Elite Home Loans: Harry Dennis, Mortgage Broker NMLS #46163

, : Average mortgage rates remained low but were basically unchanged last week, as both lenders and markets closed early on Thursday and all day Friday for New Years.... : Average mortgage rates will likely remain low, but are not likely to go much lower this week as markets return to normal volume levels after the holidays. Although there is not a lot of risk of rates rising in the near term, there is also not a lot in favor of seeing rates improve much from here. You may want to take the advice of your local mortgage professional for locking or floating based on your individual circumstances. ' : - Lender capacity: Lenders continue to struggle with volume constraints, making it unlikely they would push rates significantly lower this week, although small movements are possible. - Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates low and generally stable. - Economic data: A few smaller reports unlikely to have any effect on rates, but Friday's jobs data could cause some movement.

It's been one heckuva year... let's take a moment to catch our breath and welcome in the New Year! Here's a beautiful rendition of "Auld Lange Syne"... please enjoy it with me. Be sure to turn the volume up!

, : Average mortgage rates last week remained low. Markets were closed early on Thursday and all day Friday for Christmas, as were most lenders.... : Average mortgage rates this week will likely remain about the same, as trading volumes remain light this week ahead of New Years. It is unlikely we will see much movement in rates this week, with little happening in the news or in the markets to cause lenders to have to raise or lower rates significantly. As the year winds to a close, it remains a great time to talk with your local mortgage professional about buying a home or refinancing to take advantage of current low rates. ' : - Holiday week: Mortgage rates are largely based on the pricing of mortgage bonds, and the bond market will be closed early on Thursday and remain closed on Friday, as will lenders. - Lender capacity: Lenders continue to struggle with volume constraints, making it unlikely they would push rates significantly lower this week, although small movements are possible. - Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates low and generally stable.

, : Average mortgage rates last week remained low, and in some situations were slightly better than the previous week.... : Average mortgage rates this week will likely remain about the same, as underlying market conditions slow down ahead of the Christmas holiday. Also, lenders won't be looking to lower rates and take on an influx of new business this week, making it unlikely to see any significant improvement in rates. Rates are not at risk of moving much higher from current levels between now and the end of the year, making it a great time to talk with your local mortgage professional about buying a home or refinancing the home you currently own. ' : - Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates low and generally stable. - Holiday week: Mortgage rates are largely based on the pricing of mortgage bonds, and the bond market will be closed early on Thursday and remain closed on Friday. - Lender capacity: Lenders continue to struggle with volume constraints, making it unlikely they would push rates significantly lower this week, although small movements are possible.

, : Average mortgage rates last week remained largely unchanged as markets and lenders closed for Thanksgiving.... : Average mortgage rates this week are likely to improve at least slightly from last week, but could still vary day-to-day. Most improvements will come in the form of better rebate pricing, the credit a lender gives you towards your closing costs or the cost to obtain a lower rate, usually referred to as 'points'. ' : - Covid-19: An increase in covid cases and hospitalizations has some areas of the country going back to lockdowns or implementing business curfews. The effect will be bad for the economic recovery, helping to keep rates low for the near term. - Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates low and stimulating the economic recovery. - Economic data: There isn't a lot of data this week, but Friday's jobs data could impact rates and pricing. - Weak economy: Increased unemployment and reduced consumer spending, especially in the holiday season, are likely to weaken the economy and see rates benefit.

Just a little something to make you laugh... , !

You have likely heard the ads... "Push button. Get mortgage" Is it really that easy? Not yet it's not... The truth is that there are many different mortgage programs out there, and which one you choose can affect your interest rate, your payment, and even the amount of money you will need to put down.... Making a mistake could cost you hundreds of dollars a month and thousands (or even tens of thousands!) of dollars over the life of your mortgage. Or, it could mean that you have to put down more money than you really needed to. Even with the right program, a lot can go wrong during the mortgage process. Don't you want a human on your side to help guide you through the problems and make it go smoothly and hassle free? I can do that for you. , ' . ' , ' . ' .

! The conforming loan amount is going from $510,400 to $548,250 in 2021. If you'd like to know how that affects you, let me know and I'll be glad to go over it with you. , ' , ' .

, : Average mortgage rates last week improved slightly, as concerns over increasing covid numbers and subsequent lockdowns and slowdowns pushed investors to the safety of bonds.... : Average mortgage rates this week will remain low heading into the Thanksgiving holiday, and are unlikely to get significantly better or worse. The outlook heading into December is that rates may continue to improve in small increments, although some days will continue to have better pricing than others. ' : - Possible lockdowns: An increase in covid cases and hospitalizations has some areas of the country going back to tightening restrictions and lockdowns, and implementing business curfews. The effect will be bad for the economic recovery, which helps to keep rates low for the near term. - Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates low and limiting how far rates should rise in the near term. - Economic data: The data on the calendar this week is not likely to have a big effect on rates. - Thanksgiving: Bond markets will be closed on Thursday and will close early on Friday.

"How much house can I afford?" If you're considering buying a home, this is probably one of the first questions you'll ask. And while a mortgage calculator can give you a rough estimate, it can't tell you what interest rate you'll qualify for or provide you with the range of options that may be available. Finding an accurate number for how much house you'll qualify for, AND what you can comfortably afford, can be made much easier with guidance from a mortgage professio...nal like me. I can help you understand what you qualify for, discuss what kind of payment you're comfortable with, compare loan programs, and then help you get a low rate while making the whole process convenient. You can contact me anytime for a free, no obligation conversation about buying a home and how much house you can afford. Go ahead and check out my reviews to see what others have to say about how I helped them. Why not reach out to me, knowing you won't get any sales pitch or be pressured to take any action? I'm simply here to help!