Finally Some Relief

We are finally seeing a loosening of the underwriting standards coming from some mortgage bankers. There are many lending sources offering alternatives to the standard rigorous Fannie – – Mae/Freddie Mac underwriting guidelines, such as: Last year’s tax returns instead of … Read More

Daily Rate Update: July 16th-20th

Friday – July 20, 2018 Home purchase loan closings rose in June while refinancing activity declined, reports Ellie Mae. Ellie Mae’s Origination Insight for June revealed that 71% of all loans in June represented home purchases, up from 70% in … Read More

Daily Rate Update: July 9th-13th

Friday – July 13, 2018 Consumer Sentiment edged lower in early July but remains near lofty levels. The continued strength in the index is due in part to favorable job and income prospects. The preliminary July Consumer Sentiment Index came … Read More

Daily Rate Update: July 2nd-6th

Friday – July 6, 2018 The Bureau of Labor Statistics reports that Non-Farm Payrolls rose by 213,000 in June, above the 195,000 expected. April and May were revised higher by a total of 37,000. The Labor Force Participation Rate edged … Read More

Daily Rate Update: June 25th-29th

Friday – June 29, 2018 Inflation pressures remained contained in May, which is a big topic for the members of the Federal Reserve. The annual Core Personal Consumption Expenditures (PCE), the Fed’s favorite inflation gauge, rose to 2% last month, … Read More

Daily Rate Update: June 18th-22nd

Friday – June 22, 2018  Home affordability in the first quarter of 2018 hit its lowest level since the third quarter of 2008 due in part to low inventories of homes for sale on the market along with rising mortgage … Read More

Daily Rate Update: June 11th-15th

Friday – June 15, 2018 Renewed tariff woes with China are helping the U.S. Bond markets today while pushing the Dow Jones Industrial Average, S&P 500 and the NASDAQ lower as the week comes to an end. President Trump has … Read More

Fed Raises Interest Rates: What This Means For You

Dear Clients, The Fed just raised the Federal Funds rate another .25% in response to our strong economy.  This move was expected but the mortgage backed security (MBS) market is reacting negatively as the Fed implied a 4th bump possibly coming … Read More

California: Solar Powered Homes

The California Energy Commission just approved the requirement that all new residential construction will require solar power within a few years. It was a unanimous vote by the five-member panel. Currently, solar provides 16% of the electricity used in this state. … Read More

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