Fed Rate Hike | Mortgage Rates Fall

March 2017 -  Fed voted 9-1 to hike the Fed Funds Rate by .25% today – and mortgage rates dropped considerably immediately.  The notes from the Fed’s meeting indicate they are considering 2 additional Fed Funds rate hikes in 2017 (depending on economic data and indices such as inflation). With our current economic and political environment, this rate hike has and will have more press than most.  While many hear “rate hike” and and do not differentiate which rates were actually “hiked” … [Read more...]

Home Loan Rates Face Jobs Data

Tomorrow’s “New Jobs” and “Unemployment Rate” data is a potential market mover.  If the numbers come in near 160k new jobs and 4.7% unemployment we should see the mortgage rate rally from week 1 in 2017 continue into next week. Some have called the 9 week post-election rate increase the “Trump Tantrum” which reminds me of the “Taper Tantrum” 1 week rate jump in the summer of 2013.   Is a cost increase of only $31.06 per $100k mortgage from election week to now OR the cost increase of just … [Read more...]

Fed Funds Rate and Mortgage Rates

We are most likely on the eve of something not seen in a decade – the Fed increasing the Fed Funds Rate.  It is not a for sure thing, but odds are the Fed will bump the Fed Funds Rate .25% tomorrow.  I want to shout from the rooftop that Fannie and Freddie do NOT go on hiking trips with the Fed.  Meaning, just because the Fed increases the Fed Funds Rate does not mean mortgage rates will climb up.  They may move together and they may not but the real question is are they moving because of each … [Read more...]

Mtg Rates Feed off Stock Market Famine

They tell us not to look at our investments daily.  This morning was one of those days where blissfully ignoring them may have saved some serious heartburn.  After all, what goes down must come up – or something along those lines ;).  As you heard stocks took a boot to the chin dropping over 1,000 points in the first 6 minutes of the day.  By the end of the day the Dow closed down 588 after bargain hunters starting buying up now discounted stocks.  What Does This/Did This Mean for Mortgage … [Read more...]

Mortgage Rates Fall – Should You Refi?

You may have heard – mortgage rates just fell clearly under the 4% range and are now in the 3% range on Conventional, FHA, VA and USDA 30 year fixed loans (depending on credit, must be owner occupied and sufficient equity per loan type).   To help with the barrage of solicitations and over-promising postcards you receive, I wanted to send you a “should I refinance” guide to help you decide what is best for you and your family relative to today’s historically low mortgage rates. Mortgage Rate … [Read more...]