Uncategorized
Do You Skip A Mortgage Payment When You Refinance
Many a loan officer use the phrase “You’ll get to skip a payment” when discussing refinances with potential customers. Sometimes, marketing (non-compliant/illegal marketing, we should add) promotes “skip 2 month’s payments!” as a potential refinance benefit. The reality of “skipping” mortgage payments when refinancing is actually a little more complicated, and a lot less exciting…
Read More2026 Conforming Loan Limits Announced
Conforming loan limit increases were announced this week for 2026. Fannie Mae and Freddie Mac, under FHFA, will securitize loan amounts up to $832,750, an increase of $26,250 from 2025. The FHFA loan limits each year are tied to US home prices, and as prices have increased over the years, loan limits increase to keep…
Read More“No Closing Costs” vs Mortgages with Closing Costs
Before diving too far into a conversation about the comparison of a “no closing cost” mortgage to a more traditional cost structure, it’s important to start with a disclaimer: There is no true “no closing cost” loan. When “no closing costs” is advertised in the mortgage industry, it’s referring to “who” or “how” closing costs…
Read MoreFannie Mae FICO Floor Removed
LOTS of mortgage news has been rolling out this week – 50 year mortgages, portable mortgages, no FICO requirement for conventional loans – unfortunately for consumers, the news has more closely resembled tabloid stories than actual, relevant information. For consumers, it’s important to note a few things about this week’s news before we get into…
Read MoreFed Cuts Rates .25 Amidst Continued Shutdown
Wednesday, October 29 the Federal Reserve voted (10-2, with one dissenting vote favoring a .5 cut and another dissenting vote favoring no cut at all) to cut the Federal Funds rate by .25, bringing it to a prevailing rate of 3.75-4%. On the news, mortgage rates rose slightly but remained within a tight range, with…
Read MoreHow The Government Shutdown Impacts Real Estate
As of midnight today, Wednesday 10/1/2025, the government has shut down. With an impasse in funding, the federal government has closed it’s doors on operations as congress works to reconcile monetary disagreements. This shutdown is the first since 2018. That shutdown was the longest in history, lasting over a month from December into January 2019.…
Read MoreWhen Should I Refinance
Mortgage refinance loans come in a wide variety of shapes and sizes – from streamlined rate reduction loans to cash out/home equity mortgage loans, there are a lot of different reasons to consider a refinance, and each of them has a different answer to the question “when should I refinance?”. We try to break down…
Read MoreWhat A Fed Rate Cut Means For You
Thanks to last Friday’s jobs numbers, a cut to the Federal Reserve Funds Rate is all but a certainty after the Fed’s monthly meeting later this month. As of this post, the markets are expecting a 50 basis point cut to the Fed funds rate, which will shake up financial markets, but not in ways…
Read MoreWeak Jobs Numbers Lead To Lower Mortgage Rates
Employment data was released this week in the form of the monthly ADP payroll report and the all-important BLS jobs report. For the first time in recent memory, both reports were duds. Unemployment ticked up to 4.3%, revisions to June & July reports were negative (-21,000 jobs), and a jobs market that to this point…
Read MoreConstruction Data & What It Means For You
When it comes to answering the question “will home prices continue to climb”, it’s difficult to provide accurate feedback or anything beyond a guess. But while difficult, the market offers clues in each month’s economic reports. One area we watch to get a glimpse into our crystal ball to see what the future holds is…
Read More
