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New American Funding, a national mortgage banker, has been named a winner in nine categories for the 15 Read More

Grand Opening Marks Fifth Illinois Location for National Mortgage Banker

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Do you offer your clients an annual loan review after their mortgages close? Now would be a good time to start. Read More

There are many considerations when deciding between renting and buying. Renting may seem like the cheaper option, but that may not necessarily be the case once you look at your possible deductions. Read More

Even with current rate trends, refinancing remains an attractive option for many clients. Read More

Moving during childhood is something many of us did as kids. Whether a move is to a bigger home or a school district with more resources or related to a parent’s career or a change in marital status, it can be challenging for children. Read More

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MBS RECAP: Markets Had ECB Almost Perfectly Pegged

Posted To: MBS Commentary

Talk about your anticlimactic conclusions! It's not that the European Central Bank (ECB) was likely to make any meaningful changes in its policy stance today, but it nonetheless served as an important opportunity to confirm or deny the notion that Draghi's late June comments were a step in the direction of a tapering announcement--perhaps later this year. Draghi essentially denied it--saying they hadn't even discussed the September meeting as a tapering announcement target, nor had they discussed it at all. That may or may not be factual. Certainly, we've seen newswires that suggest quite the opposite, such as this one from July 13th that did noticeable damage to bond markets: ECB COULD ANNOUNCE PLANS TO WIND DOWN QE AT ITS SEPT. 7 POLICY MEETING--ECB OFFICIALS Technically though...(read more)

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Mortgage Rates Hold 3-Week Lows After Central Bank Announcements

Posted To: Mortgage Rate Watch

Mortgage rates held relatively steady today, keeping them in line with the lowest levels in more than 3 weeks. There was relatively little market movement in response to the policy announcement from the European Central Bank (ECB). That's a good thing considering much of the recent gains in rates can be attributed to traders growing more optimistic about the ECB's stance. To put all this in plain English , the ECB buys bonds. This puts downward pressure on rates around the world (more so in Europe than in the US, but we still get some indirect benefit). There was some concern at the end of June that the ECB was getting closer to announcing it would buy fewer bonds. While that day will likely come eventually, today's announcement assures markets that it hasn't been discussed yet. The relatively...(read more)

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