HomePath Renovation
HomePath Renovation Mortgage allows a borrower to purchase a property that requires light to moderate renovation. One loan amount includes both the funds for the purchase and renovation – Up to 35% of the as completed value, no more than $35,000. Low down payment and flexible mortgage terms No mortgage insurance Available for primary residences, second … Read more
Mortgage Market Update
Concerns about the pace of global economic growth and continued violence in the Middle East helped mortgage rates improve this week. Very strong demand for this week’s longer-term Treasury auctions was also favorable. As a result, mortgage rates moved lower during the week. Biggest economic news this week will be Tuesday’s FOMC meeting. The … Read more
Mortgage Market News
Conforming Limits: 1 unit $417,000; 2 unit $533,850; 3 unit $645,300; 4 unit $801950 These rates do not reference a specific loan program; rather, they reflect general market conditions, which are subject to change at any time. Credit risk pricing and how it impacts your interest rate/discount points (cost to buy rate down): Rates change … Read more
Credit Risk Pricing – Mortgage Rates
The cost of mortgage rates will go up beginning next year. Not due to the market conditions, rather how investors price the risk of the loan (interest rates=credit risk pricing)! Credit risk pricing and how it impacts your interest rate/discount points (cost to buy rate down): Rates change daily – Mortgage loan interest rates and … Read more
Mortgage Market News
Market News that may impact mortgage rates this week includes: Tuesday – Fed Meeting, Retail sales and PPI Wednesday – CPI and Industrial Prod. Thursday – Housing Starts and Philly Fed Conforming Limits: 1 unit $417,000; 2 unit $533,850; 3 unit $645,300; 4 unit $801950 These rates do not reference a specific loan program; rather, … Read more
11.19.2010 Mortgage Market Update
Wow – What happen to mortgage Rates?? They were at the lowest levels in decades just a few weeks ago. Not sure exactly why, but would imagine there are several factors that may influence them right now. Investors always are trying to predict what the market is going to do and there are few reasons for … Read more
Mortgage Market Update
Conforming Limits: 1 unit $417,000; 2 unit $533,850; 3 unit $645,300; 4 unit $801950 These rates do not reference a specific loan program; rather, they reflect general market conditions, which are subject to change at any time. Credit risk pricing and how it impacts your interest rate/discount points (cost to buy rate down): Rates change … Read more
Mortgage Market Update
Mortgage Rates End Higher The volatility in mortgage rates continued this week. The average 30-year fixed rates dropped, but mortgage rates moved higher by mid week. The Fed’s announcement last week initially helped mortgage rates. The program injects dollars into the economy, but weakens the value of the dollar. When the value of the dollar falls, then the … Read more
Mortgage Market News
Rising rates early in last week were partially offset by improving rates later in the week. In the end, mortgage rates finished the week just a little higher. On Wednesday, the Fed is expected to announce a new program to purchase Treasury securities (quantitative easing) to boost the economy. Based on comments from Fed officials, investors … Read more
Mortgage Market News
The economic data released last week continued to show low inflation and modest economic growth. As a result of no real surprises, mortgage rates ended the week with little change. This week, Industrial Production, an important indicator of economic growth, will be released on Monday. Housing Starts will come out on Tuesday. The Fed’s Beige Book, revealing … Read more
