 8:27 am