Daily Rate Update: March 30th-April 3rd

Wednesday – April 1, 2020 Mortgage rates plunged in the latest survey from the Mortgage Bankers Association due to the uncertainty caused by the coronavirus. The 30-year fixed-rate mortgage fell to 3.47% from 3.82% with 0.33 in points. Low rates … Read More

It’s Just the Facts: March 2020

WHEN THE BEAR BOTTOMS – The S&P 500 has fallen 34% as of Monday 3/23/20 from its all-time closing high set on 2/19/20, the index’s 12th bear market since the end of WWII. The average return for the S&P 500 … Read More

Daily Rate Update: March 23rd-27th

Friday – March 27, 2020 The broad shutdown of businesses, due to the virus, across the country is slowing growth and like Fed Chair Powell said yesterday, the U.S. could be in a recession now. However, Mr. Powell went on … Read More

Is History Repeating Itself?

History: Back in the Great Recession (2006-2010), all the subprime companies went out of business. The “snowball” in that industry started occurring with lender buybacks, when their borrowers began defaulting after a few or no payments at all by these borrowers. … Read More

Daily Rate Update: March 16th-20th

Friday – March 20, 2020 The National Association of REALTORS reports that Existing Home Sales rose 6.5% in February from January and was the strongest reading since February 2007. Sales rose 7.2% from a year ago. The median price was … Read More

Federal Reserve Slashes Rates to Zero

The coronavirus outbreak has harmed communities and disrupted economic activity in many countries, including the United States. Global financial conditions have also been significantly affected. Available economic data show that the U.S. economy came into this challenging period on a … Read More

What Happened to Mortgage Rates Last Week?

I will do my best to keep you aware of what is going on in the mortgage market as we fight through all this uncertainty in the markets caused mostly by the coronavirus scare.    Below is a  good summary of … Read More

Daily Rate Update: March 9th-13th

Friday – March 13, 2020 U.S. stocks are rebounding today after yesterday’s steep plunge. Central bank action from around the globe is a major reason for stocks moving higher around the globe at the expense of bonds. The U.S. Fed … Read More

Important Update On The Real Estate Market

Since the market is so incredibly volatile now and we am getting so many questions on what is going on with mortgage rates, I thought I would summarize what has been happening for everyone: Probably one of the best ways … Read More

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