Mortgage Rate Recap and Outlook For Week Ending June 29, 2018

It’s tempting to take a risk and not lock in an interest rate when you see mortgage rates decline even by a small amount. This is not the week to give in to that temptation. The bond market, which directly impacts mortgage rates, is watching some potentially intense situations unfold globally and these situations could […]

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The Best Advice on What Not to Ask Your Mortgage Loan Officer

The saying “you don’t even know what you don’t know,” might be the perfect description of someone starting the complicated process of getting a mortgage. Prospective borrowers need to do substantial research to learn which fundamental questions to ask when interviewing lenders. While there’s no shortage of advice on the critical questions to ask, most […]

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Mortgage Rate Recap and Outlook For Week Ending June 22, 2018

As of the end of April, the year-over-year (YOY) nationwide increase in home prices is at 6.4%, based on actual appraisals for all loans sold to Fannie Mae, Freddie Mac or Ginnie Mae (all conforming and government loans.) While it’s now almost the end of June, and the data is aged, it’s a positive sign […]

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Why Your Asset Statements Matter to Mortgage Lenders

Applying for a loan can feel like an invasion of your privacy. As if lenders want to pull back the curtain on your life and analyze every detail, including your job, your income from that job, your tax returns, and, worst of all, copies of your asset statements. You want to ask them what they’re […]

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Mortgage Rate Recap and Outlook For Week Ending June 15, 2018

After trending down for the last two weeks, mortgage rates increased over the previous week and could continue that trend. This week saw the Federal Reserve raising not only the Fed Funds rate, but also the Prime Credit rate, and the Reserve Balance rate. In comments by the Federal Reserve Chairman, Jerome Powell, a hawkish shift […]

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What to Do in a Changing Real Estate and Mortgage Market

As if the shortage of homes for sale wasn’t severe enough, now rising interest rates are making the spring buying season extra challenging across the nation. The latest analysis and forecasting of market information by organizations such as National Association of Realtors (NAR), the St. Louis Federal Reserve, and Realtor.com highlights the shortage in inventory. […]

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How to Get a Mortgage If You’re Self-Employed

If you think being self-employed will limit your ability to get a mortgage, you’re wrong.  Qualifying guidelines are the same for anyone applying for a mortgage whether they receive a W-2 every year or they’re self-employed. Borrowers qualify based on a minimum level of income, credit, and savings. Each category requires documentation to prove, aside […]

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Mortgage Rate Recap and Outlook For Week Ending June 8, 2018

Without any geopolitical flare-ups over the last week, the impact of economic data has been very mild with no measurable effect on the markets or mortgage rates.  The biggest job news was the filing of Jobless claims coming in slightly below predictions, but the 4-week moving average ticked up to 225,500 – amazingly low. Global […]

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Here’s What You Need to Know About a Condo Loan

On the surface, everything looks the same when you apply for a mortgage to purchase a condominium. You get pre-approved for the mortgage before you ever make an offer on a home so you know your purchase price range and maximum mortgage amount. Once you have an accepted offer, you take all the steps to […]

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Mortgage Rate Recap and Outlook For Week Ending June 1, 2018

The market continued to improve in the early part of the week, led by the drama coming from Italy and a sharp drop in oil prices.  These issues are no longer impacting the markets, and mid-week Mortgage Backed Securities began to move back into the red, creating a slight pressure of increasing rates to come. […]

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