RTC Mortgage Corporation

Mortgage Rates Drop to Lowest Level in Three Months January 23, 2020 Rates fell to the lowest level in three months and are about a quarter point above all-time lows. The very low rate environment has clearly had an impact on the housing market as both new construction and home sales have surged in response to the decline in rates, the rebound in the economy and improving financial market. Robust refinance activity in the second half of 2019 drove residential mortgage origina...tions to their highest level in 13 years. According to the Freddie Mac survey, the average rate was 3.60% + .8 points for a loan of $510,400 or less this week. Your rate may vary higher or lower due to various factors. Call us to find out what your rate would be today! 949-494-4701

Mortgage Rates Drop to Lowest Level in Three Months January 23, 2020 Rates fell to the lowest level in three months and are about a quarter point above all-time lows. The very low rate environment has clearly had an impact on the housing market as both new construction and home sales have surged in response to the decline in rates, the rebound in the economy and improving financial market. Robust refinance activity in the second half of 2019 drove residential mortgage origina...tions to their highest level in 13 years. According to the Freddie Mac survey, the average rate was 3.60% + .8 points for a loan of $510,400 or less this week. Your rate may vary higher or lower due to various factors. Call us to find out what your rate would be today! 949-494-4701

Did the Fed Cut Help Mortgage Rates? November 14, 2019 The modest uptick in mortgage rates over the last two months reflects declining recession fears and a more sanguine outlook for the global economy. Due to the improved economic outlook, hope for a China trade deal and a rising stock are the catalysts. Given the important role residential real estate plays in the economy, the steady improvement of the housing market is a reassuring sign that the economy is on solid ground ...heading into next year. The Federal Reserve cut its benchmark rate by a quarter of a percentage on Oct. 30 in a bid to keep the decade-long U.S. economic expansion going while signaling it likely was done with rate cuts for now. It was the Fed’s third consecutive quarter-point cut as the central bank tries to bolster a slowing economy. Since the Fed did exactly what was expected, it had no impact on mortgage rates. According to the Freddie Mac survey, the average rate was 3.75% + .6 points for a loan of $484,350 or less this week. Your rate may vary higher or lower due to various factors. Call us to find out what your rate would be today! 949-494-4701

Did the Fed Cut Help Mortgage Rates? November 14, 2019 The modest uptick in mortgage rates over the last two months reflects declining recession fears and a more sanguine outlook for the global economy. Due to the improved economic outlook, hope for a China trade deal and a rising stock are the catalysts. Given the important role residential real estate plays in the economy, the steady improvement of the housing market is a reassuring sign that the economy is on solid ground ...heading into next year. The Federal Reserve cut its benchmark rate by a quarter of a percentage on Oct. 30 in a bid to keep the decade-long U.S. economic expansion going while signaling it likely was done with rate cuts for now. It was the Fed’s third consecutive quarter-point cut as the central bank tries to bolster a slowing economy. Since the Fed did exactly what was expected, it had no impact on mortgage rates. According to the Freddie Mac survey, the average rate was 3.75% + .6 points for a loan of $484,350 or less this week. Your rate may vary higher or lower due to various factors. Call us to find out what your rate would be today! 949-494-4701

Mortgage Rates: Jump for Second Week in a Row October 17, 2019 Mortgage rates rose for the second week in a row and are now about .25% than at the low point in September. Despite the recent rise, the housing market remains on the upswing with improvement in construction and home sales. While there has been a material weakness in manufacturing and consistent trade uncertainty, other economic trends like employment and homebuilder sentiment are encouraging.... What’s the Fed’s Next Move? The next Fed Meeting is October 30th. The bond markets have priced in an 83% probability of another .25% rate cut at that meeting. But the probability has been decreasing in the past couple of weeks. So, as I always say, waiting for the Fed to make its move is not a good strategy. The markets have already factored it in during the preceding weeks. Unless there is a major surprise, there won’t be a further reduction in mortgage rates when they announce their decision. And if they don’t cut, rates could move up further. According to the Freddie Mac survey, the average rate this week 3.69% + .6 points for a loan of $484,150 or less this week. Your rate may vary higher or lower due to various factors. Call us to find out what your rate would be today! 949-494-4701

