rate lock: The Most Frequently Asked First-Time Homebuyer Questions
- 04/13/23 07:58 AM
The Most Frequently Asked First-Time Homebuyer Questions
I realize it may seem daunting to ask what you feel may be the simple or even, er, "stupid" questions when you are a first-time homebuyer. But by all means, DO NOT let your "pride" get in the way.
Questions like:
What is a pre-approval and how long is it good for? Do I need 20% down? Will applying for a mortgage hurt my credit? Should I shop multiple lenders? What's the best type of loan to get? When can I lock an interest rate? How much are closing costs? How does my lender get paid? … (1 comments)
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rate lock: How to Rock Shopping for Mortgage Rates!!!
- 09/22/22 07:59 AM
How to Rock Shopping for Mortgage Rates!!!
Have a rate quote but want to see if another lender, banker or broker can "beat it?"
Concerned that the Fed will keep hiking rates and trying to decide whether to lock your rate today?
Mortgage rate shopping doesn't need to be stressful if you follow these simple tips from an industry pro:
No one wants to be defeated,
Rob Spinosa
SVP of Mortgage Lending
Guaranteed Rate
NMLS: 22343
Cell/Text: 415-367-5959
rob.spinosa@rate.com
Marin Office: 324 Sir Francis Drake Blvd., San Anselmo, CA 94960
*The views and opinions expressed on this site about work-related matters are my own, have not been reviewed or approved by Guaranteed Rate and do … (2 comments)
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rate lock: How Do Rate Locks Work?
- 08/03/20 08:21 AM
How Do Rate Locks Work?
There is one thing in common among all of our clients. No matter what price point, no matter what loan size, no matter good credit or bad, no matter first-time buyer or seasoned investor, all are looking for the lowest interest rate at the lowest cost. But how does a mortgage borrower secure such terms? A part of the home loan process is "locking an interest rate" and this process could use a bit of explanation, so as to dispel some of the myths and offer a better understanding of how things work.
What Is a Rate Lock?
You've … (4 comments)
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rate lock: Lock Watch for the Week of 4/8/2019
- 04/05/19 07:03 AM
Lock Watch for the Week of 4/8/2019
Volatility-O-Meter:
Inflation readings and auctions should backdrop an interesting week.
Economicalendar (all times are Pacific):
Mon, 4/8: Factory Orders (7am).
Tues, 4/9: JOLTS (7am), 3-Yr Note Auction (10am).
Weds, 4/10: CPI (5:30am), 10-Yr Note Auction (10am), FOMC Minutes and Treasury Budget (11am).
Thurs, 4/11: Jobless Claims and PPI (5:30am), 30-Yr Bond Auction (10am) and Fed Balance Sheet (1:30pm).
Fri, 4/12: Import and Export Prices (5:30am), Consumer Sentiment (7am).
10-Year Treasury History
2.51% Market Open
2.49% One Week Ago
2.62% One Month Ago
2.78% One Year Ago
(Need a rate quote for your specific scenario? Click anywhere on this link.)
Paying … (1 comments)
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rate lock: Lock Watch for the Week of 3/4/2019
- 03/03/19 02:37 PM
Lock Watch for the Week of 3/4/2019
Volatility-O-Meter:
A healthy slate of reports this week but I'm not sure any of it will break the 15bps range we've held since early January. Employment situation on Friday warrants the most attention.
Economicalendar (all times are Pacific):
Mon, 3/4: Construction Spending (7am).
Tues, 3/5: New Home Sales and ISM Non-Mfg Index (7am).
Weds, 3/6: ADP Employment Report (5:15am), International Trade (5:30am), Beige Book (11am).
Thurs, 3/7: Jobless Claims and Productivity and Costs (5:30am). Fed Balance Sheet (1:30pm).
Fri, 3/8: Employment Situation and Housing Starts (5:30am).
10-Year Treasury History
2.74% Market Open
2.68% One Week Ago
2.73% One … (3 comments)
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rate lock: Lock Watch for the Week of 2/18/2019
- 02/16/19 03:36 PM
Lock Watch for the Week of 2/18/2019
Volatility-O-Meter:
Lots of Fed talk this week but few reports.
Economicalendar (all times are Pacific):
Mon, 2/18: President's Day, markets closed.
Tues, 2/19: Housing Market Index (7am).
Weds, 2/20: FOMC minutes (11am).
Thurs, 2/21: Jobless Claims, Durable Goods, Philadelphia Fed Bus Outlook Survey (5:30am). Existing Home Sales (7am).
