Mortgage Rates & Trends

Every day our mortgage consultants face questions from new customers about the nature of the mortgage business and TMS's place in it. Inevitably, in one of our initial conversations with new (and even repeat) customers we are asked the same couple of questions: "Are you a Mortgage Broker or a Ban...

The bad news is stocks are tumbling today due to retail sales slumping in July and consumer confidence levels are falling lower when they were expecting consumer confidence ratings to increase. The good news is current mortgage rates dropped a little yesterday.  Today the interest rates dropped a...

Americans like their things super sized. Whether it be a visit to a fast food restaurant for lunch, the car they drive or the home they live in, Americans like things big. However, the American dream of homeownership is getting smaller. Nationwide, builders are drastically reducing the size of th...

Can I qualify for the first-time homebuyer tax credit? Thanks to the $787 billion American Recovery and Reinvestment Act, first-time homebuyers now qualify for a tax credit of up to $8,000 from the federal government to help them to secure their first home. Unlike the 2008 tax credit of $7,500 t...

What are the pros and cons of mortgage refinancing? Whether you are interested in lowering your monthly mortgage payment, want to tap into the equity in your home, or simply consolidate your debt, refinancing your mortgage loan provides the financial flexibility to meet your needs. Refinancing t...

With the increase in mortgage fraud, brokers are about to face some stricter regulations. At least this is the plan in one southern state. Florida Governor Charlie Crist is taking drastic steps to prevent mortgage fraud and will likely sign legislation that would require, among other things, crim...

Mortgage applications slipped last week as mortgage rates jumped. According to the Washington-based Mortgage Bankers Association (MBA), the average interest rate on a 30-year fixed rate mortgage rose to 5.38, up from 5.17 the week prior. The decrease in mortgage applications is approximately 3.5%...

The Senate recently passed a bill that will help fight mortgage fraud over the next few years. With all the activity going on now, it's easy for mortgage fraud to go overlooked or unnoticed. Low mortgage rates have