Mortgage Rates: Jump for Second Week in a Row October 17, 2019 Mortgage rates rose for the second week in a row and are now about .25% than at the low point in September. Despite the recent rise, the housing market remains on the upswing with improvement in construction and home sales. While there has been a material weakness in manufacturing and consistent trade uncertainty, other economic trends like employment and homebuilder sentiment are encouraging.... What’s the Fed’s Next Move? The next Fed Meeting is October 30th. The bond markets have priced in an 83% probability of another .25% rate cut at that meeting. But the probability has been decreasing in the past couple of weeks. So, as I always say, waiting for the Fed to make its move is not a good strategy. The markets have already factored it in during the preceding weeks. Unless there is a major surprise, there won’t be a further reduction in mortgage rates when they announce their decision. And if they don’t cut, rates could move up further. According to the Freddie Mac survey, the average rate this week 3.69% + .6 points for a loan of $484,150 or less this week. Your rate may vary higher or lower due to various factors. Call us to find out what your rate would be today! 949-494-4701

Mortgage Rates: Rates Steady / Demand Rises October 3, 2019 While mortgage rates generally held steady this week, overall mortgage demand remained very strong, rising over fifty percent from a year ago thanks to increases in both refinance and purchase mortgage applications. As economic growth decelerates, low mortgage rates should continue to support the mortgage market for the remainder of the year.... What’s the Fed’s Next Move? The Fed does not control mortgage rates. The expectation of their decisions influences the financial markets in the days, weeks & months ahead. The next Fed Meeting is October 30th. At their last meeting, the Fed did as expected, cutting by .25%, and it had no significant impact on mortgage rates. Now, the market is trying to guess if/when the Fed will cut again with another cut either in October or December. Therefore, the market is reacting now to the expectation as well as the China trade/tariff situation and other global financial events. According to the Freddie Mac survey, the average rate this week 3.65% + .6 points for a loan of $484,150 or less this week. Your rate may vary higher or lower due to various factors. Call us to find out what your rate would be today! 949-494-4701

Mortgage Rates: Up & Down. Home Sales Rise September 26, 2019 With both the unemployment rate and mortgage rate below 4% and near historic lows, it is no surprise that the housing market regained momentum with home sales and construction at or near decade highs. The fall housing market is poised to continue with steady gains in prices and solid sales activity. The on-again/off-again China trade deal seems to be driving the daily rate fluctuations more than anything. ... The Fed Does Not Control Mortgage Rates: Contrary to public perception, the Fed does not control mortgage rates. Most mortgages become part of Mortgage-Backed Securities that are traded in the open financial markets. These are traded daily, their cost/rate influenced by many domestic and global factors. Mortgage bond rates/prices move in anticipation of what the Fed is expected to do in addition to many other factors. Since the Fed did as expected by cutting the Fed Funds rate by .25%, the recent cut had no impact on mortgage rates. Now, the market is trying to guess if the Fed will cut again. According to the Freddie Mac survey, the average rate this week 3.64% + .6 points for a loan of $484,150 or less this week. Your rate may vary higher or lower due to various factors. Call us to find out what your rate would be today! 949-494-4701

Mortgage Rates: Rates Steady / Demand Rises October 3, 2019 While mortgage rates generally held steady this week, overall mortgage demand remained very strong, rising over fifty percent from a year ago thanks to increases in both refinance and purchase mortgage applications. As economic growth decelerates, low mortgage rates should continue to support the mortgage market for the remainder of the year.... What’s the Fed’s Next Move? The Fed does not control mortgage rates. The expectation of their decisions influences the financial markets in the days, weeks & months ahead. The next Fed Meeting is October 30th. At their last meeting, the Fed did as expected, cutting by .25%, and it had no significant impact on mortgage rates. Now, the market is trying to guess if/when the Fed will cut again with another cut either in October or December. Therefore, the market is reacting now to the expectation as well as the China trade/tariff situation and other global financial events. According to the Freddie Mac survey, the average rate this week 3.65% + .6 points for a loan of $484,150 or less this week. Your rate may vary higher or lower due to various factors. Call us to find out what your rate would be today! 949-494-4701

Mortgage Rates: Rates Rise this Week Despite Fed Rate Cut September 19, 2019 Despite the rise in mortgage rates, economic data improved this week particularly housing activity, which gained momentum with a noticeable rise in purchase demand and new construction. Homebuyers flocked to lenders with purchase applications, which were up fifteen percent from a year ago and residential construction permits increased twelve percent from a year ago to 1.4 million, the highest level... in twelve years. While there was initially a slow response to the overall lower mortgage rate environment this year, it is clear that the housing market is improving due to the strong labor market and low mortgage rates. The Fed Does Not Control Mortgage Rates: Contrary to public perception, the Fed does not control mortgage rates. Most mortgages become part of Mortgage-Backed Securities that are traded in the open financial markets. These are traded daily, their cost/rate influenced by many domestic and global factors. Mortgage bond rates/prices move in anticipation of what the Fed is expected to do in addition to many other factors. Since the Fed did as expected by cutting the Fed Funds rate by .25%, it had no impact on mortgage rates since this cut had been factored into rates in the weeks preceding the cut. According to the Freddie Mac survey, the average borrower paid .5 points for the average rate of 3.73% for a loan of $484,150 or less this week. Your rate may vary higher or lower due to various factors. Call us to find out what your rate would be today! 949-494-4701

Mortgage Rates: Up & Down. Home Sales Rise September 26, 2019 With both the unemployment rate and mortgage rate below 4% and near historic lows, it is no surprise that the housing market regained momentum with home sales and construction at or near decade highs. The fall housing market is poised to continue with steady gains in prices and solid sales activity. The on-again/off-again China trade deal seems to be driving the daily rate fluctuations more than anything. ... The Fed Does Not Control Mortgage Rates: Contrary to public perception, the Fed does not control mortgage rates. Most mortgages become part of Mortgage-Backed Securities that are traded in the open financial markets. These are traded daily, their cost/rate influenced by many domestic and global factors. Mortgage bond rates/prices move in anticipation of what the Fed is expected to do in addition to many other factors. Since the Fed did as expected by cutting the Fed Funds rate by .25%, the recent cut had no impact on mortgage rates. Now, the market is trying to guess if the Fed will cut again. According to the Freddie Mac survey, the average rate this week 3.64% + .6 points for a loan of $484,150 or less this week. Your rate may vary higher or lower due to various factors. Call us to find out what your rate would be today! 949-494-4701

Mortgage Rates: Rates Rise this Week Despite Fed Rate Cut September 19, 2019 Despite the rise in mortgage rates, economic data improved this week particularly housing activity, which gained momentum with a noticeable rise in purchase demand and new construction. Homebuyers flocked to lenders with purchase applications, which were up fifteen percent from a year ago and residential construction permits increased twelve percent from a year ago to 1.4 million, the highest level... in twelve years. While there was initially a slow response to the overall lower mortgage rate environment this year, it is clear that the housing market is improving due to the strong labor market and low mortgage rates. The Fed Does Not Control Mortgage Rates: Contrary to public perception, the Fed does not control mortgage rates. Most mortgages become part of Mortgage-Backed Securities that are traded in the open financial markets. These are traded daily, their cost/rate influenced by many domestic and global factors. Mortgage bond rates/prices move in anticipation of what the Fed is expected to do in addition to many other factors. Since the Fed did as expected by cutting the Fed Funds rate by .25%, it had no impact on mortgage rates since this cut had been factored into rates in the weeks preceding the cut. According to the Freddie Mac survey, the average borrower paid .5 points for the average rate of 3.73% for a loan of $484,150 or less this week. Your rate may vary higher or lower due to various factors. Call us to find out what your rate would be today! 949-494-4701

Mortgage Rates: No, The Fed Did Not Cut Mortgage Rates August 8, 2019 The Fed meets 8 times each year and adjusts only the Fed Funds Rate which is the rate at which member banks can borrow money from the Treasury. That’s the only rate the Fed Controls. Mortgages are almost always securitized into Mortgage Backed Securities (MBS) that are financial instruments traded in the free market. These rates change daily and even throughout the day. Therefore, mortgage rates change in a...nticipation of what the fed might do with the Fed Funds rate. As such, it was that anticipation that led to mortgage rates declining in the months before the Fed did exactly what was expected and cut the Fed Funds Rate. As a result, mortgage rates did not have much of a reaction. DON’T wait for the Fed to lower rates: The Fed is widely expected to cut the Fed Funds Rate again later this year. As such, we may get further declines in mortgage rates in the months leading up to that. But there are numerous other economic and global factors that also influence mortgage rates too. According to the Freddie Mac survey, the average borrower paid .6 points for the average rate of 3.60% for a loan of $484,150 or less this week. Your rate may vary higher or lower due to various factors. Call us to find out what your rate would be today! 949-494-4701

Mortgage Rates: No, The Fed Did Not Cut Mortgage Rates August 8, 2019 The Fed meets 8 times each year and adjusts only the Fed Funds Rate which is the rate at which member banks can borrow money from the Treasury. That’s the only rate the Fed Controls. Mortgages are almost always securitized into Mortgage Backed Securities (MBS) that are financial instruments traded in the free market. These rates change daily and even throughout the day. Therefore, mortgage rates change in a...nticipation of what the fed might do with the Fed Funds rate. As such, it was that anticipation that led to mortgage rates declining in the months before the Fed did exactly what was expected and cut the Fed Funds Rate. As a result, mortgage rates did not have much of a reaction. DON’T wait for the Fed to lower rates: The Fed is widely expected to cut the Fed Funds Rate again later this year. As such, we may get further declines in mortgage rates in the months leading up to that. But there are numerous other economic and global factors that also influence mortgage rates too. According to the Freddie Mac survey, the average borrower paid .6 points for the average rate of 3.60% for a loan of $484,150 or less this week. Your rate may vary higher or lower due to various factors. Call us to find out what your rate would be today! 949-494-4701

Mortgage Rates Drop to Lowest Level in Three Months January 23, 2020 Rates fell to the lowest level in three months and are about a quarter point above all-time lows. The very low rate environment has clearly had an impact on the housing market as both new construction and home sales have surged in response to the decline in rates, the rebound in the economy and improving financial market. Robust refinance activity in the second half of 2019 drove residential mortgage origina...tions to their highest level in 13 years. According to the Freddie Mac survey, the average rate was 3.60% + .8 points for a loan of $510,400 or less this week. Your rate may vary higher or lower due to various factors. Call us to find out what your rate would be today! 949-494-4701

Did the Fed Cut Help Mortgage Rates?

Did the Fed Cut Help Mortgage Rates? November 14, 2019 The modest uptick in mortgage rates over the last two months reflects declining recession fears and a more sanguine outlook for the global economy. Due to the improved economic outlook, hope for a China trade deal and a rising stock are the catalysts. Given the important role residential real estate plays in the economy, the steady improvement of the housing market is a reassuring sign that the economy is on solid ground ...heading into next year. The Federal Reserve cut its benchmark rate by a quarter of a percentage on Oct. 30 in a bid to keep the decade-long U.S. economic expansion going while signaling it likely was done with rate cuts for now. It was the Fed’s third consecutive quarter-point cut as the central bank tries to bolster a slowing economy. Since the Fed did exactly what was expected, it had no impact on mortgage rates. According to the Freddie Mac survey, the average rate was 3.75% + .6 points for a loan of $484,350 or less this week. Your rate may vary higher or lower due to various factors. Call us to find out what your rate would be today! 949-494-4701

Mortgage Rates: Jump for Second Week in a Row October 17, 2019 Mortgage rates rose for the second week in a row and are now about .25% than at the low point in September. Despite the recent rise, the housing market remains on the upswing with improvement in construction and home sales. While there has been a material weakness in manufacturing and consistent trade uncertainty, other economic trends like employment and homebuilder sentiment are encouraging.... What’s the Fed’s Next Move? The next Fed Meeting is October 30th. The bond markets have priced in an 83% probability of another .25% rate cut at that meeting. But the probability has been decreasing in the past couple of weeks. So, as I always say, waiting for the Fed to make its move is not a good strategy. The markets have already factored it in during the preceding weeks. Unless there is a major surprise, there won’t be a further reduction in mortgage rates when they announce their decision. And if they don’t cut, rates could move up further. According to the Freddie Mac survey, the average rate this week 3.69% + .6 points for a loan of $484,150 or less this week. Your rate may vary higher or lower due to various factors. Call us to find out what your rate would be today! 949-494-4701

Mortgage Rates: Rates Steady / Demand Rises October 3, 2019 While mortgage rates generally held steady this week, overall mortgage demand remained very strong, rising over fifty percent from a year ago thanks to increases in both refinance and purchase mortgage applications. As economic growth decelerates, low mortgage rates should continue to support the mortgage market for the remainder of the year.... What’s the Fed’s Next Move? The Fed does not control mortgage rates. The expectation of their decisions influences the financial markets in the days, weeks & months ahead. The next Fed Meeting is October 30th. At their last meeting, the Fed did as expected, cutting by .25%, and it had no significant impact on mortgage rates. Now, the market is trying to guess if/when the Fed will cut again with another cut either in October or December. Therefore, the market is reacting now to the expectation as well as the China trade/tariff situation and other global financial events. According to the Freddie Mac survey, the average rate this week 3.65% + .6 points for a loan of $484,150 or less this week. Your rate may vary higher or lower due to various factors. Call us to find out what your rate would be today! 949-494-4701

Mortgage Rates: Up & Down. Home Sales Rise September 26, 2019 With both the unemployment rate and mortgage rate below 4% and near historic lows, it is no surprise that the housing market regained momentum with home sales and construction at or near decade highs. The fall housing market is poised to continue with steady gains in prices and solid sales activity. The on-again/off-again China trade deal seems to be driving the daily rate fluctuations more than anything. ... The Fed Does Not Control Mortgage Rates: Contrary to public perception, the Fed does not control mortgage rates. Most mortgages become part of Mortgage-Backed Securities that are traded in the open financial markets. These are traded daily, their cost/rate influenced by many domestic and global factors. Mortgage bond rates/prices move in anticipation of what the Fed is expected to do in addition to many other factors. Since the Fed did as expected by cutting the Fed Funds rate by .25%, the recent cut had no impact on mortgage rates. Now, the market is trying to guess if the Fed will cut again. According to the Freddie Mac survey, the average rate this week 3.64% + .6 points for a loan of $484,150 or less this week. Your rate may vary higher or lower due to various factors. Call us to find out what your rate would be today! 949-494-4701

Mortgage Rates: Rates Rise this Week Despite Fed Rate Cut September 19, 2019 Despite the rise in mortgage rates, economic data improved this week particularly housing activity, which gained momentum with a noticeable rise in purchase demand and new construction. Homebuyers flocked to lenders with purchase applications, which were up fifteen percent from a year ago and residential construction permits increased twelve percent from a year ago to 1.4 million, the highest level... in twelve years. While there was initially a slow response to the overall lower mortgage rate environment this year, it is clear that the housing market is improving due to the strong labor market and low mortgage rates. The Fed Does Not Control Mortgage Rates: Contrary to public perception, the Fed does not control mortgage rates. Most mortgages become part of Mortgage-Backed Securities that are traded in the open financial markets. These are traded daily, their cost/rate influenced by many domestic and global factors. Mortgage bond rates/prices move in anticipation of what the Fed is expected to do in addition to many other factors. Since the Fed did as expected by cutting the Fed Funds rate by .25%, it had no impact on mortgage rates since this cut had been factored into rates in the weeks preceding the cut. According to the Freddie Mac survey, the average borrower paid .5 points for the average rate of 3.73% for a loan of $484,150 or less this week. Your rate may vary higher or lower due to various factors. Call us to find out what your rate would be today! 949-494-4701

Mortgage News You Can Use

Mortgage Rates: No, The Fed Did Not Cut Mortgage Rates August 8, 2019 The Fed meets 8 times each year and adjusts only the Fed Funds Rate which is the rate at which member banks can borrow money from the Treasury. That’s the only rate the Fed Controls. Mortgages are almost always securitized into Mortgage Backed Securities (MBS) that are financial instruments traded in the free market. These rates change daily and even throughout the day. Therefore, mortgage rates change in a...nticipation of what the fed might do with the Fed Funds rate. As such, it was that anticipation that led to mortgage rates declining in the months before the Fed did exactly what was expected and cut the Fed Funds Rate. As a result, mortgage rates did not have much of a reaction. DON’T wait for the Fed to lower rates: The Fed is widely expected to cut the Fed Funds Rate again later this year. As such, we may get further declines in mortgage rates in the months leading up to that. But there are numerous other economic and global factors that also influence mortgage rates too. According to the Freddie Mac survey, the average borrower paid .6 points for the average rate of 3.60% for a loan of $484,150 or less this week. Your rate may vary higher or lower due to various factors. Call us to find out what your rate would be today! 949-494-4701