As we all expected the Feds raised the interest rates 1/4 % up to 3/4%.
This isn't a bad thing. We all know that we as a country cannot keep going with a fed Interest Rate lower than 1.0%. I don't suspect we will go much higher than that. As we are in the middle of December we actually on the Mortgage side seen interest rates dip a little today because the lenders already anticipated a higher raise in the fed rate. With only a quarter raise we were able to see some interest rate improvements.
This will affect growth with Real Estate values. I think we will see a little slow growth for the 1st quarter of 2017. As a Branch Manager / Mortgage Banker I have instructed my team that we re-evaluate all Pre-Approvals that have been given out over 30 days ago. We want to make sure we are still fine with our Debt to Income Ratios.
I see with even Interest Rates on the rise we are still seeing a lot of buyers trying to get Pre Approed for home loans. We are seeing a rise in different mortgage products to help buyers get into homes. This will help with values even though we are seeing a rise in Interest Rates.
To be qualified for a home loan please go to my link Robert Krowel
Thank you
Robert Krowel
Wednesday, December 14, 2016
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
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