Latest News Category: News

Last Week in Review: Fear Versus Hope Driving the Markets Again This past week, Freddie Mac reported mortgage rates hit the lowest in U.S. history -- 3.13%. The improvement in rates is a direct result of jobs returning, lowering the risk of mortgage default, coupled with increased competition forcing the industry to "sharpen" pricing. What […]

Last Week in Review: Fed says Zero - Rates Improve About every six weeks the Federal Reserve meets and decides whether to make potential changes to the Fed Funds Rate, an overnight lending rate. They also release their Monetary Policy Statement which includes the reasoning for their action or inaction. This past week, it was […]

Last Week in Review: Four Reasons Why Rates are on the Rise This Week This past week, home loan rates ticked a bit higher from their best levels in U.S. history. More importantly, this increase in rates may be the start of a trend in higher rates. Here's four reasons why rates rose and why […]

Last Week in Review: All-Time Low Home Loan Rates This past week, Freddie Mac reported the 30-year home loan rate hit an average all-time low of 3.15%. As the unofficial start of summer has begun and states continue to reopen, this is welcome news, but there is even more to the story. Refinance activity remains elevated […]

Last Week in Review: Three Trends to Follow as Summer Begins As the unofficial start of summer began with the Memorial Day holiday, there are three trends worth following which may determine how the economy moves past the coronavirus. The reopening. Most states have begun to open up in some form. A few states have been […]

Last Week in Review: Fed Speak Shakes Markets Home loan rates remain near historic lows and have stabilized, thanks mainly to the Federal Reserve, as the central bank continues to purchase mortgage-backed securities on a daily basis. The Fed also helped rates this past week in another way, but it may have been unintentional. Fed […]

Last Week in Review: Oversupply of Bonds and Unemployment One week after home loan rates failed to improve further in the face of multiple Bond-friendly stories, such as low inflation, high unemployment claims, and the Fed's continued commitment to purchase Bonds, we watched home loan rates tick up this past week. Why? Oversupply. The U.S. […]

Overview Effective May 11, 2020, the Wholesale/Correspondent lock policy will allow a 60-day lock at the Approval milestone regardless of whether the appraisal has been received. There is no longer an option for a 45-day lock term. See updated Minimum Lock Term table below. Revised Lock Policy Encompass and Optimal Blue will enforce these requirements. […]

We are doing all we can to provide an exceptionally high level of service during this unprecedented time, so that you can close every loan as swiftly as possible. To better serve you and eliminate delays, we’ve put together a list of tips to help get your loan closed quickly and smoothly.   All New […]

Overview The Lock Desk will be closed on Monday, May 25, 2020 for Memorial Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, May 26, 2020. Additionally, the Lock Desk will close early on Friday, May 22, 2020 at 11:00 A.M. PST due to the early close of the financial markets. […]