Mortgage Market Update/Purchase and Refinance Mortgage info

[Tamalewagon]

Happy Thursday campers...

The latest data from the QCEW (quarterly census of employment) was released and as usual, showed significant overstatement and exaggeration of the job growth. The revisions released show just how political these bogus reports have become. Hopefully this has a positive effect on mortgage rates today as we are off to a decent start in the MBS market with some decent gains.

See the details in Thursday's Rate Lock Advisory...click HERE

Give me a call today for a quote on your specific scenario for the lowest rates available. We tailor your loan for your specific needs...Check out our wholesale direct to consumer interest rates HERE

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

RPD referral for our services, check this thread -

The Mortgage Market Update Guy

The thread title is exactly what I said to myself about a month ago when I was trying to figure out who to go to for a refi on our house, "hey what about the mortgage update guy from RDP?" Fast forward to now, we're a few weeks closed, Scott put in a ton of leg work and made a game time call...

www.riverdavesplace.com

 

[Tamalewagon]

Happy Friday campers!

The MBS market is in positive territory this morning. Hopefully we will regain some of the ground we have lost in the past several days.

See the details in Friday's Rate Lock Advisory...click HERE

Looking for debt consolidation, home improvement, investment or purchase mortgage options in California? Check out our wholesale direct to consumer interest rates HERE

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[Tamalewagon]

Good Morning Campers!

The market is looking very good this morning and the MBS market opened WELL into positive territory. This is a very good day to lock rates!

See the details in Monday's Rate Lock Advisory...click HERE

Call us today for any loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[Tamalewagon]

The MBS market opened a little in the negative this morning due to President elect Trumps comments on proposed tariffs on China, Mexico and Canana last night. Seems the bond market does not like that, but pricing is still seeing the positive effects from yesterdays gains.

If you purchased or refinanced within the past 36 months and have a rate of 6.875% or higher, you should be looking at a refinance right now.

See the details in Tuesday's Rate Lock Advisory...click HERE

Call us today for any loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[Tamalewagon]

Our 2025 new loan limits are now in play for VA, FHA and conforming. The new loan limits are now $806,500 (up from $766550 in 2024) for conforming, VA and FHA loan amounts. High balance conventional loans are now at $1,209,750 for high cost counties. Jumbo VA and regular jumbo loans have very attractive pricing right now.

 

[Tamalewagon]

Happy Hump Day campers!

Today's pricing will be even better than yesterday! The MBS market opened in positive territory yet again due to late strength in the market yesterday. Give us a call to price out your purchase or refinance in California.

If you purchased or refinanced within the past 36 months and have a rate of 6.875% or higher, you should be looking at a refinance right now!

See the market details in Wednesday's Rate Lock Advisory...click HERE

Call us today for any purchase or refinance loan scenario to see how much we can save you at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[beerrun]

Happy Hump Day campers!

Today's pricing will be even better than yesterday! The MBS market opened in positive territory yet again due to late strength in the market yesterday. Give us a call to price out your purchase or refinance in California.

If you purchased or refinanced within the past 36 months and have a rate of 6.875% or higher, you should be looking at a refinance right now!

See the market details in Wednesday's Rate Lock Advisory...click HERE

Call us today for any purchase or refinance loan scenario to see how much we can save you at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

Hey Scott where do you guesstimate the rates will be in 6mos

 

[Kachina26]

Happy Hump Day campers!

Today's pricing will be even better than yesterday! The MBS market opened in positive territory yet again due to late strength in the market yesterday. Give us a call to price out your purchase or refinance in California.

If you purchased or refinanced within the past 36 months and have a rate of 6.875% or higher, you should be looking at a refinance right now!

See the market details in Wednesday's Rate Lock Advisory...click HERE

Call us today for any purchase or refinance loan scenario to see how much we can save you at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

I'm at 6.625%, so should I hold?

 

[Tamalewagon]

I'm at 6.625%, so should I hold

See PM

 

[Tamalewagon]

Hey Scott where do you guesstimate the rates will be in 6mos

Too hard to guess at this time Chris. Too many factors (tariffs, future oil prices, stock market, bond market, inflation etc...) PM me for what you have in mind...

