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 – At 8:15 ADP May private jobs report hit hard; the consensus estimate was for an increase of 175K jobs, the reality hit like a ton of bricks- job growth according to ADP was up just 38K. Hard to ignore the reality that jobs aren’t recovering. This sends money into US treasuries giving us [...]

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 [...]

One of the biggest jump in interest rates seen this year. China reported manufacturing improved last month which was a surprise to the markets coupled by a better than expected jobs report has worsened mortgage rates. For those hoping mortgage rates would go down shame on you. I have been advising my clients to pull [...]