The mortgage underwriting landscape has become increasingly challenging, primarily due to the pervasive impact of buybacks and other market conditions. Underwriters (UWs) are now facing a myriad of pressures and obstacles that complicate their decision-making process. Here's a detailed look at why ... » Learn More about Why Recent Underwriting Decisions on Mortgage Originations Are More Difficult
Mortgage Rates
Mortgage Rate Update Update March 22 2024
Last Wednesday the Federal Reserve had its March FOMC meeting and left the Fed Funds Rate alone at 5.25%-5.5%. They believe the inflation rate is still moving in the right direction, but the January and February higher inflation rates appear to be seasonally prone to err. Chair Powell reiterated ... » Learn More about Mortgage Rate Update Update March 22 2024
1st Time Buyer -Shared Appreciation “California Dream For All” Loan; Good, But Not Really For All
It’s hit the media, the second round of the government's “Dream For All” in 2024 will be very different than the first round last year. Created in 2022, Dream for All was originally envisioned as a 10-year, $10 billion investment before lawmakers scaled it back last year. In 2023 only $300 ... » Learn More about 1st Time Buyer -Shared Appreciation “California Dream For All” Loan; Good, But Not Really For All
Fed Goes to Neutral and Mortgage Rates Lowest Since May
The Federal Reserve left the Fed Funds Rate unchanged at 5.375% at their policy meeting today. Even though the Fed left the rate unchanged, they’ve basically admitted that they are now in a neutral position. They’ve been in a tightening stance for almost two years. The rates have hit their highs for ... » Learn More about Fed Goes to Neutral and Mortgage Rates Lowest Since May
Mortgage Rates Lowest In Two Months
Inflation based on the Producer Price Index (PPI), Consumer Price Index (CPI), and the Federal Reserve's favorite Personal Consumption Expenditures all show continued improvement. That in conjunction with the moderate Job Data, kept the the Federal Reserve to maintain the target range for the ... » Learn More about Mortgage Rates Lowest In Two Months