Wednesday, November 30, 2016
Robert Krowel & Freddie Mac
This is Freedie Mac's opinion based on the Current Market Conditions.
Interest rates are, quite naturally, the focus of Freddie Mac's November Outlook. The company's Economic & Housing Research Group looked at the potential impact of the interest rate surge since the election and what it called "the near certainty" that the Federal Reserve's Open Market Committee (FOMC) will raise the fed funds rate at its December meeting.
Over two weeks post-election the 10 -year Treasury note surged by over 50 basis points, closing at 2.35 percent on November 18. The increase was driven by higher than expected inflation and anticipation of the FOMC move -the probability of which the futures market was putting at 92 percent.
This is a Published artical on the Mortgage News Daily Website.
Its never to late to get a new home or refinance. It takes 2 minutes if there is a benefit. apply here on my link. Robert Krowel
Robert Krowel
951.756.3748
Interest rates are, quite naturally, the focus of Freddie Mac's November Outlook. The company's Economic & Housing Research Group looked at the potential impact of the interest rate surge since the election and what it called "the near certainty" that the Federal Reserve's Open Market Committee (FOMC) will raise the fed funds rate at its December meeting.
Over two weeks post-election the 10 -year Treasury note surged by over 50 basis points, closing at 2.35 percent on November 18. The increase was driven by higher than expected inflation and anticipation of the FOMC move -the probability of which the futures market was putting at 92 percent.
This is a Published artical on the Mortgage News Daily Website.
Its never to late to get a new home or refinance. It takes 2 minutes if there is a benefit. apply here on my link. Robert Krowel
Robert Krowel
951.756.3748
Friday, November 25, 2016
Robert Krowel & Mortgage Interest Rates
Mortgage rates were unchanged-to-slightly-higher today, depending on the lender. Most lenders put out rate sheets in fairly conservative territory on Wednesday for the express purpose of not needing to mess with them too much today. With the Friday after Thanksgiving being an early close for bond markets, lenders tend to check in once in the morning to set rates high enough that they won't be forced to issue "reprices" (mid-day rate sheet changes) on that off chance of market volatility.
That was the case today, as a mid-morning swoon in bond prices--that normally would have seen a few lenders raise rates--instead passed without leaving a trace. Unfortunately, the absence of movement means rates continue to operate at the highest levels since June 2015. And in some cases, rates are as high as they've been in more than 2 years. The most prevalently-quoted conventional 30yr fixed rate remain 4.125-4.25% on top tier scenarios.
Please feel free to call Robert Krowel at 951.756.3748
That was the case today, as a mid-morning swoon in bond prices--that normally would have seen a few lenders raise rates--instead passed without leaving a trace. Unfortunately, the absence of movement means rates continue to operate at the highest levels since June 2015. And in some cases, rates are as high as they've been in more than 2 years. The most prevalently-quoted conventional 30yr fixed rate remain 4.125-4.25% on top tier scenarios.
Please feel free to call Robert Krowel at 951.756.3748
Wednesday, November 23, 2016
Mortgage News: Robert Krowel & Mortgage News
Mortgage News: Robert Krowel & Mortgage News: Robert Krowel & Mortgage News I wanted to give an update on some new changes that are happening in the Mortgage industry. This is for ...
Robert Krowel & Mortgage News
Robert Krowel & Mortgage News
I wanted to give an update on some new changes that are happening in the Mortgage industry. This is for Fannie Mae and Freddie Mac. As we are getting past the melt down of the Real Estate Industry we are seeing a vast variety of changes to the way we are to Caculate income, how we look at assets, collections, student loans and even self employed borrowers.
Debt To Income - The standard for Fannie Mae Ratios are 38 over 43. Now with saying that with compensating factors we can go up to a 49.9. 1 big one factor is 12 months reserves. This is a huge change to when DU was very strict and we couldn't go past 45 %.
Free die Mac - We are sometimes able to go as high as a 53 % with 6 months reserves and 1 year tax returns.
Assets and Collections - assets are anything in a bank account or retirement account. Depending on the 401 K we can use up to 65% of the balance.
Collections - Medical are not counted when doing a mortgage loan. Depending on the situation it sometimes work in your favor. Other collections depends on what they are. the rule of thumb is if the combined total are more than 2,000 dollars then we need to have them paid off or have a payment arrangement. Best to have them paid off before we have you pre approved so we have no issues.
Self Employed - This has loosened up a little bit over the past few years. It really depends if you are Sch. C or Corporate tax returns. You will want a Mortgage Banker that knows how to read tax returns and know how to structure a loan.
Student Loans - This has gotten worse. We have to use the worst of the payments or % of the balance. This can be a little bit of a pain.
I would suggest if you are a realtor or a Person trying to buy a home. You need to align yourself with a Mortgage Banker that is well versed in this and has the ability to get the loans done in a timely manner. Please feel free to call me at 951.756.3748 or Apply on the Link. Robert Krowel
Thank you,
Robert Krowel
I wanted to give an update on some new changes that are happening in the Mortgage industry. This is for Fannie Mae and Freddie Mac. As we are getting past the melt down of the Real Estate Industry we are seeing a vast variety of changes to the way we are to Caculate income, how we look at assets, collections, student loans and even self employed borrowers.
Debt To Income - The standard for Fannie Mae Ratios are 38 over 43. Now with saying that with compensating factors we can go up to a 49.9. 1 big one factor is 12 months reserves. This is a huge change to when DU was very strict and we couldn't go past 45 %.
Free die Mac - We are sometimes able to go as high as a 53 % with 6 months reserves and 1 year tax returns.
Assets and Collections - assets are anything in a bank account or retirement account. Depending on the 401 K we can use up to 65% of the balance.
Collections - Medical are not counted when doing a mortgage loan. Depending on the situation it sometimes work in your favor. Other collections depends on what they are. the rule of thumb is if the combined total are more than 2,000 dollars then we need to have them paid off or have a payment arrangement. Best to have them paid off before we have you pre approved so we have no issues.
Self Employed - This has loosened up a little bit over the past few years. It really depends if you are Sch. C or Corporate tax returns. You will want a Mortgage Banker that knows how to read tax returns and know how to structure a loan.
Student Loans - This has gotten worse. We have to use the worst of the payments or % of the balance. This can be a little bit of a pain.
I would suggest if you are a realtor or a Person trying to buy a home. You need to align yourself with a Mortgage Banker that is well versed in this and has the ability to get the loans done in a timely manner. Please feel free to call me at 951.756.3748 or Apply on the Link. Robert Krowel
Thank you,
Robert Krowel
Tuesday, November 22, 2016
Robert Krowel & Mortgage Rates
Mortgage rates stayed mostly steady today, on average. For the record, that means some lenders were in slightly better shape versus yesterday's latest levels while others were in worse shape. This is always the case on days where rates remain unchanged on average, but the discrepancies can be larger than normal at the moment due to recent volatility.
With it being a shortened holiday week (bond markets closed on Thursday and only nominally open on Friday), tomorrow is essentially the last day with meaningful market participation. While it seems that rate volatility has died down significantly for now, the more recent an episode of major volatility, the more susceptible rates can be to aftershocks. It could easily be the case that we see no such aftershock, but it's still a bit soon to trust the recent rate ceiling and hope for improvements.
Our best chance to get better Interest Rates are Monday the 28th of November.
Find out how to get a Mortgage with no Down Payment! Apply here. Robert Krowel
With it being a shortened holiday week (bond markets closed on Thursday and only nominally open on Friday), tomorrow is essentially the last day with meaningful market participation. While it seems that rate volatility has died down significantly for now, the more recent an episode of major volatility, the more susceptible rates can be to aftershocks. It could easily be the case that we see no such aftershock, but it's still a bit soon to trust the recent rate ceiling and hope for improvements.
Our best chance to get better Interest Rates are Monday the 28th of November.
Find out how to get a Mortgage with no Down Payment! Apply here. Robert Krowel
Robert Krowel & All Cash Sales Down
Robert Krowel & All Cash Sales Down
As we are seeing new highs in the stock market with the Dow reaching 19,000 for the first time. We are also seeing a decline in all cash sales in Real Estate. This is good news that are economy is actually bouncing back. It means our foreclosures and short sales are at its lowest point for the last 8 years.
I am getting asked about what my thoughts are on the market. My take on the market is that we are going to see higher interest rates and with that we will see values soften up a little bit. This is a good time for the realtors and Mortgage Bankers that have the knowledge and back ground to be able to get through this. Loan Applications are down nation wide but this is normal for this time off the year. If we are to look back at 08, and 2012 you will see that we had bigger drops in those 2 election years then now.
It's time to adjust your business model and prepare for the Questions and concerns we will be faced with from Sellers and buyers. It is a buyers market right now. Interest Rates are still low and the products available for people to become homeowners are plentiful. Buyers have no reason to wait. It is our job to point them in the right direction and to be qualified for the right product. Read the Blog below.
All-cash sales represented 31.1 of the total home sales recorded in August, according to a CoreLogic report on cash and distressed home sales. This was a decline of 1.5 percentage points from cash sales in August 2015. The company said that, if cash sales continue to decrease at the August rate, they should hit the pre-crisis rate of 25 percent by mid-2019.
Cash sales werehighest in Alabamawith a 44.9 percent share. Other states with elevated cash sales include New York (42 percent), Florida (40.9 percent), Indiana (38.6 percent) and Kansas (38 percent).
Cash transactions peaked in January 2011 at 46.6 percentof all home sales, and at approximately the same time sales of lender-owned real estate typically made up around 27 percent of the home sales market. While cash still accounts for a large share of REO sales, 58.8 percent, those sales now have only a 4.6 percent share and have very little impact on overall cash statistics.
Any questions please call me 951.756.3748 or apply on the link below and someone will contact you shortly. Robert Krowel
Thank you,
Robert Krowel
As we are seeing new highs in the stock market with the Dow reaching 19,000 for the first time. We are also seeing a decline in all cash sales in Real Estate. This is good news that are economy is actually bouncing back. It means our foreclosures and short sales are at its lowest point for the last 8 years.
I am getting asked about what my thoughts are on the market. My take on the market is that we are going to see higher interest rates and with that we will see values soften up a little bit. This is a good time for the realtors and Mortgage Bankers that have the knowledge and back ground to be able to get through this. Loan Applications are down nation wide but this is normal for this time off the year. If we are to look back at 08, and 2012 you will see that we had bigger drops in those 2 election years then now.
It's time to adjust your business model and prepare for the Questions and concerns we will be faced with from Sellers and buyers. It is a buyers market right now. Interest Rates are still low and the products available for people to become homeowners are plentiful. Buyers have no reason to wait. It is our job to point them in the right direction and to be qualified for the right product. Read the Blog below.
All-cash sales represented 31.1 of the total home sales recorded in August, according to a CoreLogic report on cash and distressed home sales. This was a decline of 1.5 percentage points from cash sales in August 2015. The company said that, if cash sales continue to decrease at the August rate, they should hit the pre-crisis rate of 25 percent by mid-2019.
Cash sales werehighest in Alabamawith a 44.9 percent share. Other states with elevated cash sales include New York (42 percent), Florida (40.9 percent), Indiana (38.6 percent) and Kansas (38 percent).
Cash transactions peaked in January 2011 at 46.6 percentof all home sales, and at approximately the same time sales of lender-owned real estate typically made up around 27 percent of the home sales market. While cash still accounts for a large share of REO sales, 58.8 percent, those sales now have only a 4.6 percent share and have very little impact on overall cash statistics.
Any questions please call me 951.756.3748 or apply on the link below and someone will contact you shortly. Robert Krowel
Thank you,
Robert Krowel
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