Tag Archive for: mortgage rates

1% Drop In Rates Brings 5 MILLION Buyers Into the Market; The Real Crash: Interest Rates

Joe Brown, Jeff Snider and Stephanie Pomboy spent the weekend just shredding Friday’s BLS jobs “positive” report. They pointed out how full-time (as opposed to part-time) job numbers are actually falling; how wages are flat (they’d be increasing if the labor markets were actually tight); how the BLS estimates are suspect and constantly getting revised; and how many of the jobs created were part-time, 2nd, or government jobs. In other words, the BLS is full of BS.Read More

Rates Hit New Record; Credit Card Stimulus; Rosenberg Says Today = 2007; Dollar Is Surging; CA Insurance Crisis; Thank God I Was Stupid In 1995

Mortgage rates hit a new 23-year record high today partially in response to initial jobless claims coming in lower than expected. Rates increased because investors know how much the Fed focuses on employment. But, I only wish the Fed would read my blogs about how unemployment only jumps after we are in a recession.Read More

Rates Shoot Dangerously High After Fed Said Rates Would Hold; What Gives?

I spent ALL morning thinking about chunky highlights; gaucho pants; “wide-ass belts"; swoopy, floppy hair; wide headbands – and many other things that were cool in 2007, but aren't cool now! My 2007 obsession was fostered by the fact that the 10 Year Treasury Yield hit a level we have not seen since that glorious year (you should have seen my chunky highlights!)Read More

Buyers Waiting For Rates to Drop (Solutions); It’s “Fed Day” too!

There are approximately 735 million buyers (give or take 734 million) on the fence right now, "waiting for rates to come down" - before they buy.Read More

Assumable Mortgages; How to Get a 3% Mortgage in a 7% World

A startup called Roam was all over the news yesterday because they just got startup funding. Roam’s founder says his new company will find and advertise home listings attached to attractive assumable mortgages… and I thought good gravy (again). This is actually a double good gravy news item, given all the airplay it got, and given how trivial it is.Read More

When Will Mortgage Rates Drop?

Mortgage Rates Will Drop 2% On January 8, 2024! Or not, because nobody has a clue what will actually happen. A recession was delayed due to stimulus, but it is coming, and rates will fall – likely sometime between October and Q1 of 2024.Read More

Why So Many Lenders Have Rates Below the National Average (it’s not what you think)

We got the JOLTS report yesterday and the ADP report today, and among other things, we are seeing: (1) slower job creations; (2) the creation of part-time jobs instead of full-time jobs, making new jobs data much less rosy; (3) the double counting of new jobs because of the way openings are posted online; (4) “quiet cutting” where employers shift employees into lower-paying jobs; (5) much less job switching; and (6) less confidence in employers, based on employee surveys.Read More

There Is Not Going To Be A Soft Landing – Most Important Blog This Year!

This may be the most important blog I write all year because it will impact how readers invest and plan for the future – and it openly refutes the mainstream […]Read More

Middle Class Homeowners Take On $7,000/Month Payments – Expecting to Refi; Dangerous or Smart?

4 Million Listings in 2007 vs. 600,000 Today I spoke at a marketing event yesterday about “why I expect 0% rates in 2024; what that means; and why 2024 could […]Read More

WHEN Will the Recession Come?

EVERYONE expected the entire country and much of the world to be mired in a horrible recession by now. And yet, we’re still growing. I blogged about the reasons why […]Read More

Rates Climb 1/2%! Will It Last? What’s Going On?

Rates have shot up almost 1/2 percent since late June – taking a particular beating over the last week (largely in response to strong employment data). We are back to […]Read More

How Buyer-Reality-Checks Sell More Homes

When Is 7.99% At 1.5 Points An Awesome Mortgage? The answer to the above subheading is easy – a 7.99% mortgage is awesome if the alternative is a 9% mortgage […]Read More

10 Year Treasury Yields Vs. Mortgage Rates (Great Info & Good News!)

When borrowers used to ask us the best way to track the direction of mortgage rates, we would tell them to track the 10 Year Treasury Yield because mortgage rates track 10 Year relatively closely. The problem though is that the spread between the 10 Year Treasury Yield and mortgage rates has grown much larger since the Fed started to raise interest rates last year, and they have not been moving in lockstep over the last year.Read More

Deciphering Bullsh*t Rate Quotes

As loan officers fight tooth and nail for business in a very low-volume environment, we are seeing desperation on the rate-quote front … again. We saw so much nonsense last week alone that I felt compelled to blog about it again.Read More