After rising at a medium-quick pace to begin the week, the past 3 days have been much calmer by comparison for mortgage rates. Today was the best example of that stability with the average lender effectively unchanged from yesterday’s latest levels. In addition, there were fewer mid-day price changes among lenders than on any of…

Mortgage Loan Rates have been spoiled, relatively, by an extraordinarily calm/narrow trading pattern in the bond market.  That’s important because the bond market directly affects the day to day changes in mortgage rates.  A narrow/calm trading pattern means bond prices aren’t moving.  The implication is that mortgage rates wouldn’t need to move much either. That WOULD be the case…

The average mortgage lender continues to offer top tier conventional 30yr fixed rates in the “high 2% to low 3%” neighborhood.  Exactly where any given quote will reside in that neighborhood depends on several factors.  The most important of those is the re-introduction of the new adverse market fee for all conventional refinances.  If you’re not up…

Fannie Mae and Freddie Mac are the two government sponsored agencies that guarantee timely payment of principal and interest to the investors who front the money that finances the American mortgage market. This guarantee means that more investors are willing to participate and at more advantageous rates for homeowners. Naturally, not every mortgage is repaid perfectly. Sometimes, payments are missed. In…

Yesterday’s policy announcement from the Federal Reserve had a chance to cause significant volatility for the bond market and the bond market is the chief ingredient in the mortgage rate equation.  But this time around, the Fed didn’t cause a measurable reaction in the mortgage market. I’m frequently asked whether mortgage rates are 0% since the Fed just kept…

It’s the end of the week and thus time, once again, for the weekly mortgage rate survey from Freddie Mac.  News organizations and even some bond market strategists (sadly) rely on Freddie’s weekly update for a sense of mortgage rate movement.  That’s why an overwhelming majority of the new mortgage rate articles on any given week come…

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Almost everywhere you look, low mortgage rates are in the news.  Experts are claiming they’ll remain low or move lower for years to come.  They might be right!  But that doesn’t necessarily mean you should wait to refinance or to lock your rate if you’re already in the loan process. It is true that mortgage rates improved noticeably earlier this…

Dan’s Portfolio “Less Hassle” Banks Loan Highlights: September 2020 * 85% LTV Primary Purchase loans to 1 Mil using Bank Statements; * 75% LTV Non Owner Purchase Loan to 1 Mil using Bank Statements * 70% LTV Primary Cash Out Refinance loan to 2 Mil, * 65% LTV Non Owner Cash Out Refinance loan to…

Mortgage Rates improved nicely today with the average lender more convincingly back under the 3.0% threshold for conventional 30yr fixed scenarios.  In general, that refers to 740+ credit and 20% equity/down-payment on an owner-occupied single family home with a loan amount at or under the conforming loan limit.  Stray very far from that path and rates can…