As expected, the Federal Reserve increased their overnight Fed Funds Rate another .25%. This will put the rate in the 2.25-2.5% range. This will affect consumer short term borrowing costs and interest rates on credit cards, and adjustable rate mortgages with an index tied to short term interest ... » Learn More about Federal Reserve Increases Fed Rate Again Another 1/4% to 2.25-2.5% Range, But Mortgage Rates Drop
Mortgage Rates
Mortgage Rates Drop – Yield Curve Close to Inverting
Lets take a look at the spread between the 10-year and 2-year yield in the past, and how it has historically been a very accurate sign of a recession once the spread goes to 0 or becomes inverted. While the spread is not at 0 or inverted, it is getting very close at only 13bp. which is a sharp ... » Learn More about Mortgage Rates Drop – Yield Curve Close to Inverting
New Maximium Conforming Loan Limits for 2019
The Federal Housing Finance Agency (FHFA) today announced the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2019. In most of the U.S., the 2019 maximum conforming loan limit for one-unit properties will be $484,350, an increase from $453,100 in ... » Learn More about New Maximium Conforming Loan Limits for 2019
Wild Fires and State of Emergency Can Make Funding a Mortgage a Challenge
The direct issues created by wild fires like the destruction of property and dislocation of residents in the region are obvious. There are several other problems that can arise. A few of these other issues can make closing a real estate transaction, or refinance of a property a ... » Learn More about Wild Fires and State of Emergency Can Make Funding a Mortgage a Challenge
Fed Funds Rate Increased As Expected, Future Rate Forecast
The Federal Reserve increased their target rate for the Fed Funds another .25% today (Sept 26, 2018) to 2.0-2.25%. The gradual increase is expected to continue in the future. Another .25% as soon as this December. The Fed has direct control of the short term rates. This increase will directly ... » Learn More about Fed Funds Rate Increased As Expected, Future Rate Forecast