Fri, 2/22: Quiet.
10-Year Treasury History
2.67% Friday's Close
2.66% One Week Ago
2.79% One Month Ago
2.88% One Year Ago
(Need a rate quote for your specific scenario? Click anywhere on this link.)
Hell on Wheels: New York City's Subway in the 1970's
A fond childhood memory of mine is riding … (1 comments)
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rate lock: Lock Watch for the Week of 1/14/2019
- 01/13/19 02:49 PM
Lock Watch for the Week of 1/14/2019
Volatility-O-Meter:
A good mix of important reports throughout the week and though it does not seem promising at the moment, a resolution to the shutdown brings the potential for the stock market to rally and bonds to sell off. Be careful.
Economicalendar (all times are Pacific):
Mon, 1/14: Quiet.
Tues, 1/15: PPI and Empire State Mfg Survey (5:30am).
Weds, 1/16: Retail Sales and Import/Export Prices (5:30am), Business Inventories and Housing Market Index (7am), Beige Book (11am).
Thurs, 1/17: Housing Starts, Jobless Claims, Phila Fed Business Outlook Survey (5:30am).
Fri, 1/18: Industrial Production (6:15am) and Consumer Sentiment … (2 comments)
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rate lock: Lock Watch for the Week of 12/17/2018
- 12/16/18 11:25 AM
Lock Watch for the Week of 12/17/2018
Volatility-O-Meter:
FOMC statement and virtual certainty of another rate hike (.25%). This will not surprise anyone, but against the backdrop of recent market volatility, the ensuing statement could. Then, GDP on Friday.
Economicalendar (all times are Pacific):
Mon, 12/17: Empire State Mfg Survey (5:30am), Housing Market Index (7am).
Tues, 12/18: Housing Starts (5:30am).
Weds, 12/19: Existing Home Sales (7am) and FOMC Meeting (11am).
Thurs, 12/20: Jobless Claims and Philadelphia Fed Business Outlook Survey (5:30am).
Fri, 12/21: Durable Goods and GDP (5:30am). Personal Income and Outlays and Consumer Sentiment (7am).
10-Year Treasury History
2.87% Today's Open
2.86% … (2 comments)
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rate lock: Lock Watch for the Week of 12/10/2018
- 12/09/18 06:55 PM
Lock Watch for the Week of 12/10/2018
Volatility-O-Meter:
Key inflation reports mid-week will help set the direction. Recent market (stock and bond) volatility has largely played into a narrative that the Fed may reduce number of forthcoming rate increases, but if inflation comes in hot, I expect a lot more turmoil.
Economicalendar (all times are Pacific):
Mon, 12/10: JOLTS (7am).
Tues, 12/11: PPI (5:30am) and 3-Year Note Auction (10am).
Weds, 12/12: CPI (5:30am) and 10-Year Note Auction (10am). Treasury Budget (11am).
Thurs, 12/13: Jobless Claims and Import/Export Prices (5:30am). Fed Balance Sheet (1:30pm).
Fri, 12/14: Retail Sales (5:30am) and Industrial Production (6:15am). Business Inventories (7am).
10-Year … (0 comments)
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rate lock: Lock Watch for the Week of 11/19/2018
- 11/17/18 08:39 AM
Lock Watch for the Week of 11/19/2018
Volatility-O-Meter:
Wednesday is a real market day but otherwise the week is light, even if the meals will be heavy...
Economicalendar (all times are Pacific):
Mon, 11/19: Housing Market Index (7am).
Tues, 11/20: Housing Starts (5:30am).
Weds, 11/21: Jobless Claims and Durable Goods (5:30am), Consumer Sentiment and Existing Home Sales (7am).
Thurs, 11/22: Thanksgiving.
Fri, 11/23: PMI Composite Flash (6:45am), Fed Balance Sheet (1:45pm).
10-Year Treasury History
3.07% Today's Open
3.19% One Week Ago
3.19% One Month Ago
2.37% One Year Ago
Yesterday When I Was Young
Even though there should have been no rightful way for … (0 comments)
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rate lock: Lock Watch for the Week of 10/29/2018
- 10/22/18 10:12 PM
Lock Watch for the Week of 10/29/2018
Volatility-O-Meter:
Big week of reports against a backdrop of a market in serious motion and on the eve of a pivotal election. Fasten your seatbelts...
