Interest Rate News
2012 Is Here
January 6, 2012 by Jeff Thomas · Leave a Comment
Forecasting What May Be Ahead for Home Loan Rates Fairfax, VA – The good news–despite what the Mayan calendar may say–is that the world probably won’t be coming to an end in 2012. But like 2011, this coming year may bring some significant challenges here in the US and around the world. Read on to [...]
FHA Loan Limits
November 21, 2011 by Jeff Thomas · Leave a Comment
Effective Friday, November 18, FHA has raised loan limits to $729,750. Fairfax, VA – You can check individual counties for limits using this link: FHA Loan Limits Fannie & Freddie’s loan limits remain at $625,500! FHA requires 3.5% down with a higher loan limit. Conventional loans, 5% down with a lower loan limit. Does this [...]
The Scoop on Inflation And Its Impact on Home Loan Rates
November 4, 2011 by Jeff Thomas · Leave a Comment
Fairfax, VA CPI, PPI, PCE…sounds like a nice bowl of alphabet soup. But did you know that what lies behind these letters impacts not only YOU every single day…it also bears a very heavy influence on the direction of home loan rates? So pull up a chair, grab a spoon, and let’s dig in to [...]
What happens to my loan if the government shuts down?
July 19, 2011 by Jeff Thomas · Leave a Comment
Fairfax, VA – When was the last government shutdown? 1995 was the year. What happened? It was very painful to get through, but no one panicked. And we shouldn’t panic this time. I can assure you 1st Commonwealth Bank of Virginia has prepared all of the loans in our pipeline and we preparing for a [...]
When the property is an FHA “flip”
July 19, 2011 by Jeff Thomas · Leave a Comment
Fairfax, VA – When the property in question is an FHA flip. Seller has been on title for less than 90 days. If the sales price is 20% or more above seller’s acquisition cost and the increase in value is due to improvements/renovation to the property: 1. The appraiser is required to verify the repairs [...]
I’ve Got 4 Key Questions about Your Home Loan Situation
June 13, 2011 by Jeff Thomas · Leave a Comment
Fairfax, VA – The start of summer is nearly here, which means things like baseball, hotdogs, and apple pie are on our minds. But that’s not all the arrival of summer means: 2011 is almost halfway over. That makes now the perfect time of year to make sure your home loan is working for you. [...]
It’s a Small World After All
March 7, 2011 by Jeff Thomas · Leave a Comment
Globalization’s Impact on Home Loan Rates Fairfax, VA – Today we live in a global economy, an interconnected world where goods and capital move freely at lightning speed across countries. The widely accepted view is that globalization not only benefits all countries across the world but lends itself towards the betterment of the economy as [...]
What’s Happening With Rates?
February 11, 2011 by Jeff Thomas · Leave a Comment
Fairfax, Virginia: Mortgage Rates Return To April 2010 Levels Mortgage rates are surging. Over the last week or two, interest rates on 30-year fixed mortgages have increased roughly a .25 percent. This is according to Freddie Mac’s weekly Primary Mortgage Market Survey. It is the largest one week jump in recent history. The national rate for [...]
What Should You Expect in 2011, Part 2
February 5, 2011 by Jeff Thomas · Leave a Comment
Fairfax, VA – Forecasts for Inflation, the Housing Market, and Home Loan Rates What’s ahead for inflation, the housing market, and home loan rates this year? Read on to find out. Inflation One of the major topics that we need to watch in the coming months is inflation. The Fed and the markets keep a [...]
Interest Rate Update – January 28, 2011
January 28, 2011 by Jeff Thomas · Leave a Comment
Interest Rate Update – January 28, 2011 Closing within 5-7 days: LOCK. Closing within 7-15 days: FLOAT, BUT LOCK LOANS THAT ARE CRITICAL; STILL BEARISH OUTLOOK. Closing within 15-30 days: FLOAT WITH CAUTION. Closing within 30+ days: FLOAT WITH CAUTION. (I realize the advice is redundant, but rates are static so advice doesn’t change) Fairfax, [...]
What’s Ahead For Mortgage Rates This Week : January 24, 2011
January 24, 2011 by Jeff Thomas · Leave a Comment
What’s Ahead For Mortgage Rates This Week : January 24, 2011 Fairfax, Virginia: Mortgage markets worsened last week in a holiday-shortened trading week. As the body of U.S. economic data continues to show slow, steady improvement, Wall Street is becoming a net-seller of mortgage-backed bonds. As a result, conforming mortgages rates in Virginia are rising. This [...]
Interest Rate Update – January 5, 2011
January 5, 2011 by Jeff Thomas · Leave a Comment
5-7 days: LOCK. 7-15 days: FLOAT, BUT BE CAUTIOUS; WE WILL HOLD TO OUR FLOAT UNTIL FRIDAY’S EMPLOYMENT REPORT BUT IT ISN’T LOOKING GOOD; CRITICAL DEALS SHOULD BE LOCKED NOW. 15-30 days: FLOAT. 30+ days: FLOAT WITH CAUTION. This morning’s ADP December jobs report really hit the bond market hard, 100,000 jobs expected but 297,000 [...]
Interest Rate Update – January 4, 2011
January 4, 2011 by Jeff Thomas · Leave a Comment
ECONOMIC OUTLOOK. 5-7 days: LOCK. 7-15 days: FLOAT, BUT BE CAUTIOUS; NOT LIKELY RATES WILL DECLINE MUCH WITH BULLISH 15-30 days: FLOAT. 30+ days: FLOAT WITH CAUTION. Treasuries opened flat this morning, mortgages bonds are up 4/32 (.12 BP – basis points) at 9:00. Mortgage bonds are still trading in a 25 basis point yield range. [...]
Interest Rate Update – January 3, 2011
January 3, 2011 by Jeff Thomas · Leave a Comment
If closing is in: 5-7 days: LOCK 7-15 days: FLOAT, BUT BE CAUTIOUS; NOT LIKELY RATES WILL DECLINE MUCH WITH BULLISH ECONOMIC OUTLOOK 15-30 days: FLOAT 30+ days: FLOAT WITH CAUTION <><><><><><><><><><><><><> Last Friday in thin trading the bond and mortgage markets had a nice end of the year with good price gains (lower interest [...]
Interest Rate Info – December 30 2010
December 30, 2010 by Jeff Thomas · Leave a Comment
Movements in the economy, good or bad, up or down, move interest rates up and down through out each trading day. Jobless claims is one of the reports that moves interest rates up or down. Today’s jobless claims number came in significantly lower than expected. Jobless claims came in at 388,000 lower than the expected [...]
