Summit Mortgage Newsletter

Summit Mortgage Newsletter / Update

Please find the latest Mortgage Update from a member of our team: Will Dukes, one of the lenders who we always recommend, as he efficiently gets the job done so as to fully help our Buyers (& Sellers).  (Please compare Will's rates and terms with other lenders; always compare)

We can send you Will's most recent Rate Sheet separately, please email [email protected]  to request it, thanks.

 

10 / 19 / 2018 Update:

 

Good afternoon!  Below (and attached) please find your weekend ratesheet.

 

COMMENTARY: It was another tough week for rates as mortgage investors expressed their disappointment with the minutes from the Fed’s September meeting which was released on Wednesday.  The document showed members of the Federal Open Market Committee are committed to bumping benchmark short-term interest rates higher, up to four more times in 25 basis point increments, between now and the end of 2019. The question thus remains… when is enough enough?  President Trump recently registered his angst with the Fed’s aggressive actions complaining that if they’re not careful, they will undermine the positive economy currently flourishing.  Mortgage investors also registered their displeasure with this strategy by pushing 30-year conforming rates more deeply into the 5% range. 

 

Looking ahead to next week – Uncle Sam will be in the credit markets to conduct a $108 billion three-day debt sale.  As mentioned in prior weeks, as long as the Treasury continues to sell at an accelerated pace to divest itself of the mortgage backed securities it purchased while keeping rates artificially low, it will be difficult for mortgage rates to significantly drop.  The economic calendar is lightly populated.  Things kick-off with Wednesday’s September New Home Sales figures which will be followed on Thursday by the September Durable Goods Orders numbers and finishing off the week will be Friday’s first estimate for Q3 Gross Domestic Product.  There is little chance any one of these reports will exert a noticeable influence on the current trend trajectory of mortgage interest rates.

 

Have a nice weekend!

  

Please always feel free to contact me with your questions or if your clients need to be pre-qualified.  I answer my phone into the evening and on weekends.  Summit Mortgage occupies a unique position as a true Mortgage Lender and I leverage every bit of this advantage to provide outstanding rate/product/service to your valuable clients.

 

Will Dukes

 

William Dukes

Sr. Loan Officer                   

239.272.2241 (direct)

941.981.1530 (FAX)

Please check out the tabs to the other different Updates & Reports.

"We hope that you find the information useful.  If you have any questions, please do not hesitiate to contact Kim or Barry with the Hoey Team, email us at: [email protected]  or [email protected] or Call/Text the Hoey Team at:  (239)-360-5527 

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