rates: The British are Leaving, The British are Leaving! - 06/24/16 05:15 AM
They did it!  The British voted to exit the European Union (aka Brexit), which many experts predicted was unlikely.  What they also predicted is that if Great Britain did vote to leave, it would throw the global economy into a tailspin and cause stocks to plummet.  And that is exactly what we saw happen in the wee hours of this morning in light of the news the British voted 51.9% to 48.1% to leave the EU.
Ironically, what this means for us in the mortgage business is that such negative news has had a very positive effect on the bond market and, hence, mortgage interest rates. … (0 comments)

rates: Rate Shopping? What You See May Not Be What You Get. - 11/01/14 06:41 AM
Have you ever received an interest rate quote or seen a published rate on the Internet only to find out later that you’re not offered the same rate when you go through the loan application process? That’s because there are many variables in determining rates for individual buyers and the rate you’re offered depends on your own situation.
Usually when you see a published rate quote, it is the rate offered to the most highly qualified borrowers for a particular type of loan for a particular type of property, often referred to as a "best execution" rate.  Those rates are typically … (1 comments)

rates: Reflections of a Newbie Lender - 01/04/14 01:14 AM
The start of the New Year is a new beginning for me in many ways, but particularly, since I recently launched a new career, from real estate broker to mortgage loan originator.  I thought I would share a few of the insights I’ve gained during the first two months in the mortgage business.
1.  They didn't teach me this in class! There is SO much more to loan originating than meets the eye or that one ever learns during the licensing class.  I guess that can be said of most professions, but when you start out thinking you already know quite a … (1 comments)