I hope everyone enjoyed a great Thanksgiving with friends and family and we can also give thanks to lower mortgage rates which increased demand AGAIN last week. Purchase applications were up 3.9% and refinance applications increased 1.6%. This is beginning to prove the point we have been making – when rates go down demand will […]
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Entries by Andy Cruz
Mortgage rates were trending down for their third straight week. Mortgage application demand increased in response to the decline. This is such welcome news relative to the highs from just a few short weeks ago. Hopefully this sets a precedent moving towards the end of 2023, because Lawrence Yun, Chief Economist of NAR is expecting […]
It’s a short week this week but did you see that mortgage rates we’re down again last week? Yeah hard to believe but mortgage rates were trending down for their third straight week and the timeliness of this being Thanksgiving week definitely gives us something to be thankful for. Although we can’t claim that we […]
Last week a new article came out that the Agent commission lawsuits cast long shadow over VA, FHA borrowers, but we’re pretty certain there will be modifications to that before making it all the way down to the consumer. Meanwhile, mortgage rates took a breather and continued to get EVEN better so far this week!
The agent lawsuit drama didn’t calm down at all last week, in fact it might have actually heated up. The conversation about the verdict turned its attention to FHA and VA borrowers. Which of course are both important to us as a VA mortgage focused lender. Some of you watching this might know that seller […]
Wow talk about 2 competing headlines last week. The Federal Reserve paused interest rate hikes and a MASSIVE lawsuit was decided last week leaving Real Estate Agent commissions in the crosshairs in the future. On both counts there is still a lot of dust to settle, but for now, check out what we think is […]
By now you probably already heard that Jerome Powell and the Federal Reserve paused interest rate hikes at their meeting last week. The market at large was expecting this to be the meeting that would announce this pause so there was no real surprise. However it is still concerning that they are actively communicating that […]
We know that solutions may feel few and far between right now, but this week we kick off the show with two topics that could very well open up finance options for homeowners! In this episode we discuss: Scenarios that are working in the market RIGHT NOW ADUs can now be sold separately in California […]
In case you’ve been living under a rock, the US debt is climbing like crazy! Fed Chair Jerome Powell and other policymakers have indicated the surge in longer-term Treasury yields may reduce the case for continuing to hike the central bank’s benchmark interest rate. The FOMC announces their rate decision Wednesday of this week and […]
Mortgage Demand Plummets as Rates Hit 8% But Homeowners Still Have Options. The mortgage crunch continues to make national headlines as the industry and consumers battle increasing interest rate environments as well as affordability in the housing sector. Despite this, homeowners who have secured a low interest rate first loan still have access to large […]
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