In order to determine where mortgage rates will go on a day-to-day basis, we look at the yield on the 10-year Treasury Note. This is a leading indicator for mortgage rates. If the yield on the 10-year Note goes down, then mortgage rates typically follow. On the other hand, if the yield goes up, then...
Tag: California
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DEBT-TO-INCOME RATIO
Debt-to-Income ratio (known as DTI) is the backbone to qualification for a home loan. Lenders look to this ratio to determine how much of a mortgage payment along with other debts is permissible to qualify you for a loan. Depending on the loan, a general rule is that lenders will approve a DTI up to...
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THE CRE MARKET WILL HEAT UP IN H2-24 . . . GET READY
Today’s post is written by Michael Green, Senior Commercial Loan Originator with Counsel Mortgage Group, LLC. Mike writes monthly on the commercial mortgage market. Check back each month for his commentary. As CRE data reflecting the post-COVID damage emerged last summer (or so), we began to notify you that investors were penciling out shark-in-the-water deals....
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MAY 2024 INTEREST RATES AND VALUES UPDATE
The data this month is similar to prior months. The 30-year fixed mortgage rate is hovering around 7% while property values continue to increase. The Fed has been steadfast in their policy that they will wait for inflation to get to 2% before reducing the Fed Funds rate. The April CPI index came in at...
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LOOKING FOR A MORTGAGE? START WITH COUNSEL MORTGAGE
The first step to looking for a mortgage is to consult with a mortgage broker. Mortgage brokers have access to many lenders and programs and can shop your scenario to see what is the best fit for you. Counsel Mortgage Group, LLC is a mortgage brokerage in our 17th year of business. My personal background...
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NAR SETTLEMENT AND LENDING
It’s business as usual in lending in light of the National Association of Realtors’ settlement in the Burnett et al and Moehrl et al cases. None of the lending guidelines changed. Fannie Mae, Freddie Mac, and FHA maintain that buyer agent fees are not interested party contributions (IPC) and are excluded from financing concession limits....
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RETAIL SEGMENT OF CRE CONTINUES TO IMPROVE
Today’s post is written by Michael Green, Senior Commercial Loan Originator with Counsel Mortgage Group, LLC. Mike writes monthly on the commercial mortgage market. Check back each month to check his commentary. Trepp (CRE research & analytics) released their CMBS Delinquency rate for March, showing it dipped slightly for the month, led by a significant...
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ATTENTION REALTORS: FREE LUNCH AND CE
Join us next Tuesday, May 7th, at 11:30 am at Old Republic Title for a free lunch and 1 hour of CE. I will be presenting a class on real estate finance where we’ll go over the different types of loans and ways to get your clients approved, while sharing my experience and tricks of...
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A VISIT TO THE CAPITOL
As the Chair of the Government Affairs Committee for the Arizona Association of Mortgage Professionals, I traveled to Washington DC to meet with legislators and administrators regarding the issues of the day affecting mortgages and real estate. This year, there were many topics discussed, including: * Trigger leads – ending the practice of solicitors calling...
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LOAN APPROVAL – SALEABILITY
When a lender issues you a loan approval, what does it mean? It means the loan meets program guidelines for saleability. A lender will grant you a loan approval when they know they can sell the loan and make money on it. The game is about the lender making money on the loan. When the...