fed

More Good News for Mortgage Rates on the Horizon

Despite the fact that mortgage rates are already in record territory, the Fed doesn’t seem to be satisfied just yet. The Federal Reserve has played a part in pushing mortgage rates lower via a strategy known as “Operation Twist,” which is the method in which they replace their short-term debt holdings with long-term debt. That… Read More »More Good News for Mortgage Rates on the Horizon

The post More Good News for Mortgage Rates on the Horizon appeared first on The Truth About Mortgage.

30-Year Fixed Mortgage Rate Drops to New Record Low For Third Consecutive Week

Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on…

Responsive to Data But Still Range-Bound

After having a case of the Mondays yesterday (unclear motivations and range-bound weakness amid low volume and light liquidity) bonds are back in the office and experiencing some more logical reactions to econ data, even if they have to teach for reports that normally wouldn’t move the needle.  S&P Global (formerly “Markit”) PMI data is the lesser of the two PMIs in the US despite being the most relevant PMI data in Europe.  It has had more and more of an impact over the past few years and today’s example was clear.  Nonetheless, bonds are finding a reason to push back into stronger territory as the morning progresses. There were a few rate-friendly newswires from the ECB that helped the recovery as well as some downbeat econ data from the Richmond Fed, but those factoids could just as easily be argued to be “analysis chosen to fit the trading.”  In the bigger picture, the range remains the dominant theme as markets wait for a clearer sense on how a potential Fed pivot (and inflation/econ pivot) may unfold.  Despite the small scale volatility, bonds remains very much range-bound between 3.42 and 3.62.  Today’s resilience also incidentally makes for the 3rd day in 2 weeks where 3.55-ish has come into play as a supportive ceiling–just something to watch in the coming hours and day in the event bonds start losing ground again.

30-Year Fixed Mortgage Rates Rise Slightly for Second Consecutive Week

Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.16 percent, up from 4.11 percent.

Hedging, QC, CRM, Insurance, Pre-Qual, Relationship Management Products; Disaster News; Customer Service

Conference attendance in 2023 may be down, given layoffs and budget cuts, but here’s a handy dandy list of events this year and state organizations. (Click on “Conferences” on the right; for any additions or corrections, contact Ed.) Here at the MBA’s IMB conference, it’s not much fun talking about revenue and margins. So, let’s talk Vitamin C! San Diego County, and California, ranks first with 59 percent of the U.S. citrus production. And when life gives you lemons, you make lemonade. What about when life gives you plenty of barren areas of snow? Thank you to Len T. for this one, reminding us that some people have inordinate amounts of time on their hands. And thank you to Michael Chan yesterday who sent the real estate version of Wordle if you will, where you guess the price of the house. (Watch for those oceanside house prices!) Yes, there are plenty of people out there looking at housing, and the amount for sale. On Friday NAR reported that total housing inventory levels broke under 1 million in December, dropping to 970,00 units. (This week’s podcast is sponsored by Richey May, a recognized leader in providing specialized advisory, audit, tax, technology, and other services in the mortgage industry and in banking. Listen to an interview with Curinos’ John Sayre on the latest statistical trends in the mortgage industry and what to look forward to in 2023.) Lender and Broker Software, Products, and Services ICE Mortgage Technology announces Affordable Lending Analytics Solution. Matching potential homebuyers with affordable lending programs is a challenge. This is often because many loan officers lack the knowledge or tools to easily identify eligible borrowers. ICE Mortgage Technology® recently announced a new Affordable Lending Analytics solution that is designed to help lenders effortlessly identify affordable lending opportunities within their pipeline, match borrowers to funds, and turn more people into homeowners. Matching potential homebuyers with affordable lending programs is a challenge, often because many loan officers lack the knowledge or tools to easily identify eligible borrowers. ICE Mortgage Technology® recently announced a new Affordable Lending Analytics solution that is designed to help lenders effortlessly identify affordable lending opportunities within their pipeline, match borrowers to funds, and turn more people into homeowners. Click here to learn more and receive the latest updates on ICE Mortgage Technology Affordable Lending Analytics.

Cooler inflation data sends mortgage rates lower

On Tuesday, CPI data came in cooler than expected, and the bond market loved it, driving mortgage rates lower.

Mortgage rates near 6% unleash horde of homebuyers, and even lower rates could be on the way — but economists warn consumers are still ‘not invincible’ – Yahoo Finance

Mortgage rates near 6% unleash horde of homebuyers, and even lower rates could be on the way — but economists warn consumers are still ‘not invincible’  Yahoo Finance

Putting Down Roots 40 Feet Up: Life in a Fire Lookout

“You don’t hear sirens, you don’t hear traffic. You hear us. There’s nothing like that.”