Mortgage News

The Markets in a Minute - December 2

For the Week Ending December 2, 2016  Globally bonds suffered their worst monthly meltdown in November, driving up yields. The sell-off in bonds carried over to push mortgage rates higher. Oil prices have rallied to a 6-week high after OPEC agreed on a deal to cut production. Increased oil prices can spark inflation, which is bad for rates. Although jobless claims were slightly higher than expected this week, layoffs were low. Overall the economy is showing signs of heating up moving into 2017. On average, home prices nationally increased 5.5% from the previous month. ...

December 2nd, 2016 The Markets in a Minute - December 2

Tidewater Home Funding Opens Office in Great Bridge

Tidewater Home Funding announces the opening of a new 967 sq ft office at 115 Bruton Court in the Great Bridge area of Chesapeake, Virginia.  The Great Bridge office is managed by Ken Kolodziej.  Kolodziej is an industry veteran with over 40 years of mortgage lending experience in the Hampton Roads community.  Kolodziej is joined by Senior Underwriter/Loan Processor Cindy Cousineau, Senior Loan Officer Deb Olmstead, Loan Officer Colby Raymond, and Office Administrator Lexi Goodwin.Tidewater Home Funding provides residential mortgage products and services to the residents of Virg...

November 30th, 2016 Tidewater Home Funding Opens Office in Great Bridge

The Markets in a Minute - November 18

For the Week Ending November 18, 2016   Mortgage rates rose as markets prepare for expected economic growth and anticipated inflation under the Trump administration. Inflation can bring higher rates. Fed Chair Janet Yellen's comments this week support the idea of a Fed policy rate hike in December. Economists almost unanimously agree a hike is coming. Also supporting a possible Fed policy rate hike, the labor market continues to show strength, and consumer prices recorded their biggest increase in 6 months.  New housing starts surged to a 9+-year high in ...

November 18th, 2016 The Markets in a Minute - November 18

The Markets in a Minute - November 11

For the Week Ending November 11, 2016    Markets worldwide reacted to Trump's victory, causing mortgage rates to rise. The reaction was to his proposed economic policies, not his political agenda. Initially markets were expected to react negatively to Trump's win. Instead stocks rallied and bond yields skyrocketed on early belief that inflation will follow. The Fed is now overwhelmingly expected to raise policy rates at their December meeting. However, the Fed's decisions have not failed to surprise in the past.  Speculation abounds on the ef...

November 11th, 2016 The Markets in a Minute - November 11

The Markets in a Minute - November 4

For the Week Ending November 4, 2016  The Fed voted not to raise policy rates at this week's meeting, but did signal that they may raise rates at December's meeting if economic improvement continues. Jobless claims were up slightly, but layoffs were at a 5-month low. A strong non-farm payroll report could fuel speculation that the Fed will raise rates in December. Consumer spending is up and factory orders rose for the 3rd straight month. As the economy heats up, inflation could become an issue and bring higher rates. Although construction spending was down sli...

November 4th, 2016 The Markets in a Minute - November 4

The Markets in a Minute - October 28

For the Week Ending October 28, 2016  Although business spending is a bit tepid, the economy continues to show signs of improvement. Growth estimates for the third quarter are as high as 3.3%. The Fed meets next week and on Wednesday will announce if there will be a policy rate increase. Most economists think the Fed will wait until December to hike. If the Fed does make it clear that they plan to raise policy rates in December, markets will likely price that move in immediately, and mortgage rates may rise. Case-Shiller reports that home prices rose 5.3% in August ove...

October 28th, 2016 The Markets in a Minute - October 28