Lenders won't report late payments to credit bureaus! Hat tip to Susie: SACRAMENTO – Governor Gavin Newsom today announced that financial institutions will provide major financial relief for millions of Californians suffering financially as a result of the COVID-19...
Rates changing from 2.875% to 4.0% in less than a week - wow! There is some hope that the Fed will throw more money at the MBS market next week. From MND: With all that in mind, some smart people are convinced the Fed will announce such a balance sheet juicing at or...
Statement from FHFA Director Mark Calabria on Coronavirus FOR IMMEDIATE RELEASE 3/10/2020 ?Washington, D.C. – “To meet the needs of borrowers who may be impacted by the coronavirus, last week Fannie Mae and Freddie Mac (“the Enterprises”) reminded mortgage servicers...
Did you lock? If not, you only lost an 1/8% (or so) today. Tomorrow! Mortgage rates have exploded higher over the past day and a half as the bond market sends threatening signals about a big picture bounce off the recent lows. This is made all the more jarring by...
Even though the ten-year yield has plummeted, mortgage rates have been slow to follow - they actually went up a little today. Today, we heard the all-time best excuse, which explained everything: "We're too busy", said the mortgage industry, which is code for 'we are...
Does this mean mortgage rates will get into the mid-2s? Probably not - the 10-year yield hasn't moved much, and mortgage lenders are slow to match any declines. But we could see 2.75% this week! The Federal Reserve announced an emergency rate cut Tuesday of half a...
Mortgage rates officially hit all-time lows this morning. Even so, it continues to be the case that Treasury yields (often referred to as the basis for mortgage rates) are falling much faster. That's because Treasuries aren't actually the basis for mortgage rates. ...
The MND's survey above are today's rates with no points, which means that homebuyers who are willing to pay a point or so will be getting a mortgage rate starting with a 2! While there is certainly a big concern about the coronavirus affecting the world economy - and...
A great introduction by the reverse-mortgage guy Dean Jones (who can be reached at 760-458-2755). Basically with FHA you can borrow $300,000 to $400,000 depending on your age, and with his non-FHA portfolio loan it's a little more:
Let's get back to it! Thanks to SM for sending in the official FHFA news release about the conforming-loan limits being raised for 2020. The new limit in San Diego is $701,500. This interactive map shows how America's high real estate prices are isolated to just a few...
