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Why do mortgage rates differ from lender to lender? The answer is actually the opposite. The mortgage rates are very similar from lender to lender if you truly compare the same loan product for the same borrower for the same property for the same loan amount. So I used the word “same “ four times . What it really means is plain English is that if you were going to shop quality reputable lend
Tomorrow morning it will be 6 full days since the Government shut down and we have had 1 full work week without Government working at its full capacity. How has it impacted our real estate industry, especially the mortgages?
The business is moving forward as usual for most of us and has not delayed any closings yet. The reason we have not seen much impact is because most of the home closing
Mortgage Rates and Your New Home: Should They Be Connected? Most people would say yes these have to be connected. My answer is maybe. When most of us decide that it is time to buy a home; the biggest reason for that is because we need a new home. Maybe our family has grown, we have gotten married or divorced , or changed or started a new job. Yes, it is extra nice if the market is in our favor
By now everybody has heard that rates have come down from the highs that we saw in August and beginning of September. The big catalyst for putting a brake in the runaway train of rates was no other than Ben Bernanke’s , Federal Reserve Chairman stating that they are not going to taper the Federal Reserve’s 85 Billion bond buying purchase just yet. If anybody remembers, that is how we got start
We have had some calmness and even some downward revisions in the mortgage rates for the last 3-4 days or so but yesterday after hours we saw some storms brewing again .US Treasury prices were choppy overnight but edged slightly higher despite hawkish comments from SF Fed President John Williams after the close yesterday. He was quoted as saying the Fed’s response may be adequate to st
The mortgage rates got off their stabilizing and holding trend and went right back to moving higher at an unprecedented rate. The mortgage rates have moved up almost 1% since the last jobs report in May and with Federal Reserve’s comments about tapering the asset purchase program.
US Treasury prices had already moved lower overnight as equity prices were higher after dovish comments fro
Most of my Realtors ask me these questions about the FHA condos and even if the condo project is FHA approved , it does not mean that it is a slam dunk transaction . There are some more qualifications that the condo project has to meet .
I have put together a list of Frequenly Asked Questions about FHA Condos .
· Q. Have the spot approvals gone away
Let us start with the real estate sales number that is most important to us . Pending home sales, a forward-looking indicator based on signed contracts, rose 6.7% in May, the highest level since December 2006. On a year-over-year basis, pending home sales were 12.1% higher than May 2012.
New home sales rose 2.1% in May to a seasonally adjusted annual rate of 476,000 units from a rate of 466
The drama that has been ongoing in the stock market and mortgage rates for the last 3 weeks or so continues today. The stock market started out higher and the mortgage market improved overnight, meaning our rates were improved from yesterday but that was old news. Since the morning,
US treasury prices have given up all the gains from overnight and sold off and our rates have worsened an
Over the last few days, we have seen unprecedented volatility in mortgage rates. In general, mortgage rates follow the long-term (10-year) US government bond rates, but they also vary based on investor demand for mortgage-backed securities. So when long-term bond rates move, the mortgage rates can move either more or less than the government interest rates, depending on demand for mortgage-backe
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