Maryland Mortgage Loans

#ForBuyers #Infographics #FirstTimeHomeBuyers #MoveUpBuyers Facts About Closing Costs [INFOGRAPHIC]: * If you’re thinking about buying a home, be sure to plan for closing costs. * Closing costs are typically 2% to 5% of the total purchase price of a home, and they can include things like government recording costs, appraisal fees, and more. http://dlvr.it/Slmp9C http://dlvr.it/SlmpXX

* If you’re thinking about buying a home, be sure to plan for closing costs. * Closing costs are typically 2% to 5% of the total purchase price of a home, and they can include things like government recording costs, appraisal fees, and more. http://dlvr.it/SlmpGX

You may have seen headlines saying the housing market is headed for a crash. It’s important to know why that’s not likely to happen. DM me to talk about why today’s housing market is different than it was in 2008. #realestate #homeownership www.DanFreshley.com http://dlvr.it/SlgSgC

Applications for both home purchases and refinancing rose for the fourth time during the week ended March 24. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of application volume, increased 2.9 percent on a seasonally adjusted basis and 3.0 percent unadjusted compared to the week ended March 17.   The Refinance Index was 5 percent higher than the previous week and the refinance share of activity increased to 29.1 percent of total applications from 28.6 percent. The Index was 61 percent lower than the same week in 2022. [refiappschart] Purchase applications were 2.0 percent higher than the prior week on both an adjusted and an unadjusted basis  but the unadjusted Purchase Index was 35 percent lower than the same week a year earlier.   [purchaseappschart] “Application activity increased as mortgage rates declined for the third straight week. The 30-year fixed rate declined to 6.45 percent, the lowest level in over a month,” said Joel Kan, MBA’s Vice Pre

The week began with a noticeable uptick in mortgage rates relative to last week's lows.  Today's momentum continued in the same direction, but with less urgency.  The average lender moved up by 0.06% for a flawless conforming 30yr fixed scenario. Mortgage rates are driven by the constantly-changing prices of mortgage-backed securities (MBS), which are essentially bonds that rely on mortgages as collateral.  The bond market had been doing very well in the midst of the recent banking panic as investors sought safe havens to park cash.  MBS and Treasuries both fit that bill. But as panic subsides, investors have moved cash out of the bond market.  This puts downward pressure on bond prices and upward pressure on yields/rates.  This continues to be the primary source of input for rates, and one that is beginning to settle down.  There is more room for rates to adjust higher if banking concerns continue to subside.  http://dlvr.it/SldQ65

Some people might like the idea of perpetual appreciation in the housing market, but others know that the industry was badly in need of a cool-down after values surged at an unprecedented pace post-pandemic.  While the interest rate spike of 2022 wasn't entirely unprecedented, it was the fastest in decades and it left no doubt as to when home prices should embark on the much-needed correction. Two of the most official methods to track home price progress are the FHFA and Case Shiller Home Price Indices (HPIs), released concurrently once per month.  January's update just came out this morning and the results are mixed. In annual terms, price appreciation continues to decline rapidly: Based on price trends over the past 12 months, it would be almost impossible for the annual pace to avoid dipping into negative territory in the coming months.  That will be more a reflection of how high prices were a year ago than an absence of resilience in the present. In fact, the most recent tr

The week began with a somewhat sharp sell-off.  This followed the steady selling pressure in bonds seen last Friday (albeit after the lowest opening yields in more than 5 months).  With bank failures being the key reason for those low yields and a distinct absence of new bank failure in recent days, is it time to consider the end of this bull run in bonds?   If one were to base their answer entirely on yesterday's trading, then "maybe."  But let's consider the broader context.  We've had several 24-48hr periods where rates have spiked in similar fashion only to be dragged back down to the new, lower yield range.  Notably, the "new" range is actually also the same old range that we were watching in late January--the one that was ultimately broken by the strong jobs report in early February. Treasury yields continue to operate in this range, despite a bit more volatility around the highs and lows.  Additionally, the recent peaks in yields (and Fed Fund