Industry NewsMortgage

Real estate rates sink to 6-month low

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Freddie Mac on Thursday announced a new six-month low for mortgages, 5.64 percent plus .7 percent fee, and the news was true when Freddie took its survey early this week. The world has since moved on. A modest decline in oil prices on Wednesday caused the 10-year T-note to depart the 3.98-3.99 percent range for a test of the 4.11 percent recent top, but everything has settled down today. Oil is $51/bbl, the Dow is stuck at ten grand, and the 10-year is 4.05 percent, which is holding mortgages near 5.75 percent – all while the world waits for several shoes to drop. First among the footwear: that election thing. Contrary to widespread opinion, I bet we will know the winner within a half-hour after the California polls close and the networks release exit polling from eastern and central time zones. A further bet: rather fewer judges will be interested in pleadings to intervene in irregularities real and imagined. A sure thing: the identity of the winner won't move the financial ma...