Daily Rate Update: August 27th-31st

Friday – August 31, 2018 Consumer Sentiment slipped in August to its lowest level since January as its current economic conditions component declined. The final Consumer Sentiment Index for August came in at 96.2, below the 97.9 recorded in July … Read More

It’s Just The Facts: August 27, 2018

The Latest In Housing News: In the last year, average home prices increased in all 50 states. Nevada’s +17.0% average home price gain led the nation over the last year – Federal Housing Finance Agency American households headed by individuals … Read More

Daily Rate Update: August 20th-24th

Friday – August 24, 2018 The U.S. economy has been growing at a strong pace in 2018 with second quarter Gross Domestic Product at a robust 4.1%. This week, Target CEO said, “We’re currently benefiting from a very strong consumer … Read More

Daily Rate Update: August 13th-17th

Friday – August, 17, 2018 Ellie Mae released its Origination Insight Report for July this week showing that the percentage of closed purchase loans held steady at 71% of total loans closed in July for the second straight month. Ellie … Read More

Daily Rate Update: August 6th-10th

Friday – August 10, 2018 Rising home prices and mortgage rates pushed housing affordability to lows not seen in a decade in the second quarter of 2018, reports the National Association of Home Builders. From the beginning of April to … Read More

Daily Rate Update: July 30th-August 3rd

Friday – August 3, 2018 And the survey says … 157,000 jobs were created in July, below the 190,000 expected. The headline number was a miss, but a look under the hood shows many strong data points. The headline number … Read More

It’s Just The Facts: July 30, 2018

The Latest in Housing News: The median sales price of existing homes sold in the US in June 2018 was $276,900 – a record price. However, the median sales price of existing homes sole in July 2006 is equal to … Read More

Daily Rate Update: July 23rd-27th

Friday – July 27, 2018 Economic growth surged in the second quarter of 2018 due in part to a big rise in consumer spending. The Bureau of Economic Analysis reported that Gross Domestic Product rose 4.1% from the 2.2% recorded … Read More

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

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