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

Daily Rate Update: March 2nd-6th

Friday – March 6, 2020 And the survey says … 273,000 jobs created in February, well above the 170,000 expected. Adding to the good news, December and January were revised higher by a total of 85K. The three-month average of … Read More

The Stock Market and Mortgage Rates

The carnage in global stock markets continues this morning with US stocks plunging after the Dow suffered its worse daily point loss ever in yesterday’s session (-1,190). Stock Investors are seemingly rushing to the exits screaming, “get me out,” and … Read More

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