Buyers continue to show confidence in the housing market as they are jumping back into the game! With mortgage rates at record lows, it is a great time to purchase a home or refinance your existing mortgage. Purchase applications are up 4% from last week according to the Mortgage Bankers Associations seasonally adjusted index. Experts …
Five things you can do to get your home ready to hit the market post-coronavirus
The Cororonavirus has disrupted just about everything this spring, and that includes the Spring Real Estate Market in a big way. March, April, and May are usually the busiest months for prospective buyers and realtors to be out and about looking at communities and homes. By this time, homebuyers have chosen their home and made …
Mortgage rates are crazy right now, and here’s why!
In over 40 years of mortgage lending, I have never seen this kind of rate inconsistency. Major, solvent mortgage lenders have ceased offering certain loans and have pricing that seems ridiculous. Suddenly, FHA, VA are priced in a way that makes no sense, and Jumbo loans are all but non-existent. Pricing can vary by a …
Don’t Let Frightening Headlines Scare You
There’s a lot of anxiety right now regarding the coronavirus pandemic. The health situation must be addressed quickly, and many are concerned about the impact on the economy as well. Amidst all this anxiety, anyone with a megaphone – from the mainstream media to a lone blogger – has realized that bad news sells. Unfortunately, …
Fed Rate Cuts in Response to Coronavirus
In an attempt to stabilize the economy in response to the coronavirus pandemic, the Federal Reserve on Sunday decided to buy $200 billion of mortgage-backed bonds, a move that should stabilize and likely lower mortgage rates. The central bank also reduced rates to zero to 0.25%. Both of these moves are part of a larger …
Why are mortgage rates so low?
Interest rates are at their lowest level in many years. They were heading down steadily before investors fled to the bond market in response to the COVID-19 coronavirus outbreak. When investors take money from the stock market and invest in treasury bonds, the treasury note yield goes down. When the demand for bonds goes up, …
