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Mortgage rates moved modestly lower today, bringing the average lender very close to all-time lows.  The caveat continues to be that day-to-day rate changes have been small ever since hitting the confirmed all-time lows on June 11th.  Realistically, if you locked in a rate any time in the past 4 weeks, you did very well.  The same…

Mortgage rates joined many other sections of financial markets late yesterday in doing almost absolutely nothing.  Both stocks and bonds were almost perfectly flat.  Neither was overly interested in responding to economic data or Round 2 of Fed Chair Powell’s congressional testimony.  That’s not too surprising considering today’s economic data wasn’t hotly anticipated and Powell…

NOTE: I hope this finds you and your loved ones safe and sound! Our Lending Team and Loan Networks are helping families work thru today’s financial challenges facing many Homeowners.  While Mortgage Rates are at all time loans on many products, Mortgage Backed Securities investors are assessing the Forbearance details from FNMA recently for 3 Million…

Mortgage rates dropped quickly today.  This wasn’t necessarily destined to be the case this morning, but after the Fed released its most recent policy announcement, mortgage-backed bonds improved significantly, thus allowing lenders to offer lower mortgage rates via mid-day price changes. Bonds loved what the Fed had to say because the announcement unequivocally committed to ongoing bond purchases in…

Today’s big question is really for “how long” are rates going to stay so low? Yesterday’s data has direct implications for tomorrow’s significantly more important data (the big jobs report).  If it were to sing a similar tune, there’s little doubt that Treasury yields would remain under pressure to move higher.  But what about mortgage rates?  Yes,…

This past week, Freddie Mac reported the 30-year home loan rate with Full Documentation hit an average all-time low of 3.15%. As the unofficial start of summer has begun and states continue to reopen, this is welcome news, but there is even more to the story. Refinance activity remains elevated and with the average refinance…

Treasuries declined along the curve on Tuesday, as optimism surrounding a potential coronavirus vaccine and hope for a recovery in business activity seemed to reduce demand for U.S. government bonds. The perceived risk-on mood seemed to overshadow fresh reports that the Trump Administration was displeased with Beijing, and was looking at a range of options…

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Home loan rates remain near historic lows and have stabilized, thanks mainly to the Federal Reserve, as the central bank continues to purchase mortgage-backed securities on a daily basis. The Fed also helped rates this past week in another way, but it may have been unintentional. Fed Chairman Powell spoke last Wednesday and uttered remarks…

NOTE: While Rates are at all time lows or close on all of our Conventional Loan Products like FNMA, FHA, and VA Loans, one of the effects of the Coronavirus situation was the enormous destabilization of the Jumbo Loan and Non QM mortgage-backed securities (MBS) market that happened back in mid-March. With recent Market corrections,  it…