The average 30 year fixed rate mortgage is now 6.625% for conforming loan amounts (up to 417K) which is at its highest level in over 10 months. These rates have shot up sharply over the last 2 weeks as the 10 yr bond has dropped during this period. This climb is not expected to turn [...]

Popularity: 2% [?]

As the mortgage boom slowed in 2005 many brokers scrambled to fill their pipelines as the rate of new applications fell. Many of these brokers were putting borrowers that could qualify for prime rate products into a subprime category for the higher yield spread premium paid on the back end by the lender as a rebate. [...]

Popularity: 4% [?]

Many mortgage brokers have had the ability to secure lines of credit with major lenders to fund loans faster and increase their profit margin. They commit to a specific volume of business and are responsible for the qualifying criteria of that loan. The broker is responsible for making sure these loans meet the criteria for the [...]

Popularity: 4% [?]

Today the jobs report came in much stronger than expected fueling fears of inflation and sending the bonds lower. This pushed yields higher which of course has affected interest rates for mortgages negatively. They are sharply higher this morning and are expected to increase steadily over the next week. This could easily pour cold water [...]

Popularity: 1% [?]