Costco is known for their excellent products and prices but what about their new mortgage service? Costco has partnered with several lenders and make use of a real time pricing engine powered by Nylx to deliver real time quotes. The pitch is that the lender fee will not cost over $600. Does Costco have the [...]

Choicelend.com – Yesterday the 10 yr note closed above its 20 day average for the first time since April 15th, although it is up some this morning it hasn’t been able to push back below its 20 day on the yield chart. The 9 day relative strength index is back above 50 on the 10 [...]

Choicelend.com – News China continues to slow down hit the stock market hard sending investors into the safety of treasuries helping to improve mortgage rates. Spain was downgraded (again), Libya continues it’s civil war and our own citizens continue to struggle in finding jobs. This pullback will test our lows, great time to lock.

Today, the Treasury will auction $29 billion of 7 yr notes, yesterday’s and Tuesday’s 5 yr and 2 yr auctions were not the best in terms of demand. Some are beginning to question whether foreign investors are backing away from US debt; if today’s 7 yr suffers weaker demand look for that question to gain [...]

Choicelend.com – The turmoil in the Middle East has driven investors into the safety of US Treasuries improving mortgage rates at least temporarily. If you have been sitting on the sidelines waiting for rates to go down this is your chance. We have been saying all along that rates are on an uptrend and will [...]

Choicelend.com – We have seen rates increase steadily for the past few months with a few minor pullbacks. Markets are technically a bit oversold and we may see that pullback today. We still hold to the belief rates will head upward therefore any improvement should be used to lock a better rate. No time to [...]

Choicelend.com – The GSEs announced they will soon be using “risk based pricing”. What this means is for example, if your Fico score is less than 740 and you are putting less than 25% downpayment, Fannie and Freddie will assess you a penalty fee. Different “tiers” of risk (fees) for even lower scores will also [...]

Choicelend.com – We are forecasting the 30 year fixed mortgage rate up to 5.5% in 2011. The media and financial analyst gurus are creating the frenzy. It’s their job to fan the flames, it’s how they make their money. Big money will flee from safety into equities and other investment instruments. People hoping for a [...]

Mortgage Rates improved as investors looked for some safety. If you are considering a refinance pulling the trigger on the lower rates resulting from the 9.8% unemployment report may be your opportunity. A Huge miss on estimates from analysts and economists on the unemployment data has the market digesting our current state of affairs. A [...]

“I was working with another lender and we lost our lock”. We normally receive these type of calls several time a week. I suppose with the sudden increase in mortgage rates we will be swamped by people who were told the rate they thought they had was “lost”. The truth is that a good percentage [...]