Rate Watch In an effort to quell inflation, the Fed increased policy rates by 0.75% at their most recent meeting. This is the largest increase since 1994 and more than initially expected. Mortgage interest rates had already moved upward in…
Inflation Climbs, Consumer Spending Surges It was a quiet week for mortgage markets. The strong economic growth and inflation data released this week was mostly in line with expectations, and mortgage rates ended the week with little change. A large…
Fast Facts About the Housing Market Gone in a flash! Homes are selling faster than ever. With record-low inventory and intense demand, homebuyers face fierce competition. A record 41% of homes sold above list price during a 4-week period ending…
How will the Federal Reserve impact mortgage rates? Homebuyers sometimes misunderstand how the Federal Reserve affects traditional mortgage rates. The Fed doesn’t actually set mortgage rates. Instead, it determines the federal funds rate, which generally impacts short-term and variable (adjustable)…
Interest Rates to Remain Steady This past Wednesday, the Federal reserve met to discuss the interest rate for the duration of 2019. It was reported that only 6 of the 17 officials opposed the plan to keep the interest rate…
Concerned About Saving for Your First Down Payment? A big misconception among first-time home buyers is that you need a 20% down payment to purchase a home. Several home loan programs now have minimum down payment options resulting in…
Wondering if You are Qualified to be a Homeowner? Are you wondering if you are qualified to be a homeowner? In this GMFS Mortgage video we discuss a range of home loan programs with varying minimum qualifications and features such…
What Does a Loan Officer do? This GMFS Mortgage video explains how Loan officers, often referred to as mortgage loan originators, are people who help borrowers acquire loans such as mortgages from banks and lending institutions. Loan officers work directly…