Rate Drop Has Begun!!
Lowest Levels Since March 2023 On August 2nd we saw mortgage rates fall to their lowest levels since March of 2023, very close to 6% APR for 30 Year Fixed. My phone and e-mail have been inundated since then [...]
Finally — A Rate Cut
30-Year Rate Drop The Federal Reserve is finally in agreement that inflation is heading towards their 2% target due to the better-than-expected June CPI (Consumer Price Index) inflation readings. The June CPI report showed that overall inflation was down [...]
Good News for Mortgage Rates in May
Fed Funds Rate Stayed the Same Good news for mortgage interest rates in May with the Federal Reserve leaving their target rate, The Fed Funds, in the range of 5.25% - 5.5%. The Fed did not increase the Fed [...]
Rates Still in Limbo
Rate Cut Delay After a nice move down in mortgage interest rates to end the month of March 2024, rates began marching upwards again in April 2024. We saw 30-year fixed mortgage rates get close to 6.5% APR in [...]
New HELOC for Uni Hills—FINALLY!
Fed Still Holding the Line No surprises were coming out of the most recent two-day Federal Reserve Open Market Committee Meeting (FOMC) that concluded on March 20th, 2024. The Fed kept the status quo and refrained from cutting their [...]
Inflation — Killer of Mortgage Rates
Inflation Stubbornly High Mortgage rates continue to remain stubbornly high due to the worse-than-expected inflation readings in February. The average 30-year Fixed interest rates fell close to 6% APR for zero points right around Christmas of last year. That [...]
Mortgage Interest Rate Drop!
Hikes on Hold The Federal Reserve continued holding on interest rate hikes and finally started showing signs that rate cuts would be coming soon. After the December 12-13 Federal Open Committee Market (FOMC) meeting, the Fed not only paused [...]
Getting Over the Interest Rate Hump
Rate Hike Pause Continues At the conclusion of the November 1, 2023, Federal Reserve meeting, the Fed continued the pause in interest rate hikes to the Fed Funds rate. This was a follow-through on the pause from the September [...]
What is a Bank Statement Loan?
Loan Options As a mortgage consultant, it's important to me be able to educate clients to ensure that they understand the various financing options available to meet their needs. Today, I'd like to discuss a less commonly understood type [...]
Still Waiting for the Mortgage Market
Still Waiting Mortgage interest rates have yet to make a significant move lower because the inflation numbers haven’t decreased enough to create more demand in the bond market. I had been hoping for rates to improve after the 5/10/23 [...]
