mortgage interest rates st paul minnesota purchase refinance economy federal reserve home loans: November 19th Market Update: Are you rich? - 11/19/14 02:36 AM
Good Afternoon,
 
I grew up in a small town, Winnebago MN.  Where the family business, plumbing and heating will be celebrating its 60th year in business come 2015.  For all intents and purposes, I feel Rich. Coming from a family where grocery money was earned from pop can recycling in tougher times and the only way I was going to college was from working 30+ hours a week during high school along with getting  a solid GPA for scholarships, I never feel like I’m struggling for my family. They have what the need, whether or not that’s what they want. … (0 comments)

mortgage interest rates st paul minnesota purchase refinance economy federal reserve home loans: November 12th Market Update: In Honor of Veteran's Day 11/11 - 11/12/14 12:16 AM
Good morning,
 
I wanted to send out a belated and heartfelt thanks to our Veteran’s. 
 
Thank you for your service…which is to say, thank you for the time you spend away from your family so I can spend more time with mine.  Thank you for putting your lives at risk, your families through worry and stress so we can risk and worry less about our families.  Thank you for making a commitment to our country that many of us don’t have the guts to pursue.
 
I can’t thank you enough and need you to know that … (0 comments)

mortgage interest rates st paul minnesota purchase refinance economy federal reserve home loans: November 5th Market Update: Did you Vote? - 11/05/14 12:10 AM
Good morning,
 
Once again, interest rates are holding steady in this nice and low pattern. So on to the election results…
 
I’m sure we’re all glad to be done with the campaign ads and honestly, I don’t care who you voted for so long as you got out to vote.  It looks like the initial projections were 55-60% for MN.  Minnesota is one of the top in the nation with this figure.  Still, I can’t help but find this a little bit sad.  When you can have the ballot sent to your home with a little preparation, why not … (0 comments)

mortgage interest rates st paul minnesota purchase refinance economy federal reserve home loans: October 15th Market Update: What's is going on in the stock market? - 10/15/14 01:02 AM
Good Morning,
 
Some of you may have heard about the stock market dropping dramatically this morning, others may have had no clue.  For a Mortgage Broker, we watch the market trends throughout the day.  Especially when the stock market and the bond market start moving in the most dramatic fashion I can remember seeing in the past few years.
 
If the trading ends similar to this morning, we are poised to see interest rates drop even lower tomorrow.  Right now, everything in the market is bouncing up and down so dramatically that major Lenders are keeping rates a little … (0 comments)

mortgage interest rates st paul minnesota purchase refinance economy federal reserve home loans: October 1st Market Update: Who should I watch? - 10/01/14 01:34 AM
Good Morning,
 
As some of you have gotten to know over the years, I’m a baseball fan.  At least I was 5 years ago when the Twins could keep their losses under 90 a season. So, each year, I pick a playoff team and follow them through the postseason. Any suggestions? Give me a reason to watch. I’m begging and pleading for a reason to watch…
 
Okay, on to the Market.  It hasn’t been extremely surprising in the sense that rates are once again holding steady. Yes, the Federal Reserve is ending Quantitative Easing (or their bond/security purchasing … (0 comments)

mortgage interest rates st paul minnesota purchase refinance economy federal reserve home loans: September 23rd Market Update: How much can you afford? - 09/24/14 02:44 AM
Hello there!
 
My snow blower is tuned up and ready to go…wait, what?  Too early?  Yeah, I certainly hope I won’t be using it until January.  After last year, we need a nice looooong fall.  It’d give us all some time to head up to the North shore, Hike along Temperance River and take in the fall colors.  If you’ve never done it, you don’t know what you’re missing!
 
Rates have dipped back to what I’m coining as ‘the usual summer rates’.  This is a nice run back from last week’s spike but unless there is some major news … (0 comments)

mortgage interest rates st paul minnesota purchase refinance economy federal reserve home loans: September 17th Market Update: Change in the air, and interest rates - 09/17/14 12:49 AM
Good Morning,
 
With everyone back into the fall swing and the crisp, cool air reminding us that change is seemingly everywhere, it’s about time we see a change in rate trends as well.  Small as though it may seem, interest rates are up by .125% from last week. There was a time when the ebb and flow of week to week rates was considered normal yet since the inception of Quantitative Easing, the mortgage market could never really be termed ‘normal’.
 
