Category: Uncategorized

We came into this week expecting the Fed’s Dot Plot to set the tone, or at least to create a good amount of movement in rates, and that’s exactly what happened. The dot plot refers to a chart that appears 4 times a year in economic projections released by the Fed.  Projections are not the…
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It’s been a good week for extremes in the housing market with rates at 3 month lows, pending home sales at “record” lows, and conforming loan limits up to record highs. Here’s why at least two of those three things aren’t very interesting. Let’s start with what was probably the week’s most dramatic housing market…
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In the realm of financial opportunities, few avenues are as promising as tapping into your home’s equity. Whether you’re eyeing home improvements, debt consolidation, education costs, or simply seeking a financial cushion, a Home Equity Line of Credit (HELOC) could be the perfect solution. And when it comes to securing your equity with a Fixed-Rate…
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When business owners seek additional funding or want to tap into their property’s equity while preserving their existing low fixed-rate mortgage, securing a fixed-rate second mortgage can be an excellent solution. By leveraging business bank statements as qualifying documents, entrepreneurs can access the necessary funds without jeopardizing their current mortgage terms. This article explores the…
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Seemingly overnight, the internet is awash with news regarding a “new,” unfair tax on mortgage borrowers with higher credit scores. Some have gone so far as to suggest that someone could intentionally lower their credit score in order to get a better deal. Before you stop paying your bills in the hope of cashing in,…
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Mortgage rates have fallen quite a bit since hitting a long term peak in late October. By the middle of this week, the average 30yr fixed rate was more than 1.25% lower from the highs and at the best levels in more than 4 months. Rates have fallen due to improvement in the bond market,…
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Mortgage rates have been all over the map recently, both in terms of their movement and in their variation between lenders.  The disconnects are so big as to require a deeper explanation. Let’s quantify “big.”  Best-case-scenario rates for a conventional 30yr fixed are down about half a point from last week on average and more than…
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It was a week for paradoxes on several fronts, most notably when mortgage rates moved lower just after the Fed floated the idea of an even bigger hike. There’s a popular misconception that the Fed sets mortgage rates, or controls them directly in some way.  They don’t. The Fed sets the Fed Funds Rate (FFR)…
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In a year where mortgage rate volatility has been extreme, this week made everything else look tame by comparison.  While it will never show up in weekly survey numbers, the 3-day jump between last Thursday and this Tuesday was one of the biggest on record, taking the average 30yr fixed quote from 5.55% to 6.28%…
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