Mortgage Rates for Friday: ARMs and Jumbo’s MUCH Lower! January 11, 2008
Mortgage guidelines continue to tighten. Most recently, I’m seeing some lenders extend credit score-risk based pricing to FHA and VA mortgages. Second mortgages have increased credit score requirements and have pulled back the total loan to value they will lend. If you are putting less than 30% down and are considering obtaining a mortgage in the next [...]
Friday’s Mortgage Rates October 12, 2007
Conforming Mortgage Rates (loan amounts up to $417,000 for 1-unit properties). Conforming rate quote below based on owner occupied, “full doc” with minimum credit scores of 680 with an 80% loan to value or lower and a loan amount of $400,000. Rates quoted are priced based on a 45 day lock with 1 point and [...]
Mortgage rates slightly up following a strong Jobs Report October 5, 2007
This morning’s positive Jobs Report came in higher than expected with 110,000 new jobs. Somebody at the Labor Department needs a new calculator because August’s Jobs Report was increased by 93,000 from minus 4,000 to 89,000. All of this good news can be bad news for bonds, which mortgage rates are based on. The bond market will be [...]
Underwriting Guidelines are Tightening Up July 19, 2007
Both Fannie Mae and Freddie Mac are tightening up their underwriting guidelines making it tougher to qualify for conventional mortgages (loan amounts $417,000 or less for single family dwellings).
Some of the most significant change is how borrowers are qualified when using a mortgage with an interest only feature.
Fixed Rate Mortgages (ex. 30 year fixed [...]
Mortgage Rates for Friday the 13th July 13, 2007
Our family’s cat, Bagara, is pleased to report to you that on this Friday the 13th, rates are not higher. In fact the conforming 30 year fixed is slightly improved compared to last Friday’s rates.
Conforming Mortgage Rates (loan amounts up to $417,000 for 1-unit properties). Conforming rate quote below based on owner occupied, “full doc” with minimum credit [...]
Friday’s Rates…are higher July 6, 2007
This morning, the Job’s Report came in stronger than expected. How does this impact your mortgage rates? If it’s tougher for employers to hire (less unemployment) and the employers are forced to pay more in hourly wages for the same worker…guess what the employer needs to do in order to stay profitable? Increase the cost of their [...]
Mortgages Rates are Hopping Up April 6, 2007
Rates are up again from last week. March’s Jobs Report came in much stronger than expected (180,000 new jobs vs. 135,000) and revisions to the past two months’ Jobs Report dropped the unemployment rate to matching the lowest level in 6 years at 4.4%! All this good labor news is bad news to mortgage bonds.
The following [...]
