If you attended the recent Conference of Regional MBAs in Atlantic City, you heard Barry Habib, President of MBS Highway, talk about why he believes we may see another surge in refinances if/when the Fed raises short-term rates (Rates). Barry made a similar prediction last year of decreasing rates and was correct. We did see loan rates drop when the…
They may not be one of the 68 teams that made it to the big dance for March Madness, but like each team in the NCAA tournament, the FED says it “ain’t gonna be one and done”. They want to play on…(Fed Rates). In the December FOMC meeting, Janet Yellen, and the Fed, raised the short terms slightly. No real surprise…
Here we go again. The Fed raises rates but the mortgage rates drop. Rates are up; rates are down. Now is a good time to buy; now is a good time to refi. Which is it? The mortgage market is a crazy business. When rates start to rise, it’s time to get off the fence and buy. However, when rates…
Real estate agents are complaining that with the new TRID rules, lenders now refuse to provide them with a copy of the Closing Disclosure for review prior to closing (CD Block). Strange, I don’t recall lenders providing Realtors with a draft copy of the HUD-1 prior to the closing before the new rules were implemented. Once again, TRID gets the…
Another new term in the world of home financing opportunities. No, not someone who lost a home to a fire, but rather someone who is just plain sick and tired of trying to refinance their home and reduce their debts. Do they now represent the potential for a new wave of refinances in 2016? I think so. (Burnouts) Freddie Mac…
The outlook for housing and mortgage lending in 2016 appears to be somewhat mixed. Home values are stabilizing and increasing in many markets but low inventory makes it difficult for first-time homebuyers to find affordable homes. Interest rates have remained low but refinances have declined and the Fed is still talking about raising interest rates. Fannie and Freddie both project…
