This video is classic Marc! He says long US bonds short term so if this is true mortgage rates should head lower for the next 2-3 months and I agree. We will not hit the old highs last fall but the purchase and refinance markets will benefit.
Well it has been awhile since I have posted updates on mortgage rates. Just about a month if your counting. The holidays, many end of the year mortgage closings along with depressingly higher rates has kept me from posting. What is strange is that the stock market keeps chugging higher. The cheer leading drumbeat on CNBC provides many moments that I am reaching for the barf bag these days.
One of my new years resolutions is to post more often. It is an exciting time in the South Florida real estate and mortgage market. Activity is way up but prices keep dropping. More and more deals are cash even though mortgage rates continue to hover at remarkably low levels.
As of this weekend rates are in the 4.75% range for 30 yr fixed loans for FHA, VA and Conventional loans. Have a great weekend watching the playoffs. I know I will.
Mortgage rates in Florida and across the country rose again along with the 10 year T-Bond. To add injury to insult many mortgage lenders had a late evening Friday price change for worsening pricing! Not a good way to start the weekend and grab any last refinances that may still be out there.
The amazing thing about swings in markets is that they start with everyone leaning the wrong way then look like a regular correction. Then the major moves that occur just keep digesting news that should be negative, the market takes as a positive or just shakes it off and keeps on running.
The latest example is that since the elections rates on the 10 yr have moved from below 2.50% although up to a close Friday of 3.32% That is ugly!
Mortgage Rates continue to push higher dashing hopes for the floating refi’s put in process last month.
The Mortgage Bond Market took a beating that left many homeowners and mortgage bankers alike wondering what to do now. Many had hoped for a little better mortgage rate than the 50 year lows they were quoted but in 2 days those rates were a lost dream if they hadn’t locked in on their mortgage rate.
I love the ideas in this video. Well maybe the idea about the water saving more than the dog poop composite invention.
Gold getting crazy here;
I found this article had some good things in it as well as some not so good things. The housing market will continue to see downward pressure on pricing but rates should stay low for mortgages from one of the two housing giants owned by the Federal Government.
I found a great article a few weeks back on the FHA 203k Renovation loan so I thought I would share a short video on the FHA backed mortgage for homes that need renovation. There are also renovation loans available as conventional loans as well that can be used to renovation 2nd homes or investment properties that need some work. The renovation can be minor or major regarding the amount of renovation needed. The FHA 203k loan also comes in a streamlined version that is called the FHA 203k Streamline loan.
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