This so-called fiscal cliff is leaving mortgage rate shoppers shaking their heads? First, we are being told, if our congress allows us to fall over that cliff, it will equate to a monthly loss of $530, or more than $6000 per year, for many americans. If this were not enough to worry about, my clients shopping for homes, are also facing the uncertainty of what direction mortgage rates will move – Up? or Down? Last week, rates have started to creep up, and up. Continue reading
Should I Lock Or Float This Week : December 17, 2012
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Mortgage-backed securities (MBS) improved a bit last week, and rates remain near all-time low’s, continuing this year’s Refinance Boom and giving fuel to the budding housing market recovery. 
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”.
The nation’s biggest banks have started to loosen mortgage lending guidelines. Is this another signal of an improving U.S. economy?