We had an appraisal sliced to ribbons yesterday by a review appraiser, and that was the impetus for this blog. The appraiser thought he was doing us a favor by coming in at contract price, but...
The government was shut down for a record 43 days and … the mortgage and real estate industries hardly noticed. We had one flood insurance issue at JVM, but our buyer was able to find private flood...
A home equity line of credit, or HELOC, lets you tap into your home’s value for flexible financing. This guide explains how a HELOC works, what to expect during the draw and repayment periods, and...
An alarmingly bad “Challenger Job Cuts” surfaced today, and rates fell as a result. Among other things, we’re seeing a 22-year high in announced job cuts, and hiring plans are down a whopping...
Rates climbed again today, and the reason is interesting. I explain more with my rate quote below. I blogged a few weeks ago about the expansion of DSCR loans, which allow investors to qualify with...
The Fed cut the Fed Funds Rate by 0.25%, exactly as expected, and long-term rates shot higher shortly thereafter – and they are again higher today. Rates shot up largely in response to Mr....
Today is “Fed Day,” and the market has already “priced in” or accounted for a 0.25% cut in the Fed Funds Rate (93% chance per the betting markets). This is a quick reminder, too, that the Fed...
Rocket Mortgage recently announced its estimates for the new conforming loan limits for 2026: $825,550 for low-cost areas, and $1,238,500 for high-cost areas. There are so many interesting takeaways!...
I get asked “when will rates fall?” several times every week. And my answer is always – “I am not sure, but I remain on team-falling-rates for several reasons.” When […]
If aliens swooped down and stole 90% of the world’s cattle tonight, the cost of beef would likely increase at least tenfold. And the Fed’s response would be to raise interest rates to bring down...
I am a sucker for tradition – and that is why my wife and I so zealously celebrate government shutdown season every year. We, of course, buy a shutdown tree and adorn the entire house with shutdown...
Rates have done nothing but go up since the Fed cut the Fed Funds Rate last Wednesday. We saw another spike in rates this morning as the bond market reacted to much stronger-than-expected economic...
For years up through 2022, agents and loan officers alike repeated the mantra: “Marry The Home; Date The Rate”. The meaning was this: Worry about the house because it is more permanent; don’t...
The Fed only controls short-term overnight rates, not long-term rates like mortgages and the 10-Year Treasuries. Long-term rates are influenced by two things only: (1) Growth expectations, and (2)...
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