2019: Summer 2019 Guide to Mortgage Rates - 06/03/19 09:20 AM
 
Mortgage rates are determined by the supply and demand for mortgage bonds in the bond market.
Why Mortgage Bonds? When you get a mortgage in the US, your mortgage company is getting the money from Fannie Mae, Freddie Mac, or other "securitizers". These "securitizers" get their money by issuing bonds to bond market investors.  These bonds are called "mortgage bonds" or "mortgage-backed securities".  Therefore, the mortgage rate you pay is really determined by the supply and demand for mortgage bonds in the bond market.

The Role of the Federal Reserve As you can see from the chart, the Fed owned … (1 comments)

2019: How to Successfully Get a Mortgage in 2019 - 04/01/19 09:23 AM
 
If you've traveled in an airplane recently, you probably went through a security check at the airport.  These security checks are required by a federal law called the USA Patriot Act.  This very same law has a provision that requires mortgage companies, banks, and financial institutions to document your source of funds when you buy a house or refinance a mortgage.  In short, the US government has recruited mortgage lenders in its fight against terrorism!  In fact, lenders are required by law to ask you for:
The exact source of funds used for your down payment and earnest money deposit. … (2 comments)