Part of this is a pre-reaction to the Fed Funds statement being released early this afternoon. … (0 comments)

mortgage interest rates st paul minnesota purchase refinance economy federal reserve home loans: September 10th Market Update: Are lower rates around the corner? - 09/09/14 12:01 PM
Good Morning,
 
I was looking back through past Market Update’s this morning to determine the last time we saw interest rates higher than our current climate. 
 
Are you ready for this?  July 2nd.  Outside of small ups and downs from day to day, mortgage interest rates have essentially held at the same level the bulk of the summer.  Okay, so when was the last time they were any lower than this?  October 30th 2013. 
 
Here’s why I find this information significant:  We are seeing the lowest rates in the mortgage market in nearly a full year. … (2 comments)

mortgage interest rates st paul minnesota purchase refinance economy federal reserve home loans: August 20th Market Update: Summer on a stick! - 08/20/14 02:02 AM
Good Morning,
 
I hate summer!  Not because of the Mosquitos, nor the humid hot days that signal the start of the State Fair…have you seen the forecast?!?  It’s not even the fact that on a Wednesday in the mid 70s, I’m sitting in an office and staring out a window.  
 
What do I hate about summer, the shortening days and the fact that it’ll all soon come to an end…but on the plus side, it’s now time to celebrate before it’s too late!  We have the State Fair starting later this week.  Something on a stick will have … (2 comments)

mortgage interest rates st paul minnesota purchase refinance economy federal reserve home loans: June 11th Market Update: Where are rates trending? - 06/10/14 12:12 PM
Good morning,
 
As far as rates are concerned, it brings an older song to mind. The lyrics may get stuck in your head if you’ve heard it before…’what goes up, must come down, spinning wheel got to go round’  If you feel the need to hear the whole song, it’s Spinning Wheel by Blood, Sweat and Tears.
 
Eventually, we will see that phrase turn an interest rates rise. When? That’s anyone’s guess at this point. Analysts from every sector have been in agreement that we’d be nearing 5% by now for over a year.  We’ll take ‘em while … (0 comments)

mortgage interest rates st paul minnesota purchase refinance economy federal reserve home loans: June 4th Market Update: Is housing still worth buying? - 06/04/14 01:55 AM
Good Morning,
 
Perusing the morning news as I tend to do, I came across this little article about homeownership: HERE.
 
Here is the quote I found of most interest: “And even though many experts say the housing market is recovering, many Americans aren't buying it. The survey found that 70% of Americans still believe we are in the midst of the crisis and nearly 20% think the worst is yet to come.”
 
So, this is good food for thought:  How do we inform the younger generation or at least calm their fears that this housing ‘crisis’ … (0 comments)

mortgage interest rates st paul minnesota purchase refinance economy federal reserve home loans: May 28th Market Update: Why are rates still so low? - 05/28/14 01:48 AM
Good Morning,
 
Rates are continuing to hold nice and low.  This is great for homebuyers looking to take advantage of the slower spring market and ‘get while the gettin’ is good’! 
 
So why are rates still so low when all estimates have been saying for the past year that we would be at a much higher point by this time?  The answer is fairly simple.  Supply and demand. 
 
The detail of that supply and demand takes a little more to explain. The supply is the amount of new mortgages being created either by refinance or … (0 comments)

mortgage interest rates st paul minnesota purchase refinance economy federal reserve home loans: April 23rd Market Update: Do rising stocks mean rising interest rates? - 04/23/14 01:46 AM
Good Morning!
 
Below, you will see that interest rates haven’t changed over the past week.  Which makes it a great time to clear up a common misconception that is thrown around way too often in the mortgage and housing industry.
 
What I hear many loan officers tell their clients is something like this: When the stock market rises, bonds lower and when bonds lower, interest rates rise. In many cases this can appear true.  Stocks and bonds are viewed much as opposite investment tools. When investors feel that the economy is improving, a higher percentage of their money … (1 comments)

mortgage interest rates st paul minnesota purchase refinance economy federal reserve home loans: March 26th Market Update: Has the economy recovered? - 03/26/14 02:50 AM
Good Morning!
 
Last week I touched base on the potential shift in interest rates if the Federal Reserve meeting brought information to light for investors that hadn’t been expected.  If you look to the interest rates below you will see no change but last week was a different story.  We watched interest rates raise by .25% Wednesday afternoon and have slowly moved back to the same level we’ve seen over the past month.  It’s just a reminder, that things can change swiftly and drastically. 
 
Speaking of, I was perusing this article this morning and found it interesting enough … (0 comments)

 
Matthew Royer, NMLS #  366970 (Homes Mortgage ) Rainmaker large

Matthew Royer

NMLS # 366970

Saint Paul, MN

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