mortgage: Rates take a Hit. Changes to come.
- 11/14/16 04:28 AM
"Election" and "politics" are likely trigger words that you avoid at your workplace, over dinner with friends, and even at home by now. After 19 months of campaign drama, the nation elected a new POTUS last week - and the ripples came roaring after. There was a bit of immediate volatility in the stock market, and values fluctuated a bit after the polls had closed. But what does it all mean for you, and your real estate goals? Maybe you plan to buy a home in the next year? Maybe you plan to sell your home? As of today, financing rates for a … (2 comments)
mortgage: Prepare: 8 Questions your Lender will Ask
- 01/14/15 06:36 AM
Over the last couple of weeks, I have had the opportunity to work with many clients, referrals and friends in their search for a new rental property. Many people don’t even think about the possibility of owning, rather than renting, because they’re apprehensive about the loan process. If you’re on the fence, or even just curious about what to expect when speaking with a lender, here is a helpful lowdown on what you might face. I even have a list of just about every type of document you might need to send over for approval - want it? Email me! These … (1 comments)
mortgage: Mortgage Update: 30 year Fixed - 4.25%; 15 year Fixed - 3.375%
- 09/22/14 07:15 AM
Local News! Dallas is booming without a doubt. As per a local developer I'm in touch with, the amount of Urban Infill and Repurposing of commercial to residential is staggering! Watch the Design, and Riverfront Districts to boom soon... Not to mention South Dallas as the areas surrounding the Cedars appears to be on many a radar. Kessler and Bishop Arts still feel the effects of this interest and infill of money, started some years back. Mortgage rates improved early last week before retreating throughout most of the remainder of the week, surrounding Wednesday’s releases of the FOMC monetary policy and interest rates, while … (0 comments)
mortgage: Weekly Mortgage Rates: 30yr Fixed - 4.625%; 15yr Fixed - 3.75%
- 01/07/14 11:59 PM
Mortgage rates saw moderate change throughout the short week of the New Year Holiday, while the US economic and employment outlooks improved. Jobless Claims were better than expected, remaining below their 350,000 cap for an improving job market. While Pending Home Sales fell slightly short of their expectations, the Dallas Manufacturing index and Construction Spending both beat their expectations - I keep close ties with the civil engineering and surveying business here locally, and can attest that things are improving greatly. The Consumer Confidence index far shattered it's estimate, as American views of current economic conditions jumped the highest since April, 2008. … (0 comments)
mortgage: Weekly Mortgage Look: 30 yr Fixed - 4.5%; 15 yr Fixed - 3.5%
- 12/17/13 06:18 AM
As of January - Changes to Lending Arrive: FHA on January 1st will be increasing it Maximum Loan Limit to $287,500, from $271,050 This makes the Maximum Sales Price $297,900 if our clients want to use the minimum down payment of 3.5% Remember FHA has Mortgage Insurance for the life of the loan regardless of Down Payment FHA Allows all the Down Payment and Closing costs to be a gift from Family or close verifiable relationship FHA Allows the Seller to Pay up to 6% of the sales price for closing costs. Mortgage rates worsened midweek alongside speculation that the Fed … (0 comments)
mortgage: Weekly Mortgage Look: 30 Year Fixed - 4.5%; 15 Year Fixed - 3.37%
- 11/25/13 06:16 AM
Mortgage rates worsened this week after the FOMC (Federal Open Markets Committee) released their October meeting summary, stating that Fed-policy tapering may occur in the “upcoming months” while consumer sentiment remains low. It further stated that while is little economic change since September, economic growth is expected to increase. They mentioned that while the housing recovery has slowed, fiscal policy is restraining economic growth, as further improvement in the labor markets and a moderate economic climate may warrant tapering. Though there were no heavy economic releases until mid-week, mortgage rates saw moderate volatility alongside of several Fed speakers. While Chicago Fed … (0 comments)
mortgage: What's Included a Mortgage Payment?
- 10/11/13 02:20 AM
With real estate at affordable prices (though on the rise) and interest rates at low low low percentages (still), many prople are considering becoming first-time or move-up homebuyers. Unfortunately, it can seem extremely daunting when you consider coming up with a hefty amount for a down payment. It's about understanding. The free-money days of housing, when someone was able to get a home loan with little or no money down, are gone. And while there are still ways to qualify for a mortgage with little 'skin in the game,' it is important to consider your options and the impact that your … (2 comments)
mortgage: Weekly Mortgage Rates: 4.5% - 30yr Fixed; 3.5% - 15yr Fixed
- 10/10/13 01:43 AM
Mortgage rates improved throughout most of the week as the U.S. government (as we all know) suspended their non-essential operations as of Tuesday last week for the first time in seventeen years, following failure to reach a budget agreement on Capitol Hill. While the Democrat-driven Senate proposed a short-term “clean” spending bill that did not alter Obama’s Affordable Care Act, House Republicans refused to pass the bill and maintained their stance to defund Obamacare, resulting in a government shutdown. President Obama claimed to CNBC that there may be a faction that is willing to default on U.S. obligations, hinting that Republicans … (0 comments)
mortgage: Weekly Mortgage Update - Rates Holding?
