Daily Rate Update: March 8th-12th

Friday – March 12, 2021 As the nation continues to reopen and tries to get back to normal, consumer attitudes are beginning to spring. The March Consumer Sentiment Index rose to 83 from 76.8 in February and above the 80 … Read More

Position Yourself for Volatility

Below is an important update on the state of the market. Summing it up, the volatility continues, today being a really bad day for us in the mortgage market with MBS (Mortgage Backed Security) priced in the tank again. If … Read More

Daily Rate Update: March 1st-5th

Friday – March 5, 2021 U.S. job growth surged in February with big gains seen in the ailing leisure and hospitality sectors of the economy. The Labor Department reports that Non-Farm Payrolls rose by 379,000 in February up from 166,000 … Read More

It’s Just The Facts: February 2021

START RIGHT AWAY – A child born in February 1999 (22 years ago) who started college in the fall of 2017 is scheduled to graduate from an average 4-year public in-state college in May 2021.  If the child’s parents had … Read More

Daily Rate Update: February 22nd-26th

Friday – February 26, 2021 Inflation data for January was inline with estimates though pockets of prices have surged. For instance, lumber prices have soared over the past year which is or will be added the price of a new … Read More

Pending Home Sales Drop

There is just not enough homes on the market. That’s the bottom line. U.S. pending home sales dipped – this time, down 2.85% in January from December, according to a report from the National Association of Realtors. Low mortgage rates … Read More

Daily Rate Update: February 15th-19th

Friday – February 19, 2021 The National Association of REALTORS reports that Existing Homes Sales rose 0.6% in January from December to an annual rate of 6,690,000 annualized units. Sales were up nearly 24% from a year ago. Gains were … Read More

A Message From The President: Rising Rates

Dear clients – You might have heard about the upwards pressure on mortgage rates. It is true and it started to materialize at the start of this week as evidenced in our pricing. Before it was just a fear in … Read More

Daily Rate Update: February 8th-12th

Thursday – February 11, 2021 Home borrowing costs were unchanged this week and remain at historically low levels. Freddie Mac reports that the 30-year fixed-rate mortgage held steady at 2.73% with 0.7 in points and fees. A year ago at … Read More

It’s Just The Facts: January 2021

I OWE ABSOLUTELY NOTHING! – 37% of US homeowners do not have any outstanding debt on their primary residence, including no mortgage debt or any debt associated with a home equity loan (source: American Community Survey). HOW CHEAP? – At … Read More

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