Beginning as soon as next week, new, mandatory mortgage fees will push mortgage rates higher throughout Sacramento and nationwide. Fannie Mae and Freddie Mac are raising their respective “guarantee fees”.
Guarantee fees are fees that mortgage-backed securities providers charge to lenders for mortgage-related services including the bundling, selling and reporting of mortgage-backed bonds. Continue reading
For mortgage rate shoppers in Sacramento and California, markets have touched new all-time lows, but are not sticking. This is due to traders taking advantage of buying on dips and selling on rallies.
It can also be argued, that banks are squeezing their pipelines by keeping rates higher, as they actively manage this mini refinance boom we are experiencing – for those homeowners who are underwater and want to take advantage of the much-needed HARP prograrm. Continue reading
Is your mortgage scheduled to adjust this season? You may want to let it. This year’s ARM-holding homeowners in Sacramento are finding out that an adjusting mortgage may be the simplest way to get access to today’s low mortgage rates — without paying the closing costs.
Currently, conventional adjustable-rate mortgages are adjusting to near 3.00 percent. Continue reading
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After two weeks of no change, mortgage markets improved last week, pushing mortgage rates lower throughout California. But, are we poised for a reversal? According to the trends, mortgage backed bonds are in a overbought position and ripe for a selloff – Based on the indicators, there’s more room for rates to rise than to fall. Continue reading
The Federal Open Market Committee begins a 2-day meeting today in the nation’s capitol. It’s the group’s third of 8 scheduled meetings this year. Mortgage rates are expected to change upon the Fed’s adjournment.
Led by Chairman Ben Bernanke, the FOMC is a 12-person, Federal Reserve sub-committee. The FOMC is the group within the Fed which votes on U.S. monetary policy. “Making monetary policy” can mean a lot of things, and the action for which the FOMC is most well-known is its setting of the Fed Funds Funds. Continue reading