 

[Tamalewagon]

Happy Thanksgiving campers...

 

[Tamalewagon]

Happy Monday RDPland. Hope everyone had a fantastic Thanksgiving holiday.

The MBS market opened in negative territory this morning but has done an abrupt about face which should be good news for rates today. Again, if you have a rate above 6.75% and a loan amount of $400K or more, you should be looking at refinancing now.

See the details in Monday's Rate Lock Advisory...click HERE

Call us today for any loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[Tamalewagon]

Happy Tuesday!

Tuesdays pricing was slightly better than the big improvements we saw yesterday so good day to lock rates.

See the details in Tuesday's Rate Lock Advisory...click HERE

Call us today for any loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[Tamalewagon]

Happy Hump Day campers!

The MBS market opened slightly in negative territory despite the better economic news. The employment report was favorable for mortgage rates so hopefully we see a reversal soon. Rates are relatively unchanged from yesterday.

If you purchased or refinanced within the past 36 months and have a rate of 6.875% or higher, you should be looking at a refinance right now!

See the market details in Wednesday's Rate Lock Advisory...click HERE

Call us today for any purchase or refinance loan scenario to see how much we can save you at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[Tamalewagon]

Well how about that...rates are already improving.

 

[Tamalewagon]

Happy Thursday campers...

MBS market opened a little in negative territory but has climbed into the positive since. We should see a slight improvement over yesterday's rates. Another good day to lock your rate.

See the details in Thursday's Rate Lock Advisory...click HERE

Give me a call today for a quote on your specific scenario for the lowest rates available. We tailor your loan for your specific needs...Check out our wholesale direct to consumer interest rates HERE

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

RPD referral for our services, check this thread -

The Mortgage Market Update Guy

The thread title is exactly what I said to myself about a month ago when I was trying to figure out who to go to for a refi on our house, "hey what about the mortgage update guy from RDP?" Fast forward to now, we're a few weeks closed, Scott put in a ton of leg work and made a game time call...

www.riverdavesplace.com

 

[Tamalewagon]

Happy Friday campers!

Rates are looking great this morning regardless of the phony "strong" jobs report. There is weakness in the Household Survey report that counters the inaccurate business BLS employment report showing 355,000 full and part time job losses.

See the details in Friday's Rate Lock Advisory...click HERE

If you have a 6.625% or higher mortgage rate, please call us today to see how we can lower your rate/payment. If you are looking for debt consolidation, home improvement, investment or purchase mortgage options in California, check out our wholesale direct to consumer interest rates HERE for your specific mortgage scenario.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[Tamalewagon]

Some interesting news for current homeowners...The latest information from the "top 150 economists in the US was just released, showing the following appreciation forecasts, with the impact on a $500K home in parenthesis:

2025

• Average: 3.78% ($18900)

Next 5 years:

• Average: 27.16% ($135800)

Housing should continue to be a great investment according to MBS Highway.

We may see some unfavorable inflation information later this week. Locking now is not a bad idea as rates are favorable right now.

See the details in Monday's Rate Lock Advisory...click HERE

Call us today for any loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[Tamalewagon]

Happy Taco Tuesday campers!

The MBS market opened in negative territory this morning but has since reversed course and rates have improved.

If you purchased or refinanced within the past 36 months and have a rate of 6.75% or higher, you should be looking at a refinance right now!

See the market details in Tuesday's Rate Lock Advisory...click HERE

Call us today for any purchase or refinance loan scenario to see how much we can save you at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[Tamalewagon]

Happy Hump Day campers!

The MBS market opened slightly in negative territory while the bond market is slightly up. Rates are relatively unchanged from yesterdays good pricing.

If you purchased or refinanced within the past 36 months and have a rate of 6.875% or higher, you should be looking at a refinance right now!

See the market details in Wednesday's Rate Lock Advisory...click HERE

Call us today for any purchase or refinance loan scenario to see how much we can save you at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[Tamalewagon]

Happy Thursday campers...

The MBS market opened slightly in the negative territory this morning. We could see some afternoon strength in the bond market once we get the results in from the 30-year bond sale. Look for a good possibility in late afternoon rate improvements should the bond sale go well.

See the details in Thursday's Rate Lock Advisory...click HERE

Give me a call today for a quote on your specific scenario for the lowest rates available. We tailor your loan for your specific needs...Check out our wholesale direct to consumer interest rates HERE

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

RPD referral for our services, check this thread -

The Mortgage Market Update Guy

The thread title is exactly what I said to myself about a month ago when I was trying to figure out who to go to for a refi on our house, "hey what about the mortgage update guy from RDP?" Fast forward to now, we're a few weeks closed, Scott put in a ton of leg work and made a game time call...

www.riverdavesplace.com

 

[Tamalewagon]

Happy Friday campers!

Despite negative economic news from yesterday's bond sale, rates are holding for now. The next FED decision comes next week. Please do not wait as each of the previous FED decisions has led to higher mortgage rates.

See the details in Friday's Rate Lock Advisory...click HERE

If you have a 6.625% or higher mortgage rate, please call us today to see how we can lower your rate/payment. If you are looking for debt consolidation, home improvement, investment or purchase mortgage options in California, check out our wholesale direct to consumer interest rates HERE for your specific mortgage scenario.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[Tamalewagon]

Running a special for the remainder of December and all of January...free appraisal on qualified refinances in California.

 

[Tamalewagon]

Good Morning campers...

This week should prove to be quite interesting. With the very good chance of the FED cutting their rate an additional .25% or more, the bond markets are facing a difficult week. We do have one possible "X factor" according to MBS Hwy that could help which is the FED may need to start reinvesting in more Treasuries in the future which would level the playing field and possibly help to lower mortgage rates in the near future.

Expect some pretty good bond pressure this week.

See the details in Monday's Rate Lock Advisory...click HERE

Call us today for any loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[Tamalewagon]

The MBS market opened slightly in the positive but has since gone slightly negative. Rates are mostly unchanged so far. Lock em while you can...

See the market details in Tuesday's Rate Lock Advisory...click HERE

Call us today for any purchase or refinance loan scenario to see how much we can save you at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[Tamalewagon]

Happy Hump Day campers...

The FED cut their rate .25% as was expected. They also announced that they would only be reducing their rate twice next year as opposed to four times next year stating inflation is higher, jobs reports show more employment (BS) and growth reports are positive. All of this led to a large negative reaction on both the stock and bond markets. Expect higher rates today...

Lock your rates now fellas.

See the market details in Wednesday's Rate Lock Advisory...click HERE

Call us today for any purchase or refinance loan scenario to see how much we can save you at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[Tamalewagon]

Thursday's MBS market is trying to rebound. We saw some pretty serious losses in the MBS market yesterday. The FED rate drop, inflation reports and FED forecast caused some panic in the markets. Inflation is predicted to stay steady throughout next year without much fluctuation.

See the details in Thursday's Rate Lock Advisory...click HERE

Give me a call today for a quote on your specific scenario for the lowest rates available. We tailor your loan for your specific needs...Check out our wholesale direct to consumer interest rates HERE

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

RPD referral for our services, check this thread -

The Mortgage Market Update Guy

The thread title is exactly what I said to myself about a month ago when I was trying to figure out who to go to for a refi on our house, "hey what about the mortgage update guy from RDP?" Fast forward to now, we're a few weeks closed, Scott put in a ton of leg work and made a game time call...

www.riverdavesplace.com

 

[Tamalewagon]

Happy Friday campers!

After a dismal 48 hours for the MBS market, things are beginning to shape up nicely. We have regained half of the losses from Wednesday and Thursdays freefall.

See the details in Friday's Rate Lock Advisory...click HERE

If you have a 6.625% or higher mortgage rate, please call us today to see how we can lower your rate/payment. If you are looking for debt consolidation, home improvement, investment or purchase mortgage options in California, check out our wholesale direct to consumer interest rates HERE for your specific mortgage scenario.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[Tamalewagon]

Happy Monday Campers...

Stocks are fluctuating and MBS market is slightly lower so far. There are a few factors which may help mortgage rates in the very near future. It will be at the expense of American workers sadly. There are several thousands of stores set to close (if not already) that employ tens of thousands of employees. Sadly, once these workers are let go, it will be very hard to find work with all of these companies permanently closing their doors. Irresponsible leadership has led us to this point. Hopefully good old fashioned American fortitude, grit and ingenuity can help this nation heal and put us back to a position of growth and patriotic pride.

Once these employment stats hit the employment reports, we will see an immediate effect on the mortgage rates. Get your purchase or refinance application moving while you have some down time over the holidays.

Call us today for any loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[Tamalewagon]

Happy Christmas Eve campers!

Apologies that the daily blog is currently down. Should be back up and running soon.

The MBS market started off in negative territory but is showing strength now and has made up most of the morning's losses. We should not have much, if any at all, rate fluctuations this morning. We'll see what the afternoon has in store.

Call us today for any California loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

Tip of the day: For those of you purchasing investment or second homes, you will get lower/better rates by taking cash out of your primary residence.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[Tamalewagon]

Merry post Christmas Campers! I hope all of you had a fantastic celebration with your families and friends.

Today's MBS market has opened in negative territory after some lousy economic news. This was solely due to a lower amount of unemployment claims (for now). Once we see the real unemployment figures next month, I believe we will see a very solid "about face".

That said, for those of you looking to purchase or refinance in California, please submit your scenario to me. I guarantee we will beat any bank or credit unions pricing. Submit your scenario HERE

See the details in Thursday's Rate Lock Advisory...click HERE

TIP OF THE DAY: When refinancing to a lower rate, we have the ability to keep your current term. For instance, If you are 3 years into a loan, we can refinance your new loan for 27 years so that you do not have to restart the 30 year fixed over.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

RPD referral for our services, check this thread -

The Mortgage Market Update Guy

The thread title is exactly what I said to myself about a month ago when I was trying to figure out who to go to for a refi on our house, "hey what about the mortgage update guy from RDP?" Fast forward to now, we're a few weeks closed, Scott put in a ton of leg work and made a game time call...

www.riverdavesplace.com

 

[Tamalewagon]

Looks like the markets are improving!

 

[Tamalewagon]

Happy Friday campers!

Rates are relatively flat this morning with nothing of consequence driving the pricing. See the details in Friday's Rate Lock Advisory...click HERE

That said, it is time to get your application in and ready If you have a 6.625% or higher mortgage rate. Click HERE to enter your mortgage scenario to see how we can improve your finances.

TIP OF THE DAY: When comparing lenders, do not just compare the rates. Compare the cost too as one lender may be charging much more than the other lender for the same rate.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[Tamalewagon]

TIP OF THE DAY:
Independent mortgage brokers:

• Do just one loan application and one credit pull
• Shop the top wholesale lenders in the nation
• Specialize in mortgages only
• Offer wholesale interest rates – some of the lowest in the industry
• Get instant funding at the closing table
• Fast closings - usually in an average of 14-20 days

 

[Tamalewagon]

Hi Campers!

Hope you all had an excellent weekend.

The week in review...see the details HERE

 

[Tamalewagon]

Happy Monday campers...

The MBS market has opened WELL in the positive this morning which is great news for mortgage rates. This is most likely due to the "jump to safety" move in bonds as investors flee the stock market from the end of the year sell off's.

See the details in Monday's Rate Lock Advisory...click HERE

Call us today for any loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

TIP OF THE DAY: You will have a lower mortgage payment by "buying down the rate" versus a larger down payment when purchasing a home.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[Tamalewagon]

Buying Opportunity per the MBS Highway:

It’s been a challenging year in the mortgage/real estate industry. Interest rates did decline to 6% or just below, sparking a lot of purchase and refinance activity, which was a good thing to see, but it was too short lived. We do know, however, that when rates do come back down to the low 6’s, it will unlock move-up buyers and we will have a vibrant housing market with a lot of demand.

Since September, rates have shot back up above 7%. Many of your customers and Realtors’ customers may be waiting for rates to come down once again before purchasing.

It’s important to explain that they should have a contrarian mindset and even though it may seem like the worst time to buy, it can actually be to their benefit. Like Sir John Templeton famously said, “The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell.”

When rates are higher, there is less competition. Additionally, during this time of year, we typically see home prices decline a bit, giving you a better deal on the property.

When rates do come back down next year, there will be a lot more demand – The National Association of Realtors estimates that for every 1% drop in rates there are 5 million more eligible buyers…not all of them will buy, but some will, making the tight inventory environment even tighter and pressuring prices higher. We are going to be releasing our 2025 forecast next week, where we break down why we think real estate will be strong next year.

Make sure you are doing a cost of waiting analysis for your customers and everyone one of your Realtor’s listings. The saying “marry the home and date the rate” can be effective, but only if you quantify it…otherwise it’s just a cute saying.

Here is an example on a $700,000 home, with 20% down. Many customers may believe it’s better to wait for rates to come down before purchasing, but they do not contemplate the impact of appreciation and having to borrow more if they wanted to keep the same LTV.

If the customer wanted to buy the home today with the 1% higher rate, there would be a cost. A 1% higher rate on a $700,000 home would be an additional $182 per month or $2184 over the next year. And when the rates come down, there is an approximate cost of $3500 to refinance.

The cost to "date the rate" is as follows:

• Monthly cost: $182
• Yearly cost: $2184
• Refi cost: $3500
• Total cost: $5684

That may seem like a lot...but the benefit of buying a home today is that you will see a 4.1% appreciation on that $700,000 home. That means you would gain $28700 in appreciation over the next 12 months, and even when factoring in the costs of buying today, you would be better off by $23016.

Hope this information helps to educate your decisions.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[Tamalewagon]

Happy New Years Eve campers!

The MBS market opened slightly in negative territory while the bond market is slightly up. Rates are relatively unchanged from yesterdays good pricing.

If you purchased or refinanced in CALIFORNIA within the past 36 months and have a rate of 6.875% or higher, you should be calling me to refinance right now!

See the market details in Tuesday's Rate Lock Advisory...click HERE

Call us today for any purchase or refinance loan scenario to see how much we can save you at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

TIP OF THE DAY: NEVER shop for a new home without getting pre-approved (not pre-qualified) with me first. You need to know exactly how much house you can afford and how much you are comfortable paying each month without being cash poor/house rich.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[Tamalewagon]

Happy Thursday Campers and welcome to the new year!

The new year's MBS market has opened in positive territory which should reflect positively on this mornings rates. Let's hope the trend continues to push our rates down.

That said, for those of you looking to purchase or refinance in California, please submit your scenario to me. I guarantee we will beat any bank or credit unions pricing. Submit your scenario HERE

See the details in Thursday's Rate Lock Advisory...click HERE

TIP OF THE DAY: It may seem basic but NEVER NEVER purchase any big ticket items (cars, expensive toys, furniture etc.) when you are in the process of purchasing a home or refinancing. It can cause your debt to income ratio to spill out of the lenders approvable limitations.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

RPD referral for our services, check this thread -

The Mortgage Market Update Guy

The thread title is exactly what I said to myself about a month ago when I was trying to figure out who to go to for a refi on our house, "hey what about the mortgage update guy from RDP?" Fast forward to now, we're a few weeks closed, Scott put in a ton of leg work and made a game time call...

www.riverdavesplace.com

 

[Tamalewagon]

For those of you looking for a HELOC in California, I have a lender that is waiving their underwriting fee for the month of January.

Also! For qualified refinances in California, my company is waiving the appraisal fee for January.

Give us a call today! 619-255-3182

 

[Tamalewagon]

Happy Friday campers!

Rates are relatively flat this morning after opening in positive territory. Unfavorable economic news stalled this mornings initial gains. Next week will be very busy with reports but the big one we are waiting for is the (BS) governmental employment report. See the details in Friday's Rate Lock Advisory...click HERE

With mortgage rates projecting to stay in the 6% range in 2025, now is the perfect time to utilize your equity for debt consolidation into one low monthly payment, do that kitchen or bathroom update or take cash out to purchase more properties. Call us today at 866-476-2494 toll free or submit your unique loan scenario to us HERE. We will have loan options to you within an hour.

TIP OF THE DAY: VA borrowers save $13,432* on average when working with an independent mortgage broker compared to retail or credit unions.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[Tamalewagon]

Happy Monday campers...

I hope you all have recovered from the holidays. Kids are back in school...life returning to normal. As we kick off the new year, we are offering a free appraisal with any qualified California refinance for the month of January. Also, we one of our lenders is waiving their underwriting fee for qualified HELOCS here in California for the month of January as well. Grab these specials while time permits.

• For those of you that are self employed, we have excellent loan programs available for you as well with great rates.

See the details in Monday's Rate Lock Advisory...click HERE

Call us today for any loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

TIP OF THE DAY: Try Non QM DSCR first and second mortgages for purchasing or refinancing income or investment properties. Some programs go as high as 90% CLTV.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[Tamalewagon]

The MBS market opened in negative territory this morning following some negative economic news. The "JOLTS" report (job openings and labor turnover survey) shows the labor market is cooling. There has not been a large impact on mortgage rates so far. As previously mentioned, Fannie and Freddie are predicting mortgage rates to stay in the 6% range this year. That forecast was largely based off of the threat of foreign tariffs (which most of us know from Econ 101 tariffs are used to push negotiations) and may be revised on next months report. Stay tuned...

See the details in Tuesday's Rate Lock Advisory...click HERE

Call us today for any loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

TIP OF THE DAY: For self employed borrowers that cannot prove their income on paper, there are many loan programs available for you with rates that rival regular conventional loans. There are several documentation options we can use to get you approved for primary residences, second homes and investment properties...

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[Tamalewagon]

See the market details in Wednesday's Rate Lock Advisory...click HERE

Call us today for any purchase or refinance loan scenario to see how much we can save you at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

TIP OF THE DAY: if you are considering a refinance, we should be looking at a 2-1 buydown which lowers the interest rate by 2% lower than current market rates the first year and then 1% lower the second year which gives you great savings while we wait for lower rates...PM, call or email me for details. Contact info is below.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[Tamalewagon]

Happy Thursday campers. Today's MBS market opened slightly in the positive this morning with not much driving the market. I strongly suggest you lock your rates before tomorrow's Jobs report. If we get a strong Jobs Report, the 10-year bond could take a significant hit and rates will rise.

See the details in Thursday's Rate Lock Advisory...click HERE

Call us today for your purchase or refinance loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

TIP OF THE DAY: Fannie Mae and Freddie Mac are predicting mortgage rates to stay in the high 5% to 6% range throughout 2025 and possibly 2026. If you can reduce your current rate by .5% or more, you may see some significant savings particularly if you are consolidating your high interest 2nd mortgage or consumer debts. These rates are historically low and are much lower than credit card rates and second mortgage rates.

If purchasing a house, DO NOT hold out for lower rates. You will be leaving future equity on the table. Call us for the lowest rates for your California purchase.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[Tamalewagon]

The MBS and stock markets have opened well into negative territory this morning as predicted yesterday due to unfavorable employment news. These reports as I have mentioned several times before are inaccurate and susceptible to multiple revisions at later dates.

See the details in Friday's Rate Lock Advisory...click HERE

Call us today for your purchase or refinance loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

TIP OF THE DAY: You have the option of doing a cash out refinance or a HELOC for debt consolidation, college tuition and/or home improvements. Call use today to see which product works best for you. (We have a lender that has a special right now with no underwriting fee on HELOCS)

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[Tamalewagon]

Today's Federal Reserve updates, particularly surrounding employment data and potential monetary policy direction, significantly impact the mortgage market. Here's what it means:

1. Higher Interest Rate Expectations:
   • The strong December jobs report indicates that the labor market is resilient, giving the Fed more room to maintain higher interest rates to combat inflation.
   • Higher federal funds rates translate into increased borrowing costs for lenders, potentially driving mortgage rates higher.
2. Uncertainty in Rate Reductions:
   • Market expectations for interest rate cuts in 2025 may be delayed if the Fed sees continued strength in the economy and inflation risks. This could mean sustained high mortgage rates for the foreseeable future.
3. Impact on Homebuyers and Refinancing:
   • Higher mortgage rates can dampen demand for home purchases, as monthly payments become less affordable. This could also slow refinancing activity, as homeowners may be less inclined to trade in existing, lower-rate mortgages.
4. Market Volatility:
   • Bond markets, particularly U.S. Treasury yields, rose in response to the jobs report. Mortgage rates often track the 10-year Treasury yield, so short-term volatility could lead to fluctuating mortgage rate offers.

For homebuyers or those refinancing, this environment suggests monitoring rate trends closely and considering locking in rates sooner rather than later. For lenders, managing margins and adjusting to potential lower volumes will be critical.
(per Charles Rosenberg - Newfi)

 

[Tamalewagon]

Happy Monday campers...

Some good information from MBS Highway:

"Stocks and Mortgage Bonds are both lower to start the week.

The 10-year has unfortunately broken convincingly above resistance at 4.735% and is now around the average yield we have seen since 1790, which is 4.75%.

Oil prices are at their highest level since October with WTI at 78.44. The reason oil prices are up over $4 since Friday is the new sanctions imposed by the Biden administration on Russian Oil and Gas. If this doesn’t reverse, it will likely pressure overall inflation higher.

Consumers Do Not Feel as Good as Jobs Report Illustrates

While the latest BLS Jobs Report showed a strong labor market with a lot of job creations and the unemployment rate falling from 4.2% to 4.1%, consumer surveys tell a different story.

The University of Michigan Survey of Consumer Expectations showed that the share of those polled who see rising unemployment in the year ahead has skyrocketed from 32% in November to 40% in December to 50% in January — we last saw a number this high in April 2020.

The corresponding share expecting a lower unemployment rate fell to a four month low of 16% from 23% in December. The gap between those who think the unemployment rate is rising vs falling in the year ahead has expanded to 34%, which is right where it was back in December 2007 and January 2001 before that…both ahead of major crashes and recessions.

Bottom line – This leads us to believe that the recent BLS jobs numbers may be susceptible to big revisions in the months ahead."


See the details in Monday's Rate Lock Advisory...click HERE

Call us today for any loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

TIP OF THE DAY: Try Non QM DSCR first and second mortgages for purchasing or refinancing income or investment properties. Some programs go as high as 90% CLTV.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[Tamalewagon]

After opening barely in the negative this morning, the MBS market is finally in the positive after several days of getting beat up (no thanks to the BS government jobs reports) thanks to favorable inflations news this morning. We should see a slight rate improvement this morning.

See the details in Tuesday's Rate Lock Advisory...click HERE

Call us today for any loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

TIP OF THE DAY: Building a home? Get a "all in one" construction to permanent loan and avoid the inevitable refinance at the completion of your build. We also offer VA construction loans for those of you that serve or served our country.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com

 

[Tamalewagon]

Happy Hump Day campers!

Talk about a rebound! The MBS market has opened more than 50BPS in positive territory this morning which is excellent news for rates finally! This was largely due to some favorable inflation news. We should see a similar rebound when the corrections to the jobs report comes out later this month.

Rate cost could improve as much as 1 discount point this morning.

See the details in Wednesday's Rate Lock Advisory...click HERE

Call us today for any loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

TIP OF THE DAY: WE HAVE 100% FHA FINANCING AGAIN FOR A SHORT TIME. THIS PRODUCT IS A FIRST AND SECOND MORTGAGE COMBINATION THAT ALLOWS PURCHASES UP TO $806,000. WE ARE CURRENTLY IN PROCESS OF BECOMING LICENSED IN FLORIDA AND ARIZONA IN ADDITIONAL TO CALIFORNIA. (We are just waiting for NMLS approval). Call me today for details.

Scott Wenhe
619-255-3182
scottwenhe@gmail.com