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Category: Northeast Financial News

Northeast Financial is now officially licensed to originate loans in the Empire State!

Northeast Financial, a trusted mortgage lender, is thrilled to announce we’re now licensed to originate loans in New York! Whether you’re a first-time buyer seeking your perfect home, a homeowner looking to refinance for better rates, or simply want to consolidate debt, we have the solutions you need. Experience the Northeast Financial difference: Competitive rates: Secure…
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Everything’s Relative, And Rates Had a Relatively Good Week

While it’s possible to accuse mortgage rates of experiencing volatility over the past few days, this week was exceptionally calm compared to last week.  So “everything’s relative,” and relatively speaking, that’s a win. Here’s a snapshot of the action as told by 10yr Treasury yields, which tend to be moving in the same direction as…
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If The Fed Didn’t Hike, Why Did Mortgage Rates Hit Long Term Highs?

This week’s main event was the scheduled policy announcement from the Fed. As was the case two meetings ago, the Fed opted to hold its policy rate unchanged, but almost every other interest rate in the US moved sharply higher. This counterintuitive movement is fairly common when it comes to the 8 Fed meetings each…
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Rates Are Jumping Faster Than Most People Know

Welcome to February 2023, where we’ve seen the first really serious leap higher in rates since October. At the beginning of the month, the average 30yr fixed rate was around 6%.  Now it’s closer to 7%.  That’s not a typo, but it may be a surprise considering the widespread media coverage of the Freddie Mac…
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Rates Played Chicken With The Fed (And Lost)

Mortgage rates hit 5 month lows last week but quickly jumped to the highest levels in more than a month this week. While last week’s strong jobs report certainly served as a catalyst, there’s more to the story. Fortunately, the story is fairly simple.  It began in October when rates hit decades-long highs and finally began…
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Mixed Signals in Housing Data and Small-Scale Volatility in Rates

The last two weeks of December are unlike almost any time of year in terms of market movement and what we should read into it, but there were several housing-related reports that are worth considering as we head into the new year. The National Association of Homebuilders (NAHB) published its builder confidence numbers on Monday. …
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Fed Says: Don’t Get Too Excited About Rates Just Yet

There’s no question that last week was an exciting one for rates. On Wednesday, the average 30yr fixed was fairly close to the highest levels since 2002. The following afternoon, it had fallen more than half a percent to the lowest level in nearly 2 months–the biggest single day drop on record. While rates are…
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4.99% Mortgage Rates?! That’s Old News

The big monthly jobs report from the Labor Department (officially “The Employment Situation) is one of the most reliable sources of volatility for interest rates.  While this was much easier to observe before the pandemic, key economic reports have been getting more and more attention as the market looks for evidence that inflation and tighter…
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Why Some Rate Quotes Are So Different And Why “Points” Are On The Rise

Why Some Rate Quotes Are So Different And Why “Points” Are On The Rise Weekly Newsletter May 06, 2022 4:26 PM ET It was yet another tough week for the mortgage market with rates rising to their highest levels since 2009, but how high have they actually risen? There’s a correct answer and then there’s the…
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