The California Housing Market is cooling down. This is the best moment for homebuyers who don’t want competition when placing their offers. In California, the housing market has begun to stabilize around the medium-term levels. Economic Factors The number of continuing claims for unemployment in California dipped to an 82-week low of 461,609 last week. Read more about California Housing Market is Cooling[…]
Today, the Federal Open Market Committee, the monetary policymaking body of the Federal Reserve System, decided to maintain the target range for the federal funds rate between 0 to 1/4 percent. The Committee expects to maintain this target range until it is confident that the economy has weathered recent events and is on track to Read more about Fed Expects Interest Rates near Zero through 2022[…]
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 29, 2020. This week’s results included an adjustment for the Memorial Day holiday. The Market Composite Index, a measure of mortgage loan application volume, decreased 3.9 percent on a seasonally adjusted basis from one week earlier. On Read more about Mortgage Applications Decrease from the last week[…]
Freddie Mac reported today Thursday, March 5th The average 30-year fixed-rate mortgage hit a record 3.29% this week, the lowest level in its nearly 50-year history. Meanwhile, mortgage applications increased 10% last week from one year ago and show no signs of slowing down. Given these strong indicators in rates and sales, as well as Read more about Mortgage Rates Hit All-time Low[…]
Mortgage rates point today a new historic low today February 24, 2020. The stock market melts down due to fears the coronavirus is spreading, as new cases crop up in Italy and Iran. The virus has reached over 80,000 patients in the world today, the majority in China, but the concern is that nobody can’t Read more about Mortgage rates in a historic low[…]
Your credit score is a three-digit number that relates to how likely you will repay the debt on time. Lenders, including mortgage lenders, use your score to approve, or not, a loan and establish a specific interest rate for that loan. There are credit bureaus and there are credit scoring models. Le’ts talk about scoring Read more about Understanding Credit Scores[…]
Jill Schlesinger talks in CBS Eye on Money and explains about the benefits of Loan Refinancing. Two facts to consider these days:• Currently, the Average Interest Rate is 3.65% for a 30-Year Fixed Mortgage Loan.• Near 63% of loan refinance applicants are homeowners. The purpose of a refinance is to take advantage of a lower Read more about Tips on Refinancing your Mortgage Loan[…]
The Mortgage Banker Association said recently that the Market Composite Index, a measure of mortgage loan application volume, decreased 3.1 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 4 percent compared with the previous week. We can identify three clear trends in the last three years: Read more about Mortgage Rates down again..![…]
August 1st brought 10yr Treasury yields to the lowest levels since November 2016. The bond market movement was big and unexpected. The mortgage rates are lower. The word RECESSION feels stronger today than yesterday. Investors feel safer to invest in Treasury Bonds. Today, news about more trade tariffs and de-globalization push back the confidence on Read more about Homebuyers taking advantage of the lower Mortgage Rates..![…]
The bond market extended its positive reaction to yesterday’s Fed announcement of keeping the rates the same. This cause Mortgage rates plunged today. Mortgage News Daily reported FHA 30-Year Mortgage Rate was 3.60%, the Conforming 30-Year Mortgage Rate reached 3.79% and the Jumbo 30-Year Mortgage Rate was 3.85%. The Fed confirmed the market’s suspicion that Read more about Mortgage Rates Hit New Long-Term Lows[…]