The Federal Reserve Surprises

September 25, 2013


The Federal Reserve Board of Governors surprised almost all Fed watchers when it decided at its Sept. 18 meeting not to start tapering with its $85 billion bond-buying program. The program consists of the Fed buying $45 million in …

Mortgage Rates Climb in an Unsettled Market

August 21, 2013


Mortgage rates continue to climb to higher levels as the market prepares for an eventual Federal Reserve Bank decision to pull back from its bond-buying program.

The Fed has been buying $85 billion dollars worth of bonds and mortgage …

Looking Beyond the Squall

July 17, 2013


Sometimes, it is a good idea to look beyond the debris left behind by the squall and do an assessment of where things are.

Yes, interest rates have spiked from recent historical lows of several weeks ago when mortgage …

Rates Take Spike After Fed Comments

July 4, 2013


June was a horrible month for mortgage interest rates. Interest rates hit their recent lows in May when the average 30-year fixed rate loan was 3.4%. Rates for the last week of June hit 4.45% a jump of just …

Mortgage: Rates Jump Higher

June 6, 2013


Late May was the worst period for mortgage interest rates in recent years.

Before the turnaround in the markets interest rates on 30-year fixed conventional mortgages was in the mid 3-percent range. FHA government backed mortgages were 3.25 percent …

Volatility In The Markets

May 23, 2013


Mortgage interest rates have become increasingly volatile in May. Money is flowing into the stock market and out of the bond market. When bonds sell off, yields go up. Mortgages usually follow the bond market.

Although recent mortgage interest …

Interest Rates Are Still Attractive

May 9, 2013


The only constant about mortgage interest rates is that they do move. Depending on the economic news of the day rates will go higher or they will go lower.

Case in point was the first week of May. The …

Economic Numbers Continue to Impress

March 13, 2013


The February employment numbers blew the doors off consensus numbers. In February, the economy produced 236,000 new non-farm payroll jobs. The consensus was around 165,000. So the new numbers were 71,000 higher then predicted. The unemployment rate fell from …

Mortgage Standards Getting Tougher

January 16, 2013


There is one constant in the mortgage industry these days. It is not easy getting a mortgage. Well, folks, coming to you in 2014 – even tougher mortgage standards.

The Consumer Financial Protection Bureau (CFPB) has announced new rules …

Interest Rates and the Fiscal Cliff

November 15, 2012


Mortgage interest rates during the presidential campaign season have remained in a relatively steady range.
Rates have been hovering near record lows. The fluctuations have been around a quarter point in rate. Rates for the balance of the year …