Mortgage interest rates have been VERY volatile with all the movement in the stock market. Typically, when the stock market is plummeting, we see mortgage rates improve. This is because mortgage rates are based on bonds and investors will seek the safety of bonds. In the markets we recently have been experiencing, the lower mortgage rates may be available for moments before moving higher.
If you’re considering refinancing to obtain a lower interest rate, you need to be prepared to take action. [Read more…]
25 years ago, I left my career in the title and escrow career to become a mortgage loan officer. I announced it on April fools day to the real estate agents that I was no longer going to be their title rep and that I was making the move to the mortgage side. Many were shocked as I had been in the title industry for 14 years and was pretty established. It was a big move! 
FHA issued an update to their guidelines (ML 2025-09) revising residency requirements for FHA mortgages. The new guidelines only allows U.S. citizens and lawful permanent residents and removes non-permanent residents from being eligible.
I am taking a quick vacation to visit my son and family in Japan. I will be back to work as fresh as a cherry blossom on April 8, 2025. (Update: I’m back from vacation!)
As expected, the Fed has decided to leave the Fed funds rate unchanged, leaving the targeted range between 4.25% and 4.5%. This rate does not directly affect mortgage interest rates, but rather influences the direction of mortgage interest rates (unless you have a home equity line of credit that is based on the prime rate).
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