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New American Funding Win Twice in NerdWallet's 2019 Best-Of Awards In NerdWallet’s annual Best-Of Awards program, which highlights the top financial companies and products nationwide, the personal finance website has named New American Funding as a 2019 two-time winner. The mortgage-industry leader has scored one of the awards in the category of Best Mortgage Lender for Purchase Loans and Best Mortgage Lender for FHA Loans. Read More
Determining when to buy a home is a personal decision with many variables. Some may try to pinpoint the "perfect time" and end up waiting themselves out of the market, while prices and interest rates rise. Read More

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MBS RECAP: Fed Proves Surprisingly Capable of Intraday Inspiration

Posted To: MBS Commentary

We moved from NFP not mattering (and then causing a surprisingly big intraday stir) to the Fed undergoing quite a similar routine. Granted, in the bigger picture, neither event will be memorable or have a lasting impact on rate momentum, but they both came as close as they could. Today's reaction to the Fed was the opposite of the reaction to last week's NFP (a fact that only reinforces NFP "not mattering" since yields have now traded well below pre-NFP levels). I'd argue that today's reaction to the Fed was also a bigger surprise and based on more interesting underlying details. Specifically , Fed Chair Powell's thoughts on inflation were delivered in a slightly newer and more bond-friendly way. He unequivocally said there wouldn't be any rate hikes unless...(read more)

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Mortgage Rates Improve After Fed Announcement

Posted To: Mortgage Rate Watch

Mortgage rates improved today following the Federal Reserve's policy announcement and Fed Chair Powell's press conference. The Fed doesn't set mortgage rates (their policy rate applies to 1-day loans between banks whereas mortgages obviously last a lot longer). But the Fed's monetary policy stance can definitely cause volatility in the broader bond market (which DOES impact mortgages). That was the case today and the impact was positive. Markets correctly assumed that the Fed would neither hike nor cut its policy rate. That wasn't the source of inspiration. Rather, it was comments from Fed Chair Powell during his press conference. Simply put, the Fed is prepared to keep rates lower for longer in an attempt to keep inflation slightly higher than they ultimately want it to be. Their reasoning...(read more)

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