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Mortgage rates improved again today as the market continued to react to updates on the coronavirus outbreak. For top tier scenarios, the average lender is now offering rates not seen since 2016, with the slight exception of a few hours during the beginning of September 2019. Even then, today's rates at least match Sept 2019's rates on average. In other words, today is tied for the lowest levels in more than 3 years. To reiterate yesterday's message: the persistent availability of such low rates depends on a few factors. The biggest among those at the moment is the evolution of the coronavirus outbreak. It's definitely been responsible for the quick bump toward this week's low levels, but the trade-off is that rates should experience quick upward pressure as soon as epidemiologists can confirm
Mortgage Rate Watch
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Mortgage rates improved again today as the market continued to react to updates on the coronavirus outbreak. For top tier scenarios, the average lender is now offering rates not seen since 2016, with the slight exception of a few hours during the beg... (read more)
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Housing News
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In the throes of the housing crisis, it sometimes seemed as though FHA was the only way to finance a home purchase , especially for those with less than stellar credit or unable to come up with a large downpayment. The government sponsored insurance ... (read more)
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Rob Chrisman
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What if you bought into an investment thinking you were going to earn a decent return for 30 years and instead it paid off in four months? Not only that, but you paid 103 for it, only received 100 in four months, and now had to invest the money and e... (read more)
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Housing News
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Homeownership is apparently still one of the best ways to build wealth. The Year-End Home Sales Report from ATTOM Data Solutions shows that the typical homeowner who sold a home in 2019 realized a gain of $65,500. This is up from $58,100 in 2018 and ... (read more)
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Housing News
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December's pending home sales erased the small gain posted in November and the National Association of Realtors' (NAR's) Pending Home Sales Index (PHSI) ended the year exactly where it had begun. The PHSI is a forward-looking indicator of existing ho... (read more)
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MBS Commentary
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It's fashionable to criticize Fed Chair Powell for negatively affecting the bond market during his customary press conference on Fed Announcement days, but you can mark today as the 10th announcement in a row where rates moved lower versus the prev... (read more)
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