First Time Home Buyers
Currently viewing the tag: "Freddie Mac"
For the first time in 6 weeks, the rate rally failed to continue. In general, stocks gained, mortgage rates lost. Slightly.
On the week, we closed down about 12 basis points, but it wasn’t without volatility.
The chart to the right is the mortgage bond pricing, by day (reminder: higher pricing = lower [...]
Continue Reading →Mortgage rates improved last week as the mortgage bond market improved by yet another 41 basis points. This marked five weeks of improved interest rates on FHA and conventional loans.
Continue Reading →Mortgage rates keep pushing on these historical low levels, but not everyone is qualifying for the headline rate from Freddie Mac of “4.57 percent with an average 0.7 point.”
Continue Reading →Somewhat surprisingly, the national average for closing costs is going higher while mortgage rate averages are going lower.
Continue Reading →The 5/1 ARM is pulling away from the 30 Year Fixed. This is a big change in loan options versus a year ago. The 30 Year Fixed v. 5/1 ARM comparison this time last year was $0 difference.
Continue Reading →Small changes in mortgage rates can mean big changes. Just a 0.25% means $45/month on a $300,000 home. Even bigger, it means over $16,000 of more or less total interest over the life of the loan.
The problem is that the “news” increasingly likes to cover a report that is outdated before it is even [...]
Continue Reading →What is a loan level price adjustment (LLPA)?
This has become one of the more frequently asked questions for mortgages in today’s lending environment. Conventional loans carry loan level price adjustments. Fannie Mae and Freddie Mac both have a matrix that charge an adjustment based on credit score and loan to value.
A few examples, [...]
Continue Reading →A foreign tax credit or deduction is a reduction of U.S. tax liability resulting from the payment of foreign taxes on income earned overseas.
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