Mortgage Rates Jump Sharply – Reach Highest Level In 6 Weeks

Mortgage Rates climbed swiftly this week, reaching the highest point since March 17th, 2015. Mortgage rates are directly impacted by the trading of mortgage bonds on Wall Street. This week there has been rapid and deep movement to Bond Markets both in the US and Europe – like shaking a bottle of Coke before opening […]

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8 Blunders That Will Absolutely Spoil Your Mortgage Approval

  A lot of unhappy faces project through the conference call. Would-be homebuyers, real estate agents, title & escrow and a mortgage team – they all invested something. Whether it be time, money or both; watching a home purchase explode days before closing is painful. It’s also expensive for the potential homebuyer and can be […]

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When is Your Credit Score Not Actually Your Credit Score?

How about when you get a mortgage lender to pull it? Maybe. Anytime it is important is more concise. It’s frustrating no doubt: Scrimping and saving for 6+ months to have that down payment you need to get a lower rate. Dutifully watching what you assume to be your credit scores flick and flutter throughout […]

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How Does Falling Oil Price Impact Mortgage Rates?

Gas is cheap – pleasantly affordable even. Americans from coast to coast are saving money. I am saving money. How long will our good fortune last? It depends, how long will crude oil prices stay low? Low oil prices are offering a hidden gift to consumers that goes beyond the gas pump: They also indirectly […]

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Employment, Oil and Fed – Triple Whammy Spikes Mortgage Rates

Usually good employment report in itself is bad enough for mortgage rates. Combine that with a rally in Oil and a statement from a regional Fed President and you have a perfect storm. Employment Report – US added 257,000 jobs last month (much higher than the predicted number of 237,000). The November and December numbers […]

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Are We Heading Into One Of The Strongest Buying Seasons?

Every month the National Association of Realtors (NAR®) tracks metrics key to the overall health of the housing market.  There are a number of important metrics you would want to pay attention to, if housing data analysis is in your wheelhouse, or if you are pondering your next housing move. One of the most  eagerly […]

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FHA Set to Reduce Mortgage Insurance Premiums by 0.5%

“This action will make homeownership more affordable for over two million Americans in the next three years.” Spurred by the dwindling number of first-time homebuyers entering the housing market, President Barack Obama laid out plans to slash mortgage insurance premiums for Federal Housing Administration (FHA) loans yesterday. The reduction – from 1.35% to 0.85% – […]

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5 Things That Will Change For Mortgage Lending In 2015

Mortgage industry had a torrid time in 2014.  The year was marked with huge decline in production volume, mass lay offs and several multi-million (or billion) penalty/lawsuits. According to Mortgage Bankers Association (MBA), total loan production for 2014 was $1.1 trillion, down almost 40% from 2013 where it was $1.8 trillion. Purchase business surprisingly went […]

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Millennials Shaping the Housing Market…as Renters?

Collectively, Millennials represent a hugely important demographic for the Housing Market. Representing 95 million people ages 18-34 that have, historically, driven the first time-buyer landscape. However, in the first quarter of 2014, homeownership for the Millennial demographic declined to 36.2 percent, down from 36.8 percent in 2013 and the lowest on record since the Housing […]

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Fed to Stop Buying Mortgage Bonds – What’s Next For Rates?

In a momentous decision Federal Reserve (called Fed in short) decided to stop buying mortgage and treasury bonds. After 6 years of doing so, Fed finally decided its time to put a stop on it. So, how does it impact mortgage rates? But, before that – lets get a little bit of History – shall we? […]

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