Mortgage Minute Volume 8, October 2020
Posted October 30, 2020 in Mortgage

Housing Update Despite the fact that we are in the midst of a global pandemic, home prices continue to rise. There are 3 distinct catalysts driving this growth, fiscal policy, consumer preferences, and monetary policy. In regards to our fiscal policy, typically in a recession, people lose their jobs, incomes drop, and foreclosures and distressed […]

Mortgage Minute Volume 7, August 2020
Posted August 28, 2020 in Mortgage

FHFA Refinancing Fee-Delayed Originally on August 12th, the FHFA (Federal Housing Finance Agency), announced they would be assessing a 0.5% fee on all refinances that were delivered to Fannie Mae and Freddie Mac after September 1st. This meant any conventional refinance that closed basically after August 20th was subject to the fee. A typical refinance […]

Mortgage Minute Volume 6, July 2020
Posted July 29, 2020 in Mortgage

Interest Rate Update Interest rates are hovering near all-time lows. However, you have to be careful with the reports that the media puts out in terms of rates. A couple weeks ago, there was a report that rates had hit an all-time low according to the Freddie Mac’s report. When going to Freddie Mac’s website, […]

Mortgage Minute Volume 5, May 2020
Posted May 28, 2020 in Mortgage

Will Rates Get Lower? The current rates are at historic lows, even after the Great Recession of 2008. Rates have remained steady and some have asked why they have not gotten lower. There are two catalysts playing an important role that have been ripple effects caused by the Pandemic: 1.) Banks are experiencing capacity issues […]

Mortgage Minute Volume 4, April 2020
Posted April 2, 2020 in Mortgage

Mortgage Update Due to the Covid-19 pandemic, we have seen many significant changes in the mortgage industry that will have an impact on how you conduct business moving forward. With underwriting guidelines and loan programs changing, we will all be living and operating in a plain vanilla loan world for the foreseeable future. A strong […]

Mortgage Minute Volume 3, March 2020
Posted March 3, 2020 in Mortgage

The Feds Cut Rates On Sunday, the Feds announced that they were cutting the Federal Funds Rate to Zero. What did this announcement really mean for the mortgage industry? The Federal Funds rate is the overnight (short-term) rate that that banks use to lend money to one another. Although this rate cut does NOT directly […]

Mortgage Minute Volume 2, February 2020
Posted February 26, 2020 in Mortgage

INTEREST RATE UPDATE The Wuhan coronavirus has been significantly affecting US markets since January 21. Between then and now, mortgage rates have been continuing to fall moderately. Average mortgage rates fell appreciably on Friday, as we predicted. Current mortgage rates are near an all-time low in three years. That means it’s best to shop today’s […]

Mortgage Minute Volume 1, January 2020
Posted February 3, 2020 in Mortgage

Interest Rate Update Last week was another volatile one due to the US and Iran Conflict. Initially, the Stock market sold off significantly, down over 400 points. During escalations of conflict between countries, investors quickly moved investment dollars from the stock market to the safest investments such as U.S. Treasury Bills and Mortgage Backed Securities. […]

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