Tag Archive for: refis

High Rates; Softer Market; ARMs; Housing Shortages; Recessions; Refis

/in ,
Highest Mortgage Rates Since 2009 Last week’s sky-high inflation numbers have pushed 10-Year Treasury rates to levels we have not seen since 2018. While mortgage rates are at levels we […]Read More

How Likely Are You to Get an Appraisal Waiver? Hint: Not Very :)

/in ,
Why We Refused Refinances In 2020 This is a quick aside but a reminder that we stopped accepting refinance applications in 2020. It cost us millions in lost revenue but […]Read More

How Monkeys Close Loans in 10 Days; Purchases? Not So Much…

/in ,
30-MINUTE LOANS Closing a conforming (Fannie/Freddie) refinance for a W2’d employee with good credit can take less than 30 minutes of effort on the part of a lender. This is […]Read More

Fed Speaks – Rates Up; Paying Off Student Loans With Mortgage; Interest-Only Loans

/in ,
Fed Chair Powell spoke yesterday and sent the bond market into a tizzy, as investors sold off their bonds and pushed rates sharply higher. What crazy thing did Powell have […]Read More

Purchase Applications Hit 11 Year High; Refis = 63% of Volume

/in ,
The Mortgage Bankers Association surveys multiple mortgage banks every week and then releases all of the data. The most recent survey, discussed in this National Mortgage News article, is particularly […]Read More

Mortgage Rates Barely Move; Hell Actually Breaks Loose; Fed Cuts Rates to Zero

/in ,
FED CUTS FED FUNDS RATE TO ZERO; $700 BILLION IN QUANTITATIVE EASING In a shocking and surprise weekend move, the Fed cut the Fed Funds Rate to 0% yesterday – […]Read More

Do Borrowers Get to “Skip” a Payment When They Refinance?

/in ,
NO COST DOES NOT MEAN NO “CASH TO CLOSE” Almost all of our refinances are “no cost” loans, meaning that we, as a lender, cover all of the “non-recurring closing […]Read More

What Ever Happened to Shadow Inventory? Gov’t Policy Worked?

/in
For years after the foreclosure crisis of 2008 and 2009, everyone expected a huge surge of “shadow inventory” properties to flood the market. This never happened, and will likely not […]Read More

As Values Climb, Refi’s for Many Now an Option

/in
We have a borrower who has been stuck with a 6.5% interest rate for years b/c he thought he did not have enough equity in his Antioch home to refi. […]Read More