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220 Year History of Interest Rates
A while back, I published a chart of interest rates that went back about 40 years. I did this in an attempt to show that the recent increase in interest rates, as well as future interest rate...
View Article96.5% FHA Loans vs. 95% Conventional Loans
FHA Loans vs Conventional loans is an important discussion. Since you can no longer drop the MIP on an FHA loan, I wanted to show a comparison between a 3.5% down payment FHA loan and a 5% down payment...
View ArticleAbove Par Pricing? What’s A Par?
I barely know what “above par pricing” means, and I have been in the mortgage business for 25 years! I’ll see if I can explain it, and why you need to know about it. An analogy Let’s say “par” equals...
View ArticleAdd-ons? What are those?
Mortgage Add-ons? What are those? Most people are not aware that Fannie Mae and Freddie Mac have a whole chart of pricing “add-ons”. Add-ons are an amount usually expressed in discount points. These...
View ArticleAPR (Annual Percentage Rate) Is A Poor Judge Of Character
APR (Annual Percentage Rate) is a poor judge of character. Annual Percentage Rate, or APR, is a legal requirement that mortgage lenders must disclose on one of their disclosures called a “Truth In...
View ArticleAPR and FBI, CIA, USDA, FDIC, ATF, USPS, SEC, NASA, HUD.
APR and FBI, CIA, USDA, FDIC, ATF, USPS, SEC, NASA, HUD. A lot of terms and abbreviations these days seem like alphabet soup! Interest Rate and APR (Annual Percentage Rate) are two of the most commonly...
View ArticleAre Interest Rates Too High?
Interest rates are becoming a hot topic lately. With interest rates shooting up approximately 1% in about a month, there is plenty to talk about. It seems that some people were only in the housing...
View ArticleAverage Interest Rate
I get a lot of excited questions based on information people see on the latest average interest rate news. This data is usually published monthly by the media, so it is a regular source of misleading...
View ArticleDid The Coronavirus Make Mortgage Rates Go Down? Did the Federal Reserve Just...
Mortgage rates did indeed go down after the Coronavirus spread and financial markets started to panic. But the Coronavirus and mortgage rates aren’t directly connected. People considering a refinance...
View ArticleLatest Bond Market Report
The 10 Year Treasury Bond was at 1.822% on January 10th 2020. It was 1.847% as of October 28th 2019. So you can see that rates have been fairly flat for the last 2+ months. The 10 Year Treasury Bond is...
View ArticleLatest Bond Market Report
The 10 Year Treasury Bond was around 1.8% as of October 28th 2019. The 10 Year Treasury Bond is not a direct correlation to mortgage rates. It is simply good to know historical information on...
View ArticleLatest Bond Market Report
The 10 Year Treasury Bond was at 2.08% as of last Friday*. This is the lowest it has been in a long time. QUESTION: But what does this mean for mortgage rates? ANSWER: In general, mortgage rates are...
View ArticleBond Market Report
The 10 Year Treasury Bond is at 2.56% as of last Friday. This is about the same as the last time I posted 10 Year Treasury Bond data in early January. On 01-03-2019 the 10 Year Treasury Bond was...
View ArticleBond Market Report
The 10 Year Treasury Bond is at 2.73% so far today. This is slightly higher than the last time I posted 10 Year Treasury Bond data in early January. On 01-03-2019 the 10 Year Treasury Bond was 2.55%....
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Interest Rates And Your Monthly Mortgage Payment
Many people are very focused on interest rates these days and are wondering where they are headed next and how it may affect their mortgage payment. Interest rates have been historically low for a...
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No cost refinancing a.k.a. no cost refi
I frequently have people ask me for “one of those no-cost refi’s”. Some people think that mortgage lenders are so hard up for business that they are willing to lose money and simply pay the closing...
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Interest Rates Are Still Low. Or Did They Go Up? Are They Down?
Interest rates rose after the presidential election. The news from the bond market according to MBS Online was “Trump has advocated for greater spending on defense and infrastructure, and at the same...
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9 Mortgage Myths To Stop Believing
Buying and financing a new home can be a daunting task and many of us turn to friends and family for advice. But the only experts in the mortgage field….are the experts in the mortgage field! Friends...
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How To Find The Best Mortgage Lender
When comparing mortgage lenders there are many things to consider. If you want to save time follow the below steps on how to compare mortgage lenders. Time is valuable and so is our sanity and these...
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How A Mortgage Calculator Can Keep You Out of Trouble
If you type “Mortgage Calculators” into Google you will get over 2 million results and Google’s simple mortgage calculator at the top. The Google mortgage calculator will give you a rough idea of...
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