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11/29 — 30 YR Fixed: 3.560%*

November 29th, 2019 • By: chrisking 30-yr, rates

FIXED Mortgage Rate* Points APR* 30 Year 3.560% 0.750 3.688% 15 Year 2.875% 1.000 3.137% ARM LOANS 5/1 LIBOR ARM 3.375% 1.000 3.521% 10/1 LIBOR ARM 3.375% 1.000 3.521% JUMBO LOANS 5/1 LIBOR ARM 3.625% 0.000 3.662% 30 Year 3.875% 0.750 3.973(1) Disclosures

11/29 — 15 YR Fixed: 2.875%*

November 29th, 2019 • By: chrisking 30-yr, rates

FIXED Mortgage Rate* Points APR* 30 Year 3.560% 0.750 3.688% 15 Year 2.875% 1.000 3.137% ARM LOANS 5/1 LIBOR ARM 3.375% 1.000 3.521% 10/1 LIBOR ARM 3.375% 1.000 3.521% JUMBO LOANS 5/1 LIBOR ARM 3.625% 0.000 3.662% 30 Year 3.875% 0.750 3.973(1) Disclosures

11/29 — 5/1 ARM: 3.375%*

November 29th, 2019 • By: chrisking 30-yr, rates

FIXED Mortgage Rate* Points APR* 30 Year 3.560% 0.750 3.688% 15 Year 2.875% 1.000 3.137% ARM LOANS 5/1 LIBOR ARM 3.375% 1.000 3.521% 10/1 LIBOR ARM 3.375% 1.000 3.521% JUMBO LOANS 5/1 LIBOR ARM 3.625% 0.000 3.662% 30 Year 3.875% 0.750 3.973(1) Disclosures

11/29 — 10/1 ARM: 3.375%*

November 29th, 2019 • By: chrisking 30-yr, rates

FIXED Mortgage Rate* Points APR* 30 Year 3.560% 0.750 3.688% 15 Year 2.875% 1.000 3.137% ARM LOANS 5/1 LIBOR ARM 3.375% 1.000 3.521% 10/1 LIBOR ARM 3.375% 1.000 3.521% JUMBO LOANS 5/1 LIBOR ARM 3.625% 0.000 3.662% 30 Year 3.875% 0.750 3.973(1) Disclosures

Market Update for November 21 2019: “In The Now”

November 29th, 2019 • By: chrisking News

“I had a good quote that came to mind that someone told me,” New England Patriots Quarterback Tom Brady recently said about his upcoming contract negotiation. “’The past and the future are in the mind. I am in the now.’ I think that is a great way to live life.” While I’m not a fan of the Patriots nor of Tom Brady, I do find his quote apropos because his mindset is the mindset that I have been encouraging my clients to have during the past year.

The economic market, and therefore the interest rate environment for mortgages, has been extremely unpredictable and tumultuous over the past year. My advice to clients has been if you see a rate you like, if you see an opportunity that makes sense for you, and if you can benefit from a rate or program that is available now, take it. We just do not know what is coming on a day-by-day basis.

As evidence of this, consider the economic data from the 3rd Quarter of 2019: “During the third quarter of 2019, equities posted a slight gain after rebounding from a significant sell-off in August. . . rates in the shortest duration fell the most. This suggests that the market is expecting a decrease in economic output in the near future.” [Wagner, Jerry C., President, Flexible Plan Investments. The President’s Letter, 3rd Quarter 2019. “Instant Gratification: Is It Achievable on Wall Street?”] From this same article, his firm concludes that on a going-forward basis, they recommend, “investor caution.”

I have been recommending Borrower Caution for the past year. The reasons include whipsawing economic data, a tumultuous political environment internationally, threats of trade wars, a lack of leadership, and a volatile American President. I’m pleased that the 3rd Quarter and entering the 4th Quarter have been busy times for CPK Mortgage. While business is great, I’m more grateful that clients are recognizing that low rates and strong property values are helping to put them in better economic positions through lowering their rates, consolidating debt or purchasing new properties that will yield new opportunities.

We still have a very low interest rate environment. And property values are still strong. So take advantage now, while we have some opportunity in the mortgage market.