Ishakis Finance Report Mortgage Broker Brooklyn
Loan Officer Yael Ishakis’s take on mortgage and finance news.
Inflation fears are harming home buyers. The Cost of Living has reached a record level, surpassing the former peak set in July 2008. Mortgage rates would be rising more right now if not for the Middle East unrest.
As of this morning, mortgage rates are higher over 9 consecutive days, marking the longest mortgage rate losing streak in the last 6 years, at least.
Mortgage rates are rising. Homeowners have lost 10% of their purchasing power since November.
Starting April 1, 2011, loan-level pricing adjustments are increasing. Most conforming mortgage applicants will face higher loan costs.
Mortgage rates are moving quicker than the news can accurately report them. This week’s Freddie Mac mortgage rate survey is an excellent example.
With the sudden rise in mortgage rates, we have to question whether the Refi Boom is ending.
The rate-and-fee combination you’d get in your home state is different from the rate-and-fee combination you’d get if you lived somewhere else. In the West, rates are low and fees are high; in the Southeast, it’s the opposite.
Want a lower mortgage rate on your upcoming home buy? Think about moving up the closing date.
Mortgage rates would have been volatile this week. The presence of Labor Day just piles on. If you have a chance to lock something favorable and within your budget, consider doing it.
Mortgage rates are (again) at their lowest levels in history.