Mortgage Update December 29 2017

“Mortgage Bonds begin the last day of 2017 near unchanged while Stocks continue their winning ways. There were no economic reports released today in this quiet holiday shortened session. Home loan rates are ending the year just above historic lows. Heading into 2018, I am recommending carefully floating. Happy New Year!”

Mortgage Update December 28 2017

“After the strong gains seen yesterday, Mortgage Bonds are flat to slightly lower this morning in quiet trading. Freddie Mac reports that the 30-year fixed-rate mortgage rose this week though it still remains historically attractive. I am recommending carefully floating. If anything changes, I will get back to you.”

Mortgage Update December 27 2017

“Mortgage Bonds continue to hammer out a bottom and trade in a sideways pattern before moving into the new trading year. Later this morning, Consumer Confidence and Pending Home Sales will be released. This afternoon, the results from today’s Treasury auction will be announced. I will continue to recommend carefully floating. If anything changes, I will get back to you.”

Mortgage Update December 26 2017

“Mortgage Bonds begin the holiday shortened week near unchanged as they continue to try and stabilize after their recent slide. The week looks to be on the quiet with just a few economic reports. Home loan rates are ending 2017 just above all-time lows. I am recommending carefully floating. If anything changes, I will get back to you. Have a great week!”

Mortgage Update December 22 2017

“Mortgage Bonds begin this holiday-shortened trading day near unchanged while Stocks are in negative territory. In housing news, New Home Sales rose nearly 18% in November from October to a 10-year high. Heading into the long holiday weekend, I am recommending carefully floating brand new files. If anything changes, I will get back to you. Happy Holidays!”

Mortgage Update December 21 2017

“Mortgage Bonds are being weighed down by the continued rise in the U.S. Stock markets. In economic news, third quarter Gross Domestic Product remained strong, the Philly Fed Index was better than expected, while Weekly Initial Jobless Claims rose. Freddie Mac reports that home loan rates were unchanged this week and remain just above all-time lows. I continue to recommend locking until I can see some clear signs of stabilization in Mortgage Bonds. If anything changes, I will get back to you.”

Mortgage Update December 20 2017

“Both the House and the Senate passed the tax bill yesterday and as a result of the good news, which Bonds don’t typically like, prices are lower and yields are higher. In housing news, November Existing Home Sales hit an 11-year high surging 5.6% from October. The Mortgage Bankers Association reported that home loan rates edged lower last week and remain historically attractive. I continue to recommend locking as I look for signs of stabilization in the Mortgage Bond market. If anything changes, I will get back to you.”

Mortgage Update December 19 2017

“Mortgage Bonds are edging lower this morning, despite flat to lower Stock prices. In housing news, November Housing Starts were better than expected, while Building Permits declined from October. Home loan rates remain just above historic lows. I continue to recommend locking. If anything changes, I will get back to you.”

Conventional Loan Limit Increase for 2018

For the second year in a row, the FHFA is increasing the conventional loan limits for Fannie Mae and Freddie Mac in 2018. The FHFA made this change in response to the increasing home prices across the United States. View the chart below for the 2018 conventional loan limit in your region. If you are interested in purchasing a new home or refinancing your current home, call me to discuss your home financing options.

Conventional Loan Limit Increase