That’s right, conventional mortgage refinances just got more expensive. Both Fannie Mae and Freddie Mac issued bulletins on August 12,2020 announcing the implementation of a new “Adverse Market Refinance Fee” which will apply to all conventional refinance mortgages closed on or after September 1, 2020. The bulletins state that the new fee of 0.5% of […]
Why is it that mortgage rates didn’t drop more after the fed cut the rate? Because the Fed rate is NOT what mortgage rates are based on. I will try to explain. Please try to stay awake, it’s not the most exciting topic for most people. Let’s start off by explaining the Fed rate. The […]
Markets In A Minute for week ending May 31, 2019: Home prices continue to rise This week on The Markets In a Minute: Home prices continue to rise Prefer video to reading? The click now! Economic growth in Q1 accelerated, but momentum is slowing. Inflation pressures were much weaker than initially thought, supporting lower rates.. […]
Markets In A Minute for week ending May 17, 2019: Lots of good news in the new home market This week on The Markets In a Minute: Home builders see a bright future Prefer video to reading? The click now! Trade tensions with China increased this week, causing stocks to fall and bonds to improve. […]
Markets In A Minute for week ending May 10, 2019: Guess what 3 things helped interest rates this week This week on The Markets In a Minute: Three things helped interest rates this week, remodeling labor shortage and more Prefer video to reading? The click now! Tweets by President Trump reignited investor concerns over the […]
Markets In A Minute for week ending April 12, 2019: Good feelings about the housing market This week on The Markets In a Minute: Good feelings about the housing market, more jobs, and more Prefer video to reading? The click now! The consumer price index rose less than forecast in March. A key measure of […]