The interest rates had a very crazy 48 hours. It came in two phases. Phase one - The Federal Reserve on Wednesday did what was totally expected for months. They dropped the Fed Rate .25%. The first reduction in 10 years. Fed Chairman Powell indicated that it was a mid-cycle adjustment. The ... » Learn More about Mortgage Rates Down to 2016 Levels, First It Was The Federal Reserve, Then It Was New Tariffs. What a 48 hours!
Mortgage Rates
Mortgage Rates Drop to 2017 Levels- Best Time to Debt Consolidate or Lock Adjustable Loans
Thank you economic weakness in Europe and the China tariff fears, the long end of the interest rates have dropped to their lowest level since 2017. The short end of the rate curve, not as much. The property values are up substantially since 2011, which gives the gift of equity to the owners of ... » Learn More about Mortgage Rates Drop to 2017 Levels- Best Time to Debt Consolidate or Lock Adjustable Loans
Very Few Foreclosures in the System
A client the other day asked "how about a deal on foreclosures?". The quantity of foreclosures, or distress sales in the system are at historic lows. Back during the recession 10 years ago, foreclosures and short sales were a combined 70% of the real estate sales transactions. Now they're only a ... » Learn More about Very Few Foreclosures in the System
Federal Reserve Goes Dovish, Fed Rate to Stay Neutral Through 2019, Mortgage Rates drop
The Federal Reserve went dovish today with their announcement after the FOMC March meeting, conveying employment and economic conditions are historically solid, but slowing. The highlights: No Fed Funds rate increases through 2019-2020. We’ll see, as they were predicting 3 or 4 increases ... » Learn More about Federal Reserve Goes Dovish, Fed Rate to Stay Neutral Through 2019, Mortgage Rates drop
Federal Reserve’s New Keyword is Patience – No More Hikes for a While
The Federal Reserve has reversed their previously conveyed interest rate plan. Fed Chair Jay Powell indicated there are too many crosscurrents , and the appropriate policy will be to stay pat on the present Fed Funds Rate of 2.25-2.5% for a undetermined period. Only 6 weeks ago the perceived Fed ... » Learn More about Federal Reserve’s New Keyword is Patience – No More Hikes for a While