Mortgage News

The Markets in a Minute - December 23

For the Week Ending December 23, 2016   The third quarter showed strong economic growth and an increased GDP. As the economy continues to heat up, interest rates will be pressured to rise. Jobless claims were slightly higher this week than expected, but still below 300,000. The strong labor market could contribute to higher rates in 2017. Trading volumes are down as traders take off for the holidays, which could cause volatility. Markets will be closed or close early 4 of the next 7 trading days. Rising mortgage rates haven't slowed down the market, as purchas...

December 23rd, 2016 The Markets in a Minute - December 23

Tidewater Home Funding Holiday Closings

Thank you all for a wonderful 2016, and here's to a great 2017!

December 22nd, 2016 Tidewater Home Funding Holiday Closings

The Markets in a Minute - December 16

For the Week Ending December 16, 2016   As expected, the Fed raised policy rates 0.25% at this month's FOMC meeting. Bond yields jumped on the news, pressuring mortgage rates higher.  The U.S. dollar is at the highest level since 2003, and stocks continue to hit all-time highs. Strong economic activity contributes to mortgage rates increasing. The Fed is expected to continue to raise policy rates in 2017, possibly up to three times. Rising inflation and a tightening job market support this speculation. Rising mortgage rates aren't dampening builders&#...

December 16th, 2016 The Markets in a Minute - December 16

The Markets in a Minute - December 9

For the Week Ending December 9, 2016   Stock markets continue to hit new highs on expectations that the Trump administration will bring economic growth, which has contributed to rate volatility. The ECB has decided to extend overseas bond purchases, but at a lesser amount starting in April. The ECB stimulus is supportive of lower mortgage rates. The Fed meets next week and is 100% expected to raise policy rates. Markets will look for guidance on future action, and reactions could cause more rate volatility. Politics even trickle into the housing market. After the ...

December 9th, 2016 The Markets in a Minute - December 9

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