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TODAY’S MORTGAGE RATES

Mortgage Rates improved by about
.06% over the past 7 days despite
the Mortgage Backed Security (MBS)
market trading down – 9 bps.

Here are your Average Mortgage Rates
across the country according to
Mortgage News Daily.

As the Government shutdown is about
to enter it’s 3^rd week, most economic
reports that impact mortgage interest
rates are not being released.

It appears that the Consumer Price
Index (CPI) inflation report will be
released as it’s needed to calculate
updates to Social Security.

There are a lot of characteristics that
go into a mortgage rate – credit score,
investor, loan to value, loan amount,
costs, etc. Please call me to go over
your specific scenario so we can
price your loan out accurately.

WHY OCTOBER IS THE BEST
TIME TO BUY A HOME

October is generally considered the sweet
spot to buy a home in most Real Estate
markets. It’s considered this because
the season produces the most
buyer-friendly conditions.

-More Homes to Choose From
-Less Competition from Buyers
-Better Home Prices
-Sellers Who are More Willing to Negotiate

Many buyers put their search on hold
as we move into the Holiday Season.
Many sellers are trying to sell before the
Holiday Season and the 1^st of the Year.

This means that home buyers making
offers face the ideal conditions to get
the best deal on a home purchase.

COULD THE GOV’T SHUTDOWN
DELAY MORTGAGES

The White House recently announced they
are resuming large scale layoffs as the
Government shutdown moves on. These
potential permanent staff reductions could
affect the timing of Federal Agency loans.

We could see longer turnaround times
to close FHA, VA, and USDA loans.

Mortgage underwriting also relies on IRS
transcripts to confirm income and potential
longer turn times could affect final
clear to close timelines.

Hope you have a fantastic week!!