What a year for interest rates! The 10 year note, which we follow as it most correlates with 30 year fixed mortgage rates, was at 3.25% back in September 2018. A year later in September of this year it dropped all the way down to 1.44%! Now over the past two month’s rates have had broad swings, but ... » Learn More about Mortgage Rates Pop over China News (Again)
economics
Mortgage Rates in Flux, They are News Driven, But Ignore the News
The interest rates are on the low end of the cycle, but there has been a lot fluctuation in rates over a week, or even in a single day. It can be news driven by economic numbers, the China trade issues, or even a tweet... One thing for sure, the Freddie Mac information released by the ... » Learn More about Mortgage Rates in Flux, They are News Driven, But Ignore the News
Interest Rates are Close to Historic Lows, but Now What?
There are several moving targets that can have a direct effect on what interest rates will do over the next few months. Rates on both the short term and long term rates are close to historic lows. The short term and long term rates don't necessarily correlate. The Federal Reserve already dropped ... » Learn More about Interest Rates are Close to Historic Lows, but Now What?
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