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One of the greatest potential sources of confusion for prospective mortgage borrowers is the relationship between the Fed and mortgage rates. While the Fed's policy changes absolutely have a big impact on all sorts of interest rates (including mortgages), a drop in the Fed's policy rate DOES NOT result in lower mortgage rates. In fact, the OPPOSITE was true today. The main reason for confusion is the fact that there's a huge difference from an investment standpoint between a rate that governs the shortest -term transactions (The Fed Funds Rate applies to loans that last for 1 day or less) and a rate that can remain in effect for up to 30 years in the case of mortgages. Even if we use the average life span of a 30yr fixed mortgage, we're still talking about 5-10 years depending on the broader
Mortgage Rate Watch
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One of the greatest potential sources of confusion for prospective mortgage borrowers is the relationship between the Fed and mortgage rates. While the Fed's policy changes absolutely have a big impact on all sorts of interest rates (including mortga... (read more)
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MBS Commentary
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In the day just passed, the bond market finally got a chance to sink its teeth into the much-anticipated Fed announcement/forecasts/press conference. Traders were hoping to get a read on whether the Fed rate cut cycle is being treated like a fi... (read more)
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Housing News
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While the increase wasn't as strong as in July, last month's existing home sales posted a second straight month of gains and, as previously, the National Association of Realtors® (NAR) credited falling interest rates. Sales of previously owned si... (read more)
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Rob Chrisman
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The residential lending industry continues to evolve. Lenders are coming and going, moving in and out of business channels. (The latest example being Union Bank, as UBOC is rumored to be in the process of reducing its overall approved broker client b... (read more)
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Housing News
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Fannie Mae says consumer spending will continue to support the economy. The company's Economic Summary for September cites increases in auto and retail sales, real disposable personal income, and real personal consumption expenditures (PCE) as eviden... (read more)
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Housing News
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August turns out to have been among the year's strongest periods for residential construction. While analysts had expected builders to shake off some of the lethargy that has dogged the industry for most of the year, increasing at least the rate of h... (read more)
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consumerfinancemonitor.com
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consumerfinancemonitor.com
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