Tag Archives: best rates

What Mortgage Rates Are Doing This Week :February 11th, 2013

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Mortgage rates worsened last week in response to more indications that the U.S. economy and global economic trends are improving. Global economic data was stronger than expected; which generally boosts investor confidence and leads to higher mortgage rates in Sacramento and across the country.

We may see a reversal of this trend in the short-term because the stock market remains overbought and ready to retrace, the obvious question is when? With little economic news this week, there is no reason the stock market should improve or interest rates should change much. Until the stock market retreats, U.S. interest rates are not likely to decline much. Continue reading →

What Mortgage Rates Are Doing This Week : Jan 28, 2013

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At the opening this morning, we are experiencing our 3rd day in-a-row of rising rates. What’s up with that? Thankfully, at the moment, they are clawing their way back. Last week, Mortgage rates rose as investors gained confidence in the global economy. China and Europe posted better-than-expected manufacturing rates, U.S. Jobless Claims fell for the second straight week, and the worst of the European debt crisis appears to have passed.

A strengthening economy = Mortgage Rates will go up! Continue reading →

Explanation Of The Fed Statement Today (October 24 , 2012)

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The Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent Wednesday.

For the ninth consecutive meeting, the vote was nearly unanimous. And, also for the ninth consecutive meeting, Richmond Federal Reserve President Jeffrey Lacker was the lone dissenter in the 9-1 vote.

The Fed Funds Rate has been near zero percent since December 2008. At the close today, Mortgage Backed Securities ended the day a little worse (rates/fees went up a bit) on the news… Continue reading →

Rates Are Going Down and Fee’s Are Going Up! I Am So Confused.

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Sometimes, things just have a way of working themselves out. My wife hates when I say that, but in this circumstance it is true. If you read my blog a few days ago, I braced my clients for fees to increase on all conventional loans. But thankfully, the news today from The Federal Open Market Committee drove rates right back down. It’s like the fee increase never happened. Why?

Because the Fed voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent. For the eighth consecutive meeting, the vote was nearly unanimous (9-1 vote).

The Fed Funds Rate has been near zero percent since December 2008. Continue reading →

Will My Credit Score Go Down While Shopping For A Mortgage?

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I get this question daily from my prospective buyers. “Do you have to pull my credit? I don’t want you to hurt my score that I have worked so hard to maintain.” A great question for today’s home buyers and refinancing households, the value of “good credit” has never been higher.

Years ago, that concern made more sense. Today, it doesn’t, because having a mortgage company pull your credit is very different from having Walmart do it. Continue reading →