Mortgage News For The Week Ended May 20, 2022

MORTGAGE NEWS By Jose Diaz Loan Officer

Consumer Spending Surges The major economic data released this week was roughly in line with the expected levels and caused little reaction. Tough talk from the Fed on fighting inflation also had little impact, and mortgage rates ended the week a bit lower. In April, retail sales rose a substantial 0.9% from March and were […]

Mortgage News for the week ended May 6, 2022

MORTGAGE NEWS By Jose Diaz Loan Officer

The Fed Takes Action The last Mortgage News for the past week: Federal Reserve hiked the Fed Fund Rate by .50%, the largest rate increase in 22 years. Let’s discuss what other action the Fed took, how the market reacted and what to look for in the week ahead. “I would like to first speak […]

Mortgage News for the week ended April 29, 2022

MORTGAGE NEWS By Jose Diaz Loan Officer

Gross Domestic Product Declines Over the past week, the major economic data caused little reaction, and the daily movements in mortgage markets were roughly offsetting. As a result, rates ended the week little changed. Gross Domestic Product (GDP) is the broadest measure of economic activity. During the first quarter, GDP fell at an annualized rate […]

Mortgage News for the week ended April 22, 2022

MORTGAGE NEWS By Jose Diaz Loan Officer

April 22, 2022. Home Sales Fall While it was a light week for economic data, Fed officials continued to talk tough about tightening monetary policy to fight inflation. As a result, mortgage rates climbed to the highest levels since 2010. On Thursday, Fed Chair Powell again stressed that it is “absolutely essential” to maintain price […]

New Conventional Loan limits for 2022

The Federal Housing Finance Agency (FHFA) announced this November 30, 2021 the new limits of Conforming Loans for mortgages that will be acquired by Fannie Mae and Freddie Mac in 2022. For 1-unit properties there was an increase of $98,950 compared to $548,250 in 2021. New limits for 2022 are:  1-unit $647,200 2-units: $828,700 3-units: […]