- 09/20/13 04:29 AM
The bad news is that the Federal Reserve has a more downbeat outlook on the U.S. economy for 2013 and 2014 than it did three months ago. Are rates going to go back to where they were six months ago? I very much doubt it, not with the continued strong housing and other economic indicators. But the Fed predicts that the economy will grow just 2 percent to 2.3 percent this year, down from its previous forecast in June of 2.3 percent to 2.6 percent. And next year's economic growth isn't expected to be too healthy at 3 percent, the Fed … (0 comments)
mortgage: Weekly Mortgage Update: 30yr Fixed 4.625% and 15yr Fixed 3.75%
- 07/15/13 06:46 AM
Well, hello again! The primary influence on mortgage rates this week was shifting expectations for Fed policy. Fed Chief Bernanke eased investor concerns about tighter monetary policy, causing mortgage rates to end the week lower, reversing most of the prior week's increase. To boost the economy in recent years, the Fed has used a variety of tools, which helped push mortgage rates down to historically low levels. Now that the economy is improving, Fed officials have indicated that it may soon be time to begin to scale back one of its tools, the bond buying program. As expected, mortgage rates reacted to … (0 comments)
mortgage: Weekly Mortgage Update: 4.125% 30yr Fixed, 3.25% 15yr Fixed
- 06/17/13 06:49 AM
Shifting investor expectations worked in favor of mortgage rates this week. And, lucky for us, as a result, mortgage rates ended the week a little lower. The Fed has used two primary approaches to stimulate the economy and to help push mortgage rates to historically low levels. Everyone has focused a lot of attention lately on the Fed's bond purchase program, which the Fed is expected to begin to scale back before too long. This program was initiated to provide additional stimulus after the Fed had cut the fed funds rate to near zero and could go no lower. Until recently, … (0 comments)
mortgage: Weekly Mortgage Update: 30yr Fixed 3.5%, 15yr Fixed 2.625%
- 05/08/13 05:29 AM
During a week packed full of major economic news, the big market mover was Friday's stronger than expected Employment report, and mortgage rates ended the week higher. This week's Fed and ECB meeting announcements produced some volatility but had little net impact. Following a dismal March Employment report and weaker than expected first quarter GDP data, investors were concerned about another spring slowdown for the US economy. The April Employment report helped alleviate those fears, however. Against a consensus forecast of 155K, the economy added 165K jobs in April. The bigger news was that the figures for February and March were … (0 comments)
mortgage: Weekly Mortgage Update: 30yr Fixed - 3.75%; 15yr Fixed 2.75%
- 04/01/13 03:18 AM
Well, a relatively quiet week. Mixed US economic data had little impact. Events in Europe were the main influence on mortgage rates, as investors were concerned about the uncertainty in Europe slowing the pace fo the global growth. As a result, mortgage rates ended a little lower in the week. The bank problems in Cyprus raised broad questions about the relationship between the troubled countries and the stronger countries in the European Union (EU). Early in the week, Cyprus reached an agreement to receive an EU bailout package for it's banks. The terms of the aid highlighted the growing reluctance of … (0 comments)
mortgage: Weekly Mortgage Update: 30yr Fixed - 3.875%, 15yr Fixed - 2.875%
- 02/19/13 05:51 AM
Improving economic growth in the US was negative for mortgage rates this week. This was offset by weakness in Europe and Japan, resulting in mortgage rates just a little higher at weeks end. The biggest US economic report released this week was Retail Sales. Since Retail Sales accounts for roughly 70% of economic activity, this report is tightly watched by investors and the Fed. Consumer spending increased at 2.2% annually during the fourth quarter of 2012, but investors are concerned that it may slow during the first quarter of this year due to a number of factors, including this years payroll … (0 comments)
mortgage: Weekly Mortgage Update - 30yr Fixed 3.75% and 15yr Fixed 2.875%
- 02/11/13 12:54 AM
Happy Mortgage Monday! Following last week's packed schedule, there was far less major economic news this week. The global economic data that was released was generally a little stronger than expected. This was negative for mortgage rates, which ended the week a little higher. The biggest surprise in this week's exonomic news came from Friday's data on imports and exports. The December Trade Deficit declined to the lowest level since January 2010. Exports were higher than expected, and imports were smaller. Since the first reading for fourth quarter GDP used an estimate of the December trade data, the actual results will … (0 comments)
mortgage: Christmas Shopping - More than you Bargained for...
- 11/30/10 10:56 AM
This holiday season, evidence of the recession may be a little more apparent in your surroundings. While some have managed to pick back up from pummeling job-losses or health scares during the downfall, many other families are still facing a tight Christmas in terms of gift giving. Gene Mundt (Chicago Mortgage Banker) recently wrote an article about the dangers of store and retailer incentives that many of us face, out and about. Member card incentives, buy one get ones, percentages slashed and "Act Now" enticements are all over the place, and it doesn't take a shopper very long to hear one … (4 comments)
mortgage: Blank Stares followed by 'Uh-huh.'
- 05/19/10 06:04 AM
Oftentimes when I witness communication between a Lender and Buyers, there's a lot of one-way talking. It's difficult to be thrown into the world of payments, escrow and points without a little bumps and detours if it happens to be your first home purchase - the terminology is different and it's more than likely one of the largest purchases you'll make in your lifetime. Whether it's the PreQual, the GFE (Good Faith Estimate) or the Settlement Statement, it always seems like crickets enter the room when a Lender document is being explained. Yesterday, at a closing, the Settlement Statement was being … (4 comments)
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"Election" and "politics" are likely trigger words that you avoid at your workplace, over dinner with friends, and even at home by now. After 19 months of campaign drama, the nation elected a new POTUS last week - and the ripples came roaring after. 
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