Mortgage Rates and The Election

Once every 4 years clients hold their breath to see how election day impacts home loan rates.  How does Nov 8th actually impact mortgage rate trajectory? Hip shooters simply predict “in election years rates go up…” or “in election years rates go down.”   Reality check - presidential elections alone have zero impact on mortgage rates.   The actual president elect and the direction their agenda will take our nation is what can impact mortgage rates.  The relationship between the president … [Read more...]

Fed Funds Rate and Mortgage Rates

In December of 2015, the Fed did something they had not in nearly a decade – increase the Fed Funds Rate.  The Fed bumped the Fed Funds Rate .25%.  Fannie Mae and Freddie Mac do NOT go on hiking trips with the Fed.  In other words, a Fed rate increase does not equal a mortgage rates increase.  They may move together and they may.  The real question is are they moving because of each other? Below is a graph showing the history of the Fed Funds Rate and Mortgage Rates (per Freddie Mac).  After … [Read more...]

Mtg Rates Feed off Stock Market Famine

Market Update below pertains only to August 24, 2015    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 … [Read more...]

Mortgage Rates Fall – Should You Refi?

In January of 2015 interest rates plummeted to the 3% range for Conventional, FHA, VA and USDA 30 year fixed loans.  If you are asking yourself “should I refinance” you are in good company. Apply for a Home Loan 602.435.2149 The 1% Rate Drop Refinance Rule of Thumb It's important to determine what is best for you and your family relative to today’s historically low mortgage rates.  Rates remain near all time historical lows and our team is always here to inform you of … [Read more...]

Mortgage Rates Could Get Slippery

Mortgage rates tend to get “interesting” during the end of the year. 2014 will not disappoint.   Many think this is an end of the year phenomenon but I assure you, there is reason this happens.  The 2 primary factors playing into a slippery holiday mortgage environment this holiday season are: New Jobs/Unemployment data – right now (as of Friday) that data is positive showing job growth Thin trading – when we get closer to the actual holiday there is less volume which means markets can … [Read more...]