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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Rates are trending higher

 
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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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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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What are the Factors That Impact Your Interest Rate?

It’s no secret that a lower interest rate can mean significant savings over the life of your mortgage. Although interest rates are largely dictated by market performance, there are other factors that influence the rate you receive. When comparing your loan options, it helps to know how your interest rate was derived and what mistakes to avoid when shopping around.

In addition to market performance, home loan interest rates are influenced by six major factors: loan amount, loan type, loan duration, discount points, closing costs, and credit score.

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6 Factors that prove buying is better than renting

Making The Right Decision

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6 Costly Mistakes Buyers Make When Shopping for the Best Interest Rate

We recently wrote about how mortgage interest rates can have a direct impact on your purchasing power. Logic would follow that by shopping for the best interest rate, you’ll maximize your purchasing power, right?

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