Empyrean Mortgage

08/13/2020

GSE's put .500 hit on Refi's! Hurry and Lock before Sep 1st!
http://www.mortgagenewsdaily.com/consumer_rates/951943.aspx #:~:text=The%20FHFA%2C%20Fannie%20and%20Freddie's,aren't%20already%20well%20underway.

In what can only be described as a cash grab, Fannie and Freddie's regulator just announced a new tax on refinances. Granted, it's not technically a tax, and it wasn't probably even intended to hit the pocketbooks of the American homeowner, but that's unfortunately...

06/29/2020

Hello. Just wanted to let everyone know that rates are lower than I've ever seen them before. This past year, since I've changed the way I run my business, I have not had any competitor beat me on rate or pricing. Give me a call and get a free, no obligation estimate. I know you will be pleasantly surprised and I'm sure you will start referring me to others.

03/31/2020

Why rates don't fall more?

Bottom line: the Fed’s unlimited MBS buying doesn’t mean home loan rates are going to improve much further, but it will rather stabilize the market and keep rates near current levels, affording homeowners the ability to refinance and secure a low home loan rate.

Read the full article here:

Last Week in Review: Liquidity Defined This past week, thanks to the Federal Reserve, home loan rates declined. The high uncertainty around the coronavirus and its impact on homeowners and mortgage payments created a dire need for liquidity in the mortgage-backed security (MBS) market. This is where...

03/12/2020

"So, what's the deal? Demand for refinancing spiked as initial reports spread of record-low rates, and a mass selloff of bonds appears to be driven by fears of this surge in refinancing. In short, more refinancing reduces the value of mortgage-backed securities: Holders receive an earlier repayment than planned and then must reinvest that money elsewhere, presumably at a lower yield than that offered by the previous loan. Some are speculating that lenders may be artificially buoying advertised rates in order to stem this rising tide of refinancing activity and simply keep up with demand." [National Mortgage News, 3/12/20]

** Translation: It's very probable that rates will go back down to where they were a few days ago. It's best to be prepared for this and have your loans submitted so we can lock quickly when they do reach those lows.

03/09/2020

Mortgage rates hit lowest level in almost 50 years!

03/05/2020

To everyone following me. I have not lost 1 deal to any competitor this past year. And I have been shopped aggressively. My rates and APR's are lower than any other competitor I have seen. Call me and you will see.

03/05/2020

Mortgage rates hit their lowest point since Freddie Mac began tracking this data in 1971, as the 10-year Treasury yield fell below 1% after the Federal Open Market Committee's surprise short-term rate cut.

03/05/2020

Mortgage rates hit all-time low following Fed action...

01/23/2020

Rates are really, really low right now. Shop me. Bet you can't get lower.

11/26/2019

The Federal Reserve isn’t likely to cut interest rates again any time soon, according to the minutes of its most recent policy meeting.

In late October, the Fed cut its benchmark rate for the third time this year, lowering the rate to a range of 1.5% to 1.75%. Most members of the Federal Open Market Committee felt the three cuts were enough “to support the outlook of moderate growth, a strong labor market, and inflation near the Committee’s symmetric 2 percent objective,” the minutes said.

11/05/2019

U.S. Economic Expansion is Longest in History
The 121-month U.S. economic expansion, which began in June 2009, is the longest in the history of the country, according to the National Bureau of Economic Research. So reports CNBC.

While the current expansion has set a record for length of time, it saw cumulative GDP growth of 25%, which is much slower than previous expansions. Additionally, despite current unemployment of just 3.6% (May 2019), job growth has also paled compared to other recoveries since WWII.

The current expansion breaks the previous record, which ran from March 1991 to March 2001.