Economicalendar (all times are Pacific):
Mon, 10/29: Personal Income and Outlays (5:30am) and Dallas Fed Mfg Survey (7:30am).
Tues, 10/30: Case-Shiller Home Price Index (6am) and Consumer Confidence (7am).
Weds, 10/31: ADP Employment (5:15am) and Chicago PMI (6:45am).
Thurs, 11/1: Productivity Costs and Jobless Claims (5:30am), PMI Mfg Index (6:45am), ISM Mfg Index (7am) and Construction Spending (7am).
Fri, 11/2: Employment Situation and International Trade (5:30am) and Factory Orders … (6 comments)
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rate lock: Lock Watch for the Week of 8/20/2018
- 08/18/18 11:29 AM
Lock Watch for the Week of 8/20/2018
Volatility-O-Meter:
Kind of a quiet week ahead. Who's up for heading to the beach one last time?
Economicalendar (all times are Pacific):
Mon, 8/20: Quiet.
Tues, 8/21: Quiet.
Weds, 8/22: Existing Home Sales (7am) and FOMC (11am).
Thurs, 8/23: Jobless Claims (5:30am) and New Home Sales (7am).
Fri, 8/24: Durable Goods (5:30am).
10-Year Treasury History
2.84% Today's Open
2.88% One Week Ago
2.89% One Month Ago
2.18% One Year Ago
Randy Rhoads
Randy Rhoads was born into a musical family in 1956 and taught himself to play guitar at his mother's San Fernando … (1 comments)
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rate lock: Lock Watch for the Week of 7/23/2018
- 07/22/18 12:55 PM
Lock Watch for the Week of 7/23/2018
Volatility-O-Meter:
GDP at the end of the week and auctions in the middle, but let's not discount the significance of what happened with comments from the President regarding the Fed. Bloomberg chimes in on it HERE. Could this be our next real rate driver?
Economicalendar (all times are Pacific):
Mon, 7/23: Existing Home Sales (7am).
Tues, 7/24: PMI Composite Flash (6:45am) and 2-Year Note auction (10am).
Weds, 7/25: New Home Sales (7am) and 5-Year Note auction (10am).
Thurs, 7/26: Durable Goods, International Trade in Goods and Jobless Claims (5:30am) and 7-Year Note auction (10am).
Fri, … (0 comments)
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rate lock: Lock Watch for the Week of 6/25/2018
- 06/24/18 06:18 AM
Lock Watch for the Week of 6/25/2018
Volatility-O-Meter:
There is enough economic data on the calendar to keep things interesting, but escalating trade war actions may be the driver (again...).
Economicalendar (all times are Pacific):
Mon, 6/25: Chicago Fed National Activity Index (5:30am) and New Home Sales (7am).
Tues, 6/26: S&P/Case-Shiller Home Price Index (6am), Consumer Confidence (7am) and 2-Yr Note Auction (10am).
Weds, 6/27: Durable Goods (5:30am) and Pending Home Sales (7am). 5-Yr Note Auction (10am)
Thurs, 6/28: Jobless Claims and GDP revision (5:30am). 7-Yr Note Auction (10am)
Fri, 6/29: Core PCE (5:30am), Chicago PMI (6:45am) and Consumer Sentiment (7am).
10-Year Treasury History
2.89% Today's Open
2.92% One Week … (0 comments)
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rate lock: Lock Watch for the Week of 6/4/2018
- 06/03/18 07:58 AM
Lock Watch for the Week of 6/4/2018
Volatility-O-Meter:
Kind of a quiet week, if there is such a thing, but watch for a trade war hangover.
Economicalendar (all times are Pacific):
Mon, 6/4: Factory Orders (7am).
Tues, 6/5: ISM Non-Mfg Index and JOLTS (7am).
Weds, 6/6: Productivity and Costs, and International Trade (5:30am).
Thurs, 6/7: Jobless Claims (5:30am) and Consumer Credit (12pm).
Fri, 6/8: Quiet.
10-Year Treasury History
2.91% Today's Open
2.93% One Week Ago
2.95% One Month Ago
2.14% One Year Ago
The Dipsea Race
On the second Sunday in June, picturesque downtown Mill Valley, CA, transforms into the starting corral of … (1 comments)
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rate lock: Lock Watch for the Week of 5/28/2018
- 05/25/18 07:20 AM
Lock Watch for the Week of 5/28/2018
Volatility-O-Meter:
Last week saw some reprieve from the persistent selling and this week's GDP and jobs numbers could either counter or build the trend.
Today, however, a special thank you to all those who have served our country.
Economicalendar (all times are Pacific):
Mon, 5/28: Memorial Day (markets closed).
Tues, 5/29: Consumer Confidence (7am).
Weds, 5/30: GDP and International Trade in Goods (5:30am).
Thurs, 5/31: Jobless Claims and Personal Income and Outlays (5:30am).
Fri, 6/1: Employment Situation (5:30am) and ISM Manufacturing Index (7am).
10-Year Treasury History
2.93% (Friday, 5/25)
3.07% One Week Ago
2.96% One Month … (11 comments)
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rate lock: Lock Watch for the Week of 5/21/2018
- 05/20/18 07:50 AM
Lock Watch for the Week of 5/21/2018
Volatility-O-Meter:
"The beatings will continue until morale improves."
Economicalendar (all times are Pacific):
Mon, 5/21: Quiet.
Tues, 5/22: Richmond Fed Mfg Index (7am). 2-Yr Note Auction (10am).
Weds, 5/23: PMI Composite Flash (6:45am) and New Home Sales (7am). 5-Yr Note Auction (10am). FOMC Minutes (11am).
Thurs, 5/24: Jobless Claims and Existing Home Sales (7am). 7-Yr Note Auction (10am).
Fri, 5/25: Durable Goods (5:30am) and Consumer Sentiment (7am).
10-Year Treasury History
3.07% Today
2.99% One Week Ago
2.96% One Month Ago
2.25% One Year Ago
Liberace
Pop culture can be especially cruel in retrospect, and I think … (0 comments)
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rate lock: Lock Watch for the Week of 5/14/2018
- 05/13/18 07:38 AM
Lock Watch for the Week of 5/14/2018
Volatility-O-Meter:
Relatively quiet week aside from a lot of Fed member speeches, but I am going to put oil prices on the radar too. Heightened Middle East tension could spill over, through oil, into stock and bond markets.
Economicalendar (all times are Pacific):
Mon, 5/14: Quiet.
Tues, 5/15: Retail Sales and Empire State Mfg Survey (5:30am) and Housing Market Index (7am).
Weds, 5/16: Housing Starts (5:30am) and Industrial Production (6:15am)
Thurs, 5/17: Jobless Claims and Philadelphia Fed Business Outlook Survey (5:30am).
Fri, 5/18: Quiet.
10-Year Treasury History
2.99% Today
2.95% One Week Ago
2.82% One Month Ago
2.34% One … (5 comments)
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rate lock: Lock Watch for the Week of 4/2/2018
- 03/31/18 08:27 AM
Lock Watch for the Week of 4/2/2018
Volatility-O-Meter:
Mid to High. Jobs report on Friday --- watch out for indications of wage growth.
Economicalendar (all times are Pacific):
Mon, 4/2: PMI Mfg Index (6:45am). ISM Mfg Index and Construction Spending (10am).
Tues, 4/3: Quiet.
Weds, 4/4: ADP Employment (5:15am), Factory Orders and ISM Non-Mfg Index (7am).
Thurs, 4/5: Jobless Claims and International Trade (5:30am).
Fri, 4/6: Employment situation (5:30am).
10-Year Treasury History
2.76% Today
2.85% One Week Ago
2.86% One Month Ago
2.35% One Year Ago
Mr. T
On or shortly after May 28, 1982, I remember being dropped off at either Yorktown or Oakbrook to … (0 comments)
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rate lock: Lock Watch for the Week of 3/26/2018
- 03/25/18 05:00 PM
Lock Watch for the Week of 3/26/2018
Volatility-O-Meter:
Very high. Short week, GDP, trade war, auctions, locusts...
Economicalendar (all times are Pacific):
Mon, 3/26: Dallas Fed Mfg Survey (7:30am). 2-Yr Note Auction (10am).
Tues, 3/27: Consumer Confidence and Richmond Fed Mfg Index (7am). 5-Yr Note Auction (10am).
Weds, 3/28: GDP and International Trade in Goods (5:30am), Pending Home Sales (7am). 7-Yr Note Auction (10am).
Thurs, 3/29: Jobless Claims and Personal Income and Outlays (5:30am), Chicago PMI (6:45am) and Consumer Sentiment (7am). Market closes early.
Fri, 3/30: Markets closed.
10-Year Treasury History
2.84% Today
2.85% One Week Ago
2.86% One Month Ago
2.38% … (0 comments)
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The Most Frequently Asked First-Time Homebuyer Questions
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