Today, the Federal Reserve cut the overnight interest rate by 0.5% the first time since 2020 as inflation trends move closer to the Fed’s target, signaling a positive shift in the economy.  Mortgage rates had already adjusted prior to this rate cut and have remained relatively steady since, as they are driven by factors beyond

There is some big news this week.  First started with First Republic Bank is sold to JPMorgan Chase Bank on Monday, May 1, 2023.  First Republic was funded in 1985 and the 2nd largest U.S. bank by assets to breakdown after Washington Mutual which was also took over by JPMorgan Chase Bank.  Fed increased the

Recent news of Silicon Valley Bank and Signature Bank collapse has caused investors questioning the US economy.  Fed increased the overnight fund rate for another 0.25% on March 22, 2023 which marks the highest point since September 2007.  Here is the complete press release from Federal Reserve.  Federal Reserve Board – Federal Reserve issues FOMC

Awesome news!! Borrowers would like to utilize FHA(Federal Housing Administration) loans to purchase homes or refinance their current loans. HUD made an announcement on Feb 22, 2023, the Annual Mortgage Insurance Premium (MIP) will be cut by 0.3% from 0.85% on the loans endorsed on and after March 20, 2023.   The annual MIP will depend

Fed rates increased another 0.25% moving the overnight Fed Fund rate to 4.5% – 4.75%, the highest since October 2007.  The marks the 8th increase since March 2022.  For many homeowners who have a home equity line of credit loan, you will see a monthly interest payment increase as the Prime Rate is now at 7.75%, comparing with