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

Mortgage Update December 18 2017

“Mortgage Bonds begin the week modestly lower as Stocks continue to push higher on rising tax reform hopes. In housing news, the NAHB Housing Market Index showed that home builder confidence hit an 18 year high in December. I am recommending locking with Mortgage Bond prices unable to trade above current levels. If anything changes, I will get back to you.
Have a great week!”

Mortgage Update December 15 2017

“Mortgage Bond prices are edging lower as Stocks rebound from yesterday’s decline. There were no major market moving economic reports released today. As the volatile week comes to a close, I am recommending locking. If anything changes, I will get back to you. Have a great weekend!”

Mortgage Update December 14 2017

“Freddie Mac reports that home loan rates were essentially unchanged in the latest week and remain historically attractive. In economic news, Retail Sales surged in November as holiday shopping got underway.
After yesterday’s rally, Mortgage Bond prices are declining, being weighed down by strong economic data and rising Stock prices. I am recommending locking. If anything changes, I will get back to you.”

Mortgage Update December 13 2017

“The Federal Reserve is expected to raise the short term Fed Funds Rate at today’s final meeting for 2017. In economic news, consumer inflation was somewhat tame in November, which is supporting slightly higher Bond prices.
The Mortgage Bankers Association reports that home loan rates were essentially unchanged in the latest week and remain at historically attractive levels. I am recommending carefully floating heading into the Fed statement this afternoon. If anything changes, I will get back to you.”

Mortgage Update December 12 2017

“A rash of unfriendly Bond headlines is pressuring Bonds lower and yields higher this morning. It was reported today that wholesale inflation from the Producer Price Index rose with elevated inflation headlines from abroad.
I am recommending carefully floating into the tomorrow’s Fed statement, which will be released at 2:00 p.m. ET. If anything changes, I will get back to you.”

Mortgage Update December 11 2017

“Mortgage Bonds begin the week near unchanged ahead of the two-day Fed meeting that kicks off tomorrow. There were no economic reports due for release today. Home loan rates continue to hover just above all-time lows.
Ahead of Wednesday’s Fed statement, I am recommending carefully floating. If anything changes, I will get back to you.”

Mortgage Update December 8 2017

“Mortgage Bond prices are near unchanged after the release of the strong Jobs Report for November. Stocks are higher as the rally continues. The next hurdle for Mortgage Bonds and the markets comes next week with the two-day Fed meeting. Home loan rates continue to hover just above all-time lows. I am recommending carefully floating heading into the weekend. If anything changes, I will get back to you. Have a great weekend!”

Mortgage Update December 7 2017

“Stocks and Bonds are near unchanged as the markets do not look to place any big bets ahead of tomorrow’s closely watched Jobs Report for November. Freddie Mac reports that home loan rates edged higher this week though they still remain just above all-time lows. I am recommending short term locking, at least 30- days out. Longer term, floating is prudent. If anything changes, I will get back to you.”