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Rates Recover Rapidly After Inflation Data

Mortgage rates spiked abruptly last week after several economic reports showed the economy doing better than expected. Now this week, key inflation data showed prices falling faster than expected. Rates responded with a full recovery. If rates could only choose one thing to be afraid of, it would be inflation.  Rates are based on bonds.  Bonds…
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Mortgage Rates Jumped Over 7% This Week, Even if You Heard They Were 6.71%

Mortgage rates have been hovering in the high 6’s for weeks, but they broke above 7% on Thursday. At the same time, multiple news outlets reported a 30yr fixed rate of 6.71%. Who’s lying? While the 6.71% news may be prolific, it is all traced back to one source: Freddie Mac’s weekly rate survey.  This…
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Resilience in The Housing Market as Powell Sees More Hikes Ahead

A majority of the housing market data on any given month tends to come out mostly on the same week. This was that week and the takeaway was that the housing market could be doing worse. Some might even argue that we’re seeing some resilience relative to the rate landscape. Let’s refresh our understanding of…
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Rates Seen Staying Higher For Longer. Blame Canada?

In a surprising turn of events, this week’s biggest market mover for interest rates was a policy announcement by the Bank of Canada (BOC). The event was credited for prompting a re-think of the US Federal Reserve’s rate outlook. Specifically, the BOC hiked rates despite about half the market believing it would hold steady.  While…
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Exploring Alternative Documentation Options for Non-QM Second Mortgages with Northeast Financial

Securing a non-qualified mortgage (Non-QM) second mortgage can be a transformative financial tool for homeowners. Whether you are looking to tap into your home’s equity, consolidate debt, or fund a major expense, Northeast Financial is here to guide you through the process. In this article, we will explore how Northeast Financial can help you leverage…
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What Debt Ceiling? And Who’s Lying About The Jobs Report?

After dominating the news cycle for weeks, the debt ceiling issue is suddenly resolved and the bond market doesn’t seem to care. The jobs report proved to be far more relevant, but with half of it indicating a much stronger labor market and the other half saying the opposite, who’s telling the truth and why…
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Leveraging Business Bank Statements for a Fixed-Rate Second Mortgage

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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Do Rates Care About Debt Ceiling?

It was nearly impossible to avoid news regarding the debt ceiling this week, but how much does it actually matter? Let’s make sure we’re on the same page first.  What follows are a few NON-POLITICAL thoughts on the debt ceiling, which is different than a “default.” The debt ceiling has to be increased periodically in…
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All About Ceilings

The debt ceiling debate is all over the news, but it’s a different ceiling is commanding more of the bond market’s attention.  Still, we wouldn’t say the debt ceiling is irrelevant, so let’s take a brief moment to address its implications for the housing and mortgage markets. The most direct effect of the debt ceiling…
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Navigating the Challenges: Buying a Home in Today’s High-Interest Rate Market

In recent times, prospective homebuyers have been faced with the challenge of purchasing a home in a market with higher interest rates. Rising interest rates can have an impact on the affordability of a mortgage and the overall cost of homeownership. However, with careful planning, research, and the right strategies, it is still possible to…
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