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...
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...
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...
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...
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...
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...
