Happy Holidays! With this being a short week due to Christmas, we may see a bit more volatility with mortgage rates with many traders taking time off for the holidays. Markets will be closing early on Tuesday for Christmas Eve and will be closed all day Wednesday. Here are some of the economic indicators scheduled to be released this week:
What May Impact Mortgage Rates this Week: December 23, 2014
December 23, 2013 by Leave a Comment
2014 VA Loan Limits for Washington State
December 21, 2013 by 2 Comments
2014 VA loan guarantee limits for Washington State have been released. VA loans do not have “limits” like conforming or FHA loans. They do have limits as to the amount VA loans will guarantee. The loan amounts below reflect what VA will lend up to 100% loan to value. Loan amounts above the limits below have reduced down payments for Veterans who qualify for this benefit.
Lenders Increasing Extension Fees
December 19, 2013 by Leave a Comment
I’m receiving notices from a couple of the lenders we work with that they are temporarily increasing rate lock extension fees due to Fannie Mae’s increased guarantee fees (LLPA) that will hit us in 2014. An extension fee is an additional cost that may be charged in order to keep a rate locked when the rate lock is expiring.
New Conforming Price Adjustments for Mortgage Rates
December 19, 2013 by 3 Comments
UPDATE: DECEMBER 23, 2013: Incoming Director of the FHFA, Mel Watts has announced that he will delay the increase to conforming price adjustments (aka LLPA or guarantee fees).
This week Fannie Mae revealed conforming price adjustments (LLPA) which will increase the cost for mortgage rates in 2014. This complied with the Fed beginning to pull back on their bond buying program will certainly cause mortgage rates to trend higher.
What May Impact Mortgage Rates this Week: December 16, 2014
December 16, 2013 by Leave a Comment
This week, it’s safe to say that all eyes and ears will be on the Fed as they wrap up their meeting this Wednesday. If they indicate they will pull back on their support of keeping mortgage rates low, then expect to see rates trend higher. We’ll know more on Wednesday! With many traders on vacation during the holiday season, we can also anticipate that the markets may be more volatile than they would typically be.
