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48 Meriden Rd, Suite 1, Middlefield, CT 06455
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News

Unlock Homeownership with Our 0% Down Purchase Program

At Northeast Financial, we know how challenging it can be to save up for a down payment on a home. That’s why we’re excited to offer our exclusive 0% Down Purchase program, designed to help you achieve your dream of homeownership with no initial down payment required. How It Works Our 0% Down Purchase program…
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Unleash Your Investment Potential: DSCR Loans for Savvy Real Estate Investors

Greetings, real estate investors! Are you looking to strategically expand your portfolio without the traditional income verification hurdles? If so, then look no further than DSCR (Debt Service Coverage Ratio) Loans. This financing option offers a powerful tool for experienced investors like yourself. DSCR loans allow you to qualify for financing based on the projected…
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Navigating FHA Approved Condos: A Guide to Finding Your Dream Home

For prospective homebuyers exploring the realm of condominium living, FHA-approved condos present a promising avenue towards homeownership. These properties, endorsed by the Federal Housing Administration (FHA), offer a blend of affordability, accessibility, and regulatory assurance that can make the home buying process smoother and more manageable. Understanding what FHA-approved condos entail and how to identify…
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Worst Day For Rates in More Than a Year After Jobs Report, But It’s Not as Bad as it Sounds

Interest rates have a long and reliable history of reacting to the jobs report more than any other monthly economic data and the most recent example sent mortgage rates screaming higher at the fastest pace in over a year. Labor market strength = higher rates, all other things being equal, and Friday’s NFP or “nonfarm…
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Highest Mortgage Rates in More Than a Month, But There Are Silver Linings

So far, 2024 has been distinctly different from the end of 2023. November and December saw rates move lower at one of the fastest paces in decades. In contrast, January has delivered a fairly consistent uptrend with the average lender now at the highest levels in more than a month. Frustratingly, widespread media coverage suggested…
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Let’s Talk About The Spread Between Mortgage Rates And The 10yr Treasury

Seemingly overnight, there is widespread media attention on the spread between mortgage rates and the 10yr Treasury yield. There shouldn’t be. Why are we talking about the 10yr Treasury yield if we’re focused on mortgages and housing? Simply put, the 10yr Treasury note is the most dominant benchmark (touchstone, bellwether, yard stick, etc) for all…
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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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Calm Week to End Not-So-Calm Year

While this week was uneventful and while 2022 was more volatile in terms of movement in the housing/mortgage market, we can still reflect on 2023 as a year of extremes. Incidentally, that thesis is supported by some of the only economic data released this week.  Pending Home Sales came out perfectly unchanged from last month,…
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Have Rates Improved Too Quickly And Is The Fed Being Rational?

The astonishing pace of the recent drop in interest rates has raised some questions regarding sustainability and justification, but we can clear them up with a single chart. The Federal Reserve doesn’t ultimately dictate rate levels, but it has a huge impact on how rates move.  The Fed has been credited with fueling the improvements…
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The Dots Put an Exclamation Point on Record-Breaking Drop in Rates

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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