At this time of year, we sit back and tell people what we are thankful for. I was thinking of a twist, and I wanted to let you all know what I am not thankful for, but that would be politically incorrect, especially today. This year has been challenging in the mortgage industry, and I […]

I have mentioned before that there are a lot of bad lenders around lately, and it’s amazing how they find buyers that go into escrow, and then I get the call 1-15 days later when things go sideways. I received one of these calls on Friday, and I could do the deal, and one yesterday […]

When the Champlain South Tower in Surfside Florida condo project collapsed in June of 2021, Fannie Mae and Freddie Mac decided to tighten their belt regarding condominiums and made some significant changes now seeing take effect in our marketplace. The concern is aging infrastructure and significant deferred maintenance across the nation. I know we are […]

The Federal Reserve increased the Federal Funds rate on Wednesday by .750, which pushed the Prime rate to 7.00% and pushed 30-year mortgage rates up slightly. Mortgage rates don’t follow the Federal Funds or the Prime rate, as the bond market and mortgage-backed securities primarily influence mortgage rates! We are finally getting closer to the […]

The Federal Reserve will be increasing rates again tomorrow, and the consensus is that rates will go up by .750%. An increase does NOT mean that mortgage rates will increase by .750%, and then we will get another increase of .50 % to .750 % in December. The Federal Reserve is doing everything possible to […]