Like just about everything in the world right now, the mortgage market has gone a bit crazy. It’s hard to predict anything from one day to the next. And, like most economic markets amidst the coronavirus (COVID-19) pandemic, the mortgage industry is dealing with a multitude of challenges. 2008 vs. Continue Reading →
Refinancing has been such a major factor in the mortgage industry this past year. With mortgage rates low and home prices high, it’s the perfect situation for homeowners to refinance their mortgage loans. Most recently, we’ve seen the effects of the coronavirus in the financial markets. It has hurt the Continue Reading →
As is often the case when the stock market takes a dip, mortgage rates were actually affected in a good way. The average 30-year fixed mortgage rate went down slightly as the market has reacted to the coronavirus outbreak. Of course, what’s happening with this deadly virus is terrifying as Continue Reading →
If you remember your history lessons, you may remember hearing about the Black Death plague that devastated Europe in the 14th century. We know about how much it affected the world’s population, but most people never thought about this period in history in terms of mortgage rates—at least not until now. Continue Reading →
The Federal Reserve has had a dramatic year. The U.S. Central Bank announced Wednesday that it will not be changing interest rates again this year, and it looks like they might hold steady in 2020, as well. Fed Rate Changes in 2019 The federal funds rate was raised nine times Continue Reading →
