The Best Mortgage Rates

August 17th, 2019
fifty percent off

Often a client will start a mortgage loan conversation with, “I need to get the best rates.” And that often confuses me. What does the “best rates” mean? Does that mean you won’t work with a lender who doesn’t have the very lowest interest rate on the day you are ready to lock-in an interest rate? Does it mean you won’t give any consideration to experience, execution, responsiveness and delivery?

 

Would most people work with a mortgage lender willing to lose money? Read the rest of this entry »

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Latest Bond Market Report

June 16th, 2019
bond market report

The 10 Year Treasury Bond was at 2.08% as of last Friday*. This is the lowest it has been in a long time.

QUESTION: But what does this mean for mortgage rates?

ANSWER: In general, mortgage rates are flat recently, but down over the last few months.

QUESTION: Do mortgage rates rise and fall in lockstep with the 10 Year Treasury Bond?

ANSWER: No.

QUESTION: What variables affect mortgage rate quotes.

ANSWER: Loan size, loan type, property type, credit score, down payment, debt ratios, and more.

 

Where are the 10 Year Treasury Bond, and more importantly mortgage rates, headed next? Check back here to see!

 

*The source for the 10 Year Treasury Bond quote comes from here: https://www.marketwatch.com/investing/bond/tmubmusd10y?countrycode=bx

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Bond Market Report

April 21st, 2019
bond market report

 

The 10 Year Treasury Bond is at 2.56% as of last Friday. This is about the same as the last time I posted 10 Year Treasury Bond data in early January.

On 01-03-2019 the 10 Year Treasury Bond was 2.55%.

The 10 Year Treasury Bond is not a direct correlation to mortgage rates. It is simply a good to know historical information on treasury bond rates.

Below are some interesting historical numbers*:

In 2018 the average yield of the 10 Year Treasury Bond was 2.91%.

In 2017 the average yield of the 10 Year Treasury Bond was 2.33%.

In 2007 the average yield of the 10 Year Treasury Bond was 4.63%.

In 1997 the average yield of the 10 Year Treasury Bond was 6.35%.

In 1987 the average yield of the 10 Year Treasury Bond was 7.18%.

In 1977 the average yield of the 10 Year Treasury Bond was 7.42%.

Where is the 10 Year Treasury Bond headed next? 

 

*The source for these numbers comes from: https://www.macrotrends.net/2016/10-year-treasury-bond-rate-yield-chart

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Bond Market Report

January 4th, 2019
bond market report

 

I am going to post numbers on the 10 Year Treasury Bond on a regular basis. The 10 Year Treasury Bond is not a direct correlation to mortgage rates, but it is a good number to know.

 

As of 01-03-2019 the 10 Year Treasury Bond was 2.55%.

 

Below are some interesting numbers*:

In 2018 the average yield of the 10 Year Treasury Bond was 2.91%.

In 2017 the average yield of the 10 Year Treasury Bond was 2.33%. Read the rest of this entry »

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Interest Rates And Your Monthly Mortgage Payment

April 21st, 2018

Interest Rates And Your Monthly Mortgage Payment Is Impacted

 

Many people are very focused on interest rates these days and are wondering where they are headed next and how it may affect their mortgage payment. Interest rates have been historically low for a very long time, and people are starting to fear that they may increase and have an outsized impact on the cost of purchasing a home.

 

You can see a chart of the long-term history of interest-rates by clicking here.  This chart shows that we are definitely near the bottom of where interest-rates have been over a long period of time. On the other hand, if interest-rates start to go up does it have as much of an impact as people think? Read the rest of this entry »

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No cost refinancing a.k.a. no cost refi

January 2nd, 2018

No cost refinancing, does it exist?

I frequently have people ask me for “one of those no-cost refi’s”. Some people think that mortgage lenders are so hard up for business that they are willing to lose money and simply pay the closing costs for the mortgage borrower. I don’t know of any businesses where losing money is part of the process of making money. A no-cost refi actually comes with a cost…a higher interest rate.

The reality is that a no-cost refi is one where the closing costs are built into a higher interest rate. Read the rest of this entry »

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Does It Really Matter Where Your Loan Officer Is Located?

July 13th, 2017

Does It Really Matter Where Your Loan Officer Is Located?

It is very common for realtors to ask a homebuyer who their mortgage loan officer is and where they are located. There is a belief that a lender, and for that matter all the service providers to a real estate transaction, needs to be very local.

 

Realtors assign some magical powers to a mortgage loan officer who is Read the rest of this entry »

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Interest Rates Are Still Low. Or Did They Go Up? Are They Down?

April 24th, 2017

Interest Rates Are Still Low. Or Did They Go Up? Are They Down?

Interest rates rose after the presidential election. The news from the bond market according to MBS Online was “Trump has advocated for greater spending on defense and infrastructure, and at the same time he proposes to cut taxes. These policies raise the prospects for increased deficits and inflation, neither of which are good for mortgage rates.”1

 

Recently rates have come back down a bit. Rates are Read the rest of this entry »

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How To Find The Best Mortgage Lender

October 21st, 2016

best-mortgage-lender-getloans-blogWhen comparing mortgage lenders there are many things to consider. If you want to save time follow the below steps on how to compare mortgage lenders. Time is valuable and these six steps should help you find a good mortgage lender: Read the rest of this entry »

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