Mortgage Rate Recap and Outlook For Week Ending May 25, 2018

Some old influences on the long-term bond market worked to slightly lower rates this week, as fear of geopolitical events sparked a move of institutional money into the safety of the long-term bonds. Specifically – the negative talk from North Korea’s leader and officials and the cancelation of the summit next month with the US […]

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What Interest Rate Can You Really Get For Your Mortgage?

When you set out to buy a home, one of the first things you look at is where mortgage interest rates are these days. The second thing you want to know is can you get that rate? If the answer is no and you can only get a higher interest rate, you’ll want to know […]

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When Is a High Credit Score Not Good Enough for Loan Approval?

It’s true that having a high credit score is a benefit when applying for a mortgage. A high score is your ticket to the lowest rates available at the time you apply for a mortgage, especially if you’re applying for a jumbo mortgage (above the high balance conforming loan limits in your area). But don’t […]

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Mortgage Rate Recap and Outlook For Week Ending May 18, 2018

Jobs data released this week was very positive, with jobless claims at their lowest levels since 1969. On top of that, the frequently volatile Philadelphia Fed Business Outlook Survey came in at 34.4 versus the predicted 21.0. As far as geopolitical events having an impact on trading we had some uncertainty over North Korea – […]

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Mortgage Rate Recap and Outlook For Week Ending May 11, 2018

Most of the economic data released this week has been in line with predictions and expectations resulting in a little to no impact on the long-term bond market, which has a direct effect on mortgage rates. Mortgage Backed Securities (MBS) reacted negatively yesterday to two factors: oil moving above $71/barrel, and a slight reduction in […]

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The Myths About Credit Scoring That Are Hurting Your Scores Badly

Trying to sort out the facts from the myths about credit scores and credit reports is not easy. Should you open new credit card accounts or close them? Pay off all your balances every month or make regular payments to improve your score? The whole subject makes you want to throw your hands up and […]

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Mortgage Rate Recap and Outlook For Week Ending May 4, 2018

While the stock market had a sell-off after the Federal Open Market Committee (FOMC) meeting yesterday, the mortgage bond market did not react to the Fed’s leaving the overnight rate alone. Bond traders have already factored in the Fed’s position on inflation and their predicted rate increases for the year and this month’s FOMC meeting […]

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0%-10% Downpayment Options for Your Next Home Purchase

You do the math, then check the balance in your savings account, and then do the math again. By your calculations, it’ll take another three, maybe five (!) years to save enough for a 20% down payment on your first home. What’s worse, home prices keep rising, and that’s pushing the timeline further away. If […]

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30 Year Fixed Mortgage Rates Quickly Heading Towards 5%

Mortgage Rates Recap and Outlook For the Week Ending April 27, 2018 30 Year Fixed Mortgage rates for Conforming Loans (Loan Amount $453,100 and below) climbed to the highest levels since September 2013. 30 Year Fixed Mortgage rates for Jumbo Loans (Loan Amount >$453,100) climbed to the highest levels since January 2014. The 15 Year […]

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How to Qualify for a Mortgage with an IRS Repayment Plan

Whether you filed your completed taxes this April or an extension, you should already know your tax liability for the past year. If, despite your withholding or quarterly payments, you owe more than you can pay all at once, don’t panic. It’s not the end of the world even if you’re planning on applying for […]

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