Fed Funds Rate now at 3% January 30, 2008
Today the FOMC reduced the Fed Funds rate by a half point to 3%. A half point rate cut was expected by Traders and so far we do not have significant changes (yet) to mortgage interest rates. However, if you have a HELOC, your interest rate has just gone down again. The Fed also reduced [...]
Lock It or Lose It January 24, 2008
Mortgage rates have been very volatile these past few days. Yesterday morning, I posted that the 30 year conforming fixed was under 5% and by the end of yesterday, mortgage rates had increased by 0.375% to rate or around 1% in fee.
Rate shoppers lost out big time if they did not lock.
Rates are continuing to rise [...]
Quick reminder to lock in your mortgage September 6, 2007
On the first Friday of every month, the Jobs Report comes out. Tomorrow is the big day. As I’ve written about this topic before, this economic indicator tends to have a huge impact on mortgage interest rates.
It is the consumers choice to float or lock a mortgage interest rate. My preference is generally always to [...]
Friday’s Rates…it’s a bumpy ride. August 3, 2007
I like to provide you with rates a little earlier on Friday. However, today I attended a seminar in Bellevue which was over at 1:30…just in time to get stuck on the I-90 Blue Angels traffic. I love Seafair, don’t you?
The mortgage industry is facing historic times. There is a credit crisis in the non-conforming markets and it’s having a [...]
The Jobs Report and Mortgage Interest Rates April 9, 2007
Last Friday, I posted that mortgage rates were on the rise due to the strong labor reports. Joe and Nickie both asked excellent questions regarding how economic indicators impact mortgage interest rates. One (just one) of the big daddies is the Jobs Report. Before I get into that deeper, I want to address economic indicators in [...]
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 [...]
