In my travels I’ve eaten some unusual foods, although maybe not this unusual, but here in Boise the talk is about how unusual it is that applications and locks have suddenly shot up in the last several business days. It is nice to hear and see the hustle and perseverance from originators pay off some. Taking a look at the big picture, per the U.S. Census Bureau, nearly 40 percent of all homeowners own their homes free and clear, or 33.4 million mortgage-free, single-family homes and condos. And some percentage of those have credit card debt that is 25 or 30 percent, so a tax-deductible loan at 7 percent can be pretty attractive. Sure enough, refis are hitting the numbers: as reported last month, 89 percent of people with mortgages have an interest rate below 6 percent, down from a record 93 percent in 2022. (Today’s Commentary podcast can be found here and this week’s is sponsored by Lender Toolkit and its AI-powered AI Underwriter and Prism borrower income automat
Gold prices languished near their
lowest level in nearly two weeks on Tuesday, weighed down by a
firm dollar and elevated Treasury yields, as traders tempered
expectations that the U.S. Federal. -February 05, 2024 at 09:50 pm EST
- MarketScreener
The Ohio Democrat, who’s facing a tough reelection campaign that could determine control of the Senate, holds the digital asset industry’s fate in his hands at the moment.
Two Fed officials warned Tuesday that interest rates will likely stay high for a long time. Atlanta Fed President Raphael Bostic said Tuesday that he’s…
Gold prices steadied near two-week
highs on Friday and was headed for their best week in six as
U.S. Treasury yields backed off highs ahead of speeches by top
central bankers including Fed Chair. -Today at 09:46 pm- MarketScreener