We have a tested and tried No Doc Loan Program for Consumer Purpose Loan Situations. If your borrower meets the guidelines, they can get this financing without having to address income in any way. No Tax Returns, W2’s, Paystubs, etc. … Read More
Wednesday – November 2, 2022 It’s Fed day! The central bank is expected to raise the short-term Fed Funds Rate by 75bp, lifting the Fed Funds Rate to a range of 4.00 to 4.25%. What is most important for … Read More
By: Jessica Davis Source: https://www.housingwire.com/?p=368558 As mortgage rates hit 7% and above, loan officers are seeing new borrowers increasingly interested in options that can help reduce their initial mortgage payments. These borrowers are hoping that rates will decline enough in … Read More
Wednesday – October 12, 2022 Home borrowing costs continued their trek higher in the MBA’s latest survey hitting levels not seen since 2006. The 30-year fixed-rate mortgage rose to 6.81% from 6.75% with 0.97 points for the week ended October … Read More
Home prices are now posting the biggest monthly declines since January 2009, according to the latest Mortgage Monitor report from Black Knight. Median home prices in August fell 0.98%, only slightly better than July’s 1.05% monthly decline. The average home … Read More
Thursday – October 6, 2022 Mortgage rates eased this week and are double what they were last year. Freddie Mac reports that the 30-year fixed-rate mortgage inched lower to 6.66% from 6.70% with an average of 0.8 in points and … Read More
The Fed raises the Federal Funds Rate by 75bp and anticipates ongoing increases will be appropriate. Federal Reserve Chairman Jerome Powell says labor market continues to be out of balance, housing sector has weakened significantly, strongly committed to bringing down … Read More
Wednesday – September 21, 2022 Existing Home Sales fell slightly in August from July and was the seventh straight monthly decline. Sales fell 0.4% to an annual rate of 4.80 million units versus 4.70 million expected. Sales were down 19.9% … Read More
Thursday – September 15, 2022 Freddie Mac reports that home borrowing costs rose for the fourth straight week due in part to fears of aggressive rate hikes and sustained high inflation. The 30-year fixed rate mortgage rose to 6.02% this … Read More
We may be in this volatility for the long haul. Many economists studying the markets have released information that they believe we will slide further into a recession in either 2023 or 2024. Federal Reserve Chairman Jerome Powell has pledged … Read More