Interest Rates Up Again… a Lot!
Interest rates are now up about 1% from their rock bottom lows of a few months ago. The inevitable interest rate increase from all-time lows is continuing. Investors have continued to sell stocks and...
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...
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Historical Interest Rate Chart
It seems the big discussion in the mortgage world lately has been about interest rates. I think it is important to put the discussion into some context, and what better context than to look at interest...
View Article96.5% FHA Loans Versus 95% Conventional Loans
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 Conventional loan. I think it may encourage some buyers to...
View ArticleThe Refinance Boom is not Over? Refinance Your 30-Year to a 15-Year!
Actually, the refinance boom is indeed over; however, there are a fair amount of people that still need to refinance. For example, I know of many people who have excellent interest rates on their...
View ArticleThe Refinance Boom is not Over? Refinance Your Fixed Rate to an ARM!
Actually, the refinance boom is indeed over; however, there are a fair amount of people that still need to refinance. For example, I know of many people who have decided to move sooner than they...
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220 Year History of Rates
I wrote a blog last fall that included 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...
View ArticlePMI versus LPMI versus 1st trust/2nd trust Combo Loan
Everyone likes to think PMI (Private Mortgage Insurance) is evil. Everyone likes to think they should not have to pay it, and everyone wants to find a way around paying it. There are ways to work...
View ArticleWaiting to Buy, is it a Good Idea?
I have had numerous clients mention recently that they may wait to buy because they want to save for a larger down payment to have a 20% down payment and avoid mortgage insurance. While it is laudable...
View ArticleRates Are Going Down, Down, Down, Except They Are Not.
A common refrain I hear from mortgage borrowers is that rates are going down when they are not. I had a client insist recently that he knew rates were going down, and he expected a better interest rate...
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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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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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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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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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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 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...
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%....
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 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 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...
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