Daily Rate Update: April 12th-16th

Friday – April 16, 2021 The FNMA 30-year 2% coupon hit 99.38 on March 30 and rose to a high of 101.09 yesterday. That’s a near 20% increase in the price of the security in 12 trading days. At the … Read More

It’s Just The Facts: March 2021

STATUS QUO FOR TWO MORE YEARS – The most recent meeting of the Fed ended on 3/17/21 with their interest rate forecast calling for no interest rate hikes by the Fed until at least 2023 (source: Federal Reserve).  HAVE KIDS, … Read More

Daily Rate Update: April 5th-9th

Friday – April 9, 2021 The March Producer Price Index (PPI) or wholesale inflation heated up, coming in up 1% versus the gain of 0.5% expected. The Core rate jumped 0.7%, above the rise of 0.2% estimated. Annually, PPI is … Read More

Home Sale Prices Hit All-Time Highs

Homes may be the most expensive they have ever been but that’s not stopping buyers from snatching them up. According to a new study by Redfin, the median home price rose 16% annually to a record-high of $331,590 for the week … Read More

Daily Rate Update: March 29th-April 2nd

Thursday – April 1, 2021 Home borrowing costs were essentially unchanged this week and remain at historically low levels. Freddie Mac reports that the 30-year fixed-rate mortgage rose to 3.18% from 3.17% with 0.7 in points and fees. A year … Read More

How To Win In A Bidding War

Bidding wars are the name of the real estate game. And when there is a bidding war, cash is king. A recent Redfin study confirmed that it’s a good way to win your dream house in a market this crazy. … Read More

Daily Rate Update: March 22nd-26th

Friday – March 26, 2021 Inflation remained tame in February as the markets look for any signs of higher prices. The annual February Core PCE slipped to 1.4% from 1.5% in January while the monthly rate rose 0.1%. The runaway … Read More

Inflation: To be nervous or not to be nervous?

Just a few things are impacting the financial markets this week: stimulus checks, inflation angst, the Fed, stepped up vaccinations, COVID loosening its grip and the reopen trade. Let’s start with the first one: stimulus checks. The White House signed … Read More

Daily Rate Update: March 15th-19th

Friday – March 19, 2021 Fannie Mae released its March 2021 Commentary revealing that the housing market will remain resilient this year, despite mortgage rates creeping higher. Economic growth expected to speed up through spring as many more states lift … Read More

You May Have Missed the Refinance Window

For the first time in months, the average 30-year fixed-rate went above 3.00%. Those who refinanced earlier this year or last year are set for the life of their mortgage. Those who have not refinanced may be kicking themselves. It … Read More

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