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The first 2 days of the week marked the best 48-hour stint for mortgage rates since March 2020, and one of the best on record.  Such victories require a rarely seen combination of factors, but at least one ingredient is the nearby presence of equally big moves in the other direction.  Yesterday filled that role with rates…

Complete Reversal as Mortgage Rates Erase Yesterday’s Gains On a normal week, we can follow day to day movement in rates and point out how far behind the times the week-to-week changes are.  This time around, the week-to-week changes may have the upper hand due to the extreme 2-WAY volatility seen in the day-to-day movement.  Specifically, rates…

Financial markets were intently focused on Russia’s invasion of Ukraine Thursday.  Such things tend to push interest rates lower and today was no exception, but the details matter. There are all sorts of interest rates, and there’s a lot that happens in the bond market before mortgage lenders translate bond prices/yields into lockable mortgage rates.  Moreover, there are many hours…

Fannie Mae’s economists have again stepped up their expectations for the Fed’s response to escalating inflation. A 7.5 percent annual increase in the January Consumer Price Index (CPI), a 40-year high, prompted Fannie’s Economic & Strategic Research (ESR) Group to raise its forecast for a March increase in the Fed funds rate from 25 basis…

There have been a few hours of a few days over the past week where mortgage rates have been just a bit higher than they were yesterday afternoon.  But for all practical purposes, rates continue operating in line with the highest levels since May 2019.  Despite a multitude of news stories suggesting 30yr fixed rates somewhere in the medium-high…

Interest rates ticked up to the highest level in over two years in response to another increase in consumer prices. Let’s discuss what happened and what to watch for next week. 40-Year High Consumer Inflation Last Thursday, the Bureau of Labor Statistics (BLS) reported the Consumer Price Index (CPI) came in at a scorching 7.5%…

 Loans for Self Employed Borrowers or Borrowers with w’2 and Self Employment income….  Rate and Term Refinance, Primary Home Purchase Loans 85% LTV to 1.5 Million 80% to 2.0 Million Second home & Investment property Mortgage Loans to 75% LTV (Loan to Value) to 2 million+ 30-40 Year Fixed Term Mortgage Loan with I/O Loan Option for…

Rates have been trending higher in fits and starts since August 2020, but the mortgage market was insulated from much of the pain due to its disconnect from Treasuries in 2020 (they typically correlate very well). 2021 saw the correlation return despite a few divergences due to things like mortgage-specific fee changes.  By the end of 2021,…

Mortgage rates moved higher at their fastest pace in several years at the beginning of January.  Even though the volatility died down after the first week, the month ended up matching last February with the average lender moving up at least half a percent on the average 30yr fixed conventional scenario. If we look back to September…

What is a 40-year Fixed Rate Loan with a 10 Year Interest Only Feature Loan? Are you looking to take advantage of today’s Low Interest Rates for longer term? Maybe you seek a lower initial home loan payment after cash out? With Rates on the rise, you are not alone! Our lending products are often…