releases and thus mortgage rates took a significant one-day beating – noted by the long red column shown on the far right of this graph. Prices are now almost back where they were before that report was announced.
For those of you shopping for a good mortgage rate, who did not lock at the time, may have just gotten your reprieve!
A strengthening economy = Mortgage Rates will go up! Continue reading
As reported by the Federal Reserve, last quarter, no “big banks” reported stricter mortgage standards as compared to the quarter prior and “modest fractions” of banks reported easier mortgage standards. Continue reading
Despite several big-name banks pulling the product from their respective home loan offerings, reverse mortgages remain a popular mortgage choice among homeowners aged 62 or over.
A reverse mortgage is exactly what it sounds like — a mortgage in reverse. Rather than borrow a fixed amount of money then pay that loan balance down to zero as with a “forward” mortgage, a reverse mortgage starts at a given loan balance and works its way up as scheduled payments are added to the existing loan balance. 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
