My Mind on Mortgages :
Rate Update Archives

Mortgage Rate Update June 19, 2017

Being the father of two children I recently won a toy in a raffle and had the challenge of figuring out which one to give it to.  I gathered my two kids and explained that the one that was most well behaved would win the toy.  So I asked them, “who is most obedient?”, “who […]

Mortgage Rate Update June 12, 2017

Nearly 122 years ago 11 golfers showed up at Newport Country Club in Rhode Island and played a 36 hole tournament in one day.  The winner, Horace Rawlins, was the very first US Open medalist and took home $150 for his performance.  This year’s tournament, which begins this Thursday at Erin Hills Golf Course in […]

Mortgage Rate Update June 5, 2017

On this day in 1933 Congress enacted a joint resolution that nullified creditors ability to demand gold effectively taking the US dollar off the gold standard.  Also not backed by gold (or even a government) are bitcoins.  The lack of backing doesn’t seem to be impacting its value though.  Had you invested $1,000 in bitcoins […]

Mortgage Rate Update May 22, 2017

Happy sunny Monday!  As you soak up rays this week you might be interested to know that sunlight travels 93 million miles from the surface of the sun to the surface of the Earth in 8 minutes and 20 seconds (all to be blocked by sunscreen). Do you know what else goes fast?  Housing inventory. […]

Mortgage Rate Update May 15, 2017

On this day in 1800 President John Adams ordered the Federal Government to pack up and leave Philadelphia and move operations to its new home in Washington DC.  At the time the Federal Government had 125 employees and the transition took one month.  Two hundred and seventeen years later there are now more people employed […]

Mortgage Rate Update May 8, 2017

Last week we switched to a locking bias and indeed mortgage rates did worsen very modestly.  Rates were pressured higher on Wednesday last week after the Fed labeled weak 1st quarter economic activity as “transitory”. Friday’s all-important jobs report showed that 194,000 new jobs were created during April and the US unemployment rate fell to […]

Mortgage Rate Update May 1, 2017

Happy May Day!  A short history lesson: The earliest accounts of May Day celebrations, meant to celebrate the birth of Spring, dates back the Roman Republic era.  However, in the late 19th century Socialist & Communist groups adopted May 1st to be International Workers’ Day in honor of lives that were lost during an attack […]

Mortgage Rate Update April 24, 2017

In case you have not set plans in motion I want to let you know that tomorrow is National Hug a Plumber Day.  You may want to contact one today and set up an appointment.  Don’t be surprised if they are a couple hours late. Last week mortgage rates lost a little bit of ground […]

Mortgage Rate Update April 17, 2017

On this day in 1961 the Bay of Pigs invasion began.  As we know the attempt to overthrow Fidel Castro was a complete failure as it ultimately solidified the relationship between Russia and Cuba and enhanced Cold War tensions. Speaking of tensions US interest rates have benefited from growing geopolitical uncertainty.  Global investors do not […]

Mortgage Rate Update April 10, 2017

In case you weren’t aware today is National Siblings Day.  Now is a great time to call your sibling and let them know how “okay” they are (just kidding Ceri!  You are awesome). Friday’s all-important jobs report showed that only 98,000 new jobs were created last month.  This was well below expectations and the lowest […]