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Remember the summer of 2013? Fans of low rates would rather forget it. Specifically, the 2nd to last week in June 2013 marked one of the most abrupt mortgage rate jumps on record. You'd have to go back to 1987 to see anything bigger. The first week of July 2013 was...
Mortgage rates are on a tear. As of this week, 2019 is now the best year in more than a decade in terms of the peak-to-trough move. But there's a catch: 2019 isn't over yet, and there's always a risk that rates move higher between now and the end of the year. So,...
It's easy enough for media outlets to accurately report the underlying facts when it comes to mortgage rates and housing. It seems far harder to find consensus when it comes to interpreting those facts. Let's clear up some of the misconceptions driving this...
Various speeches from members of the Federal Reserve contributed to upward pressure on rates throughout the week. But then on Friday, all that pressure was erased in an instant or two. What has that kind of power? If you were forced to guess Friday's big market...
This week, the Mortgage Bankers Association (MBA) released application numbers that confirm what almost anyone in the mortgage industry could have already told you (if they could find the time and energy!) A new refi boom is underway. The refi numbers are all the...
Market volatility has been fairly intense over the past week and a half with trade war drama taking the spotlight away from the Fed and economic data. The following chart shows the Fed announcement last Wednesday being trumped by Trump's tariff tweets on Thursday and...
On the morning after this week's Fed rate cut, mortgage rates were roughly unchanged versus the previous morning. This will come as a surprise to scores of consumers who mistakenly believe the Fed's 0.25% rate cut equates to a 0.25% drop in ALL rates. The...
Negative housing-related headlines are on the rise. Here are a few recent examples: Foreign purchases of American homes plunge 36% as Chinese buyers flee the market Another bad sign for the housing market Housing is providing another in a line of troubling signs...
This week's most prevalent housing market headlines were quick to mention the abrupt drop in Building Permits to the lowest levels in 2 years. Other headlines pointed out that it was the quickest move lower in more than 2 years. Both statements are true. So is it...
GoPrime Mortgage, Inc. is a mortgage lender. NMLS ID # 69551. Arizona Mortgage Banker License No. 0942646. Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act. For licensing information, go to: www.nmlsconsumeraccess.org. Not licensed in all states.
