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Sentry Real Estate Appraisal Blog

September 2nd, 2014 6:56 PM
Mortgage Rates Bounce Higher Before Challenging 2014 Lows

Mortgage rates were higher today, ending nearly a week and a half of modest improvements.  While no individual day stood out during that time, the combined effect took rates extremely close to their lowest levels of the year.  Had today moved in a more friendly direction, some lenders would be at 2014 lows.  Instead, we remain in the same narrow range that's characterized the past 4 months.  The most prevalent conforming 30yr fixed rate quote is unchanged at 4.125%, but the closing costs would be higher than they were on Friday. 
 

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Posted by Joseph M Coffaro on September 2nd, 2014 6:56 PMLeave a Comment

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Mortgage rates moved higher today after the Federal Reserve announced the first reduction in its purchases of Treasuries and MBS. But there is good news, or at least a silver lining. The negative effects on today's rate sheets are far less severe than they might have been. Part of the reason may have to do with how the Fed delivered the message. While they are tapering asset purchases, they also noted that the Fed Funds rate would remain low well past the time that unemployment hit 6.5% (their initial threshold for considering raising short term rates)

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Posted by Joseph M Coffaro on December 18th, 2013 3:40 PMLeave a Comment

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October 18th, 2013 5:14 PM

Mortgage rates were down yesterday and continue the trend today. Based on information from Mortgage News Daily today's 30-Year Rate is at 4.27% - Down from yesterdays 4.29%.

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Posted by Joseph M Coffaro on October 18th, 2013 5:14 PMLeave a Comment

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September 25th, 2013 2:41 PM

Mortgage rates fell to new 3-Month lows today. That makes this the 11th straight day where rates have held steady or moved lower. Conforming, 30-yr fixed rates remained at 4.375% for most lenders with the improvements coming in the form of lower closing costs or higher lender credit.  Some lenders are efficiently priced at 4.25% as well.  

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Posted by Joseph M Coffaro on September 25th, 2013 2:41 PMLeave a Comment

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September 16th, 2013 4:44 PM

Monthly sales figures from the California Association of Realtors® (C.A.R.) confirm indications from DataQuick data posted earlier today that the real estate market in American's most populous state have slowed.

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Posted by Joseph M Coffaro on September 16th, 2013 4:44 PMLeave a Comment

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September 16th, 2013 4:43 PM

Mortgage rates improved again today, bringing them to their best levels of month, just on par with rate sheets from late August.  Conforming, 30yr Fixed rates held at 4.625% in some cases with the improvement being more readily seen in the form of lower closing costs.  In others, the the most efficient combination of upfront cost and monthly payment fell to 4.5%.

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Posted by Joseph M Coffaro on September 16th, 2013 4:43 PMLeave a Comment

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Mortgage rates had an uneventful day, moving sideways on average.  Some lenders were almost perfectly unchanged, while others were slightly higher or lower than yesterday's latest levels.  
 
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Posted by Joseph M Coffaro on August 30th, 2013 12:30 PMLeave a Comment

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August 27th, 2013 4:12 PM
Mortgage rates hit their lowest levels in nearly two weeks today.  Conventional 30yr Fixed quotes for the most ideal scenarios are back down around 4.5% for some lenders and remain at 4.625% for many others.  The most visible, mainstream explanation for the move is the geopolitical risk surrounding Syria and the effect global markets.  Such risk can indeed motivate a "flight to safety" where investor demand tends to shift toward the least-risky assets like US Treasuries and out of more risky assets like stocks. 

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Posted by Joseph M Coffaro on August 27th, 2013 4:12 PMLeave a Comment

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National Housing Affordability Hits 5 Year Low
Aug 13, 2013 12:55 PM

Yesterday the California Association of Realtors® (C.A.R.) reported that home affordability in the state was falling rapidly. Today the National Association of Home Builders (NAHB) and Wells Fargo reported a similar, if less acute situation on a national level.

Read the Full Article -Http://www.mortgagenewsdaily.com/08132013_housing_affordability.asp


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Posted by Joseph M Coffaro on August 13th, 2013 5:01 PMLeave a Comment

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August 6th, 2013 12:41 PM

Home prices are moving higher at the fastest pace in 36-years. Based on information from Core-Logic there were no states where prices were down. California, Nevada, Arizona, Utah and Florida show the largest gains.

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Posted by Joseph M Coffaro on August 6th, 2013 12:41 PMLeave a Comment

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