Here's another chance to lock your rate at the lowest in history! Will it go lower? Maybe but not by much. It's unpredictable too, so take your 3% and smile because you'll have bragging rights around the BBQ this summer! Oh, wait....
It wasn't a surprise to hear that smaller no-name mortgage companies were retreating from the marketplace due to the extreme volatility. The mortgage business has become dependent upon the Fed's support to backstop the agency market (Fannie/Freddie), which leaves the...
MND's 30-yr conforming rate hit 4.0% on Friday, but with today's Fed support, we're back into the mid-3s. It should keep buyers looking at homes, at least online! For those who are curious about the relationship between the Fed Funds Rate, and the 30-yr:
Rates changing from 2.875% to 4.0% in less than a week - wow! There is some hope that the Fed will throw more money at the MBS market next week. From MND: With all that in mind, some smart people are convinced the Fed will announce such a balance sheet juicing at or...
Did you lock? If not, you only lost an 1/8% (or so) today. Tomorrow! Mortgage rates have exploded higher over the past day and a half as the bond market sends threatening signals about a big picture bounce off the recent lows. This is made all the more jarring by...
Even though the ten-year yield has plummeted, mortgage rates have been slow to follow - they actually went up a little today. Today, we heard the all-time best excuse, which explained everything: "We're too busy", said the mortgage industry, which is code for 'we are...
Does this mean mortgage rates will get into the mid-2s? Probably not - the 10-year yield hasn't moved much, and mortgage lenders are slow to match any declines. But we could see 2.75% this week! The Federal Reserve announced an emergency rate cut Tuesday of half a...
Mortgage rates officially hit all-time lows this morning. Even so, it continues to be the case that Treasury yields (often referred to as the basis for mortgage rates) are falling much faster. That's because Treasuries aren't actually the basis for mortgage rates. ...
The MND's survey above are today's rates with no points, which means that homebuyers who are willing to pay a point or so will be getting a mortgage rate starting with a 2! While there is certainly a big concern about the coronavirus affecting the world economy - and...
Mortgage Amount 30-Yr Rate Monthly Payment $540,000 9.0% $4,345 $688,000 6.5% $4,349 $810,000 5.0% $4,348 $885,000 4.25% $4,354 $1,000,000 3.25% $4,352 The same buyer who qualified for a $810,000 loan amount just 15 months ago can now borrow $1,000,000 and get the...
