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VA Loan: A Complete Guide
A VA loan is a type of mortgage loan available to veterans, service members, and eligible surviving spouses. It is a government-backed loan that is issued by private lenders but is guaranteed by the Department of Veterans Affairs (VA). The VA loan program was created...
The Debt Ceiling and Mortgage Rates
Sovereign Lending Group prides ourselves on our service, reputation, and product line up. But that doesn’t mean, of course, that we don’t keep our eye on offering competitive pricing, mortgage rates, and the economy in general. Overall mortgage rates were down last...
Where do Mortgage Rates Come From
Sovereign Lending Group’s borrowers often wonder how mortgage rates are derived, and how prices are determined. There are two basic sets of rate and price determinants that our clients should be aware of which may clear up some of the confusion. The first set of...
Inflation and the Fed and Mortgage Rates
Sovereign Lending Group’s clients see in the press a lot about “soft landings” or “hard landings” when it comes to the impact on the economy from the Federal Reserve’s actions. This impacts mortgage rates, of course, since a hard landing would foster a recession and...
Big News Last Week
There was quite a bit of news last weeks that impacts mortgage rates, either directly or indirectly. Without much fanfare, let’s jump in for Sovereign Lending Group’s clients and review what happened, and why. The Federal Reserve, the bond market, and therefore...
Families Still Need a Place to Live
All of Sovereign Lending Group’s clients know that rates have moved higher. Much higher. Average 30-year fixed-rates are firmly around the 7.5 percent mark (up 3.88% on a year-to-year basis and the high 2 percent range from a few years ago). And Sovereign’s clients...
Employment is in the Headlines
Housing and jobs drive the economy in the United States, and Sovereign Lending Group’s clients should know that July’s job’s data sure turned some heads, and certainly suggesting that we’re not in a recession. Nonfarm payrolls increased by 528k in July. What do rates...
Mortgage Rate Pressure
Sovereign Lending Group Mortgage Rate Pressure Sovereign Lending Group’s loan officers like to remind our clients that mortgage rates are not controlled by the Federal Reserve or any specific entity. The vast majority of mortgages are bundled by Sovereign and other...
Mortgage Rates and the 10-Year Yield
Mortgage Rates and the 10-Year YieldSovereign Lending Group (SLG) and our clients have observed the fast rise in mortgage rates in 2022 with alarm, as has the rest of our industry. Treasury yields have gone up as well, leading some to ask, “What is the link between...
Rates… Trending Higher?
Rates… Trending Higher?As we travel through February, the pandemic headlines that have moved interest rates for nearly two years have nearly vanished. But they’ve been replaced by news items such a possible Russian invasion of Ukraine leading to a spike in near-term...