China retaliates... mortgage rates drop

The Headline was pretty somber

China is raising tariffs on $60 billion of US goods starting June 1.  The markets are selling off.  As of 9:27am, the futures are down over 500 and the stock markets are set to slide again for the second week in a row.

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Are interest rates going up?

We may be in for an Interest Rate crash

Rates have been going in the right direction for quite a while and I don't see the air leaking out of the tires just yet; however as I'll explain, the charts make me nervous! 

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February Home Sales Jumped to an 11-Month High

It’s good to get data from all over. But somehow when you get it from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, it seems even more official.

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MEETING YOUR NEIGHBORS NEVER GOES OUT OF STYLE!

In new home neighborhoods when homebuyers are seeing moving vans around them with regularity, it’s not unusual for people to meet one another while emptying boxes or comparing notes on floor plans and upgrades. Everyone is new and has a lot in common right off the bat. But when you move into an established neighborhood, it’s more of a challenge to meet your neighbors.

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A MORE BALANCED REAL ESTATE MARKET MAY BE IN OUR FUTURE!

The real estate tide is turning, according to Fortune Magazine’s Chris Morris. What was once a seller's market, complete with frenzied offers and multiple bidding, is beginning to smooth a bit, becoming what Realtors refer to as a “balanced market” where homes stay on the market a tad longer, and buyers actually have a chance to negotiate.

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MANUFACTURING, FED, TRADE WAR, AND OTHER FACTORS HANG OVER RATES

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CHINA TRADE AND FED COULD PUSH VOLATILITY INTO RATE MARKETS

TODAY'S MORTGAGE RATE SUMMARY

HOW RATES MOVE:

Conventional and Government (FHA and VA) lenders set their rates based on the pricing of Mortgage-Backed Securities (MBS) which are traded in real time, all day in the bond market. This means rates or loan fees (mortgage pricing) moves throughout the day, being affected by a variety of economic or political events. When MBS pricing goes up, mortgage rates or pricing generally goes down. When they fall, mortgage pricing goes up. 

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Mortgage Q&A with Rick Episode 1

15 vs 30, tricks with PMI, buying down your interest rate and when to lock in

As I start these episodes, I'm reminded of the encouragement I got from an employee of mine. He told me that I give a lot of great advice and have been blessed with much wisdom in my field... that it's a shame to not have it all written down somewhere for others to learn from. It's for that purpose, I've been intent on including in this blog advice I give to my clients, team and business partners during my time as a loan officer.

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Sellers Beware!  Statistics show that over 10% of your Buyers won't follow through.

It's a real problem

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Things to Consider When Buying a Condo Using Your VA Benefits

Condo living can provide a convenient and affordable alternative to renting or purchasing a single-family residence. But before you commit to buying a condo with your VA benefits, here are four key things to do:

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