Mortgage Rate Update for the week of June 3, 2024

It’s Jobs Week! Check out what’s going on with rates with my latest video.

2024 Mortgage Rate and Real Estate Forecast

Spoiler alert! I (along with many others) predict that mortgage rates will be below 6% by the end of this year and that we’re going to see a very competitive housing market due to the lack of inventory. I don’t believe we will see home prices come down or a “correction” with home prices. It is so important to make sure that you are fully approved and have your offer structured correctly when you’re ready to buy a home.

Please check out my video for more information and reach out to me if you would like to create a strategy for purchasing your next home!

Mortgage Rate Update for December 11, 2023

Here are some of the economic indicators that may impact mortgage rates this week!

I’ve moved!

After 23 years of helping people with their mortgage needs at Mortgage Master Service Corporation, I have made a move to New American Funding. You can still reach me at my same phone number and email. And you can still click the “Get Approved” link above to start a loan application with me. I am still here to help you (and anyone you care about) with your home loans. [Read more…]

Been turned down by a big bank for a mortgage? You’re not alone!

A recent report from the Federal Financial Institutions Examination Council revealed that big banks have a very high cancellation rate for home loan applicants.

In 2012, according to this data, Chase declined almost a third of their mortgage applicants with Bank of America denying 25.6% and Wells Fargo rejecting 21% of their mortgage applicants. Quicken Loans and U.S. Bank turned down 17% of their mortgage applicants.
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What may impact mortgage rates this week: August 26, 2013

Mortgage rates are not just influenced by scheduled economic indicators. Sometimes uncertainty in the world, such as what’s going on in Syria, will cause a flight to safety with investors seeking bonds, like mortgage backed securities. This is causing mortgage rates, which are based on mortgage backed securities, to be improved this morning.

Here are a few of the economic indicators scheduled to be released this week:

[Read more…]