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It began last week. It was subtle--so subtle as to pass largely unnoticed. But the gentle drift toward slightly higher rates has taken bigger steps so far this week. As of this afternoon, the average lender is quoting the highest rates since late September! That's quite a realization when juxtaposed with last week's (misleading) headlines about "all-time lows." If the highest rates in nearly a month sound scary, don't freak out just yet. During that time, rates have held inside one of their narrowest ranges ever. By the time we consider how low rates are in the bigger picture there's actually never been a comparable example of "this low for this long." The lift-off hasn't proven to be too alarming just yet either. Many lenders are still quoting the same note rates today versus their recent
It began last week. It was subtle--so subtle as to pass largely unnoticed. But the gentle drift toward slightly higher rates has taken bigger steps so far this week. As of this afternoon, the average lender is quoting the highest rates since late Sep... (read more)
The most recent Fannie Mae's Lender Sentiment Survey focuses on the complexities of lending to the condominium market. The company stresses that this type of housing can play an important role in narrowing the supply gap for affordable housing option... (read more)
The Mortgage Bankers Association (MBA) says there was little change in mortgage application activity during the week ended October 16. MBA's Market Composite Index, a measure of mortgage loan application volume, dipped 0.6 percent from the prior week... (read more)
Bonds Find Footing Early, But Aren't Able to Go Green
It's safe to say the bond market found its footing today, but that is only a reference to TODAY (not necessarily "finding footing" in the bigger picture).... (read more)
Mark Calabria, director of the Federal Housing Finance Agency (FHFA) used the annual convention and expo of the Mortgage Bankers Association to announce changes in the agency's requirements for certain operations of the government sponsored enterpris... (read more)
Want some guidance? “If you get a loan at a bank, you’ll be paying it back for 30 years. If you rob a bank, you’ll be out in 10 years. Follow me for more financial advice!” Plenty of MLOs will need financial advice, given thei... (read more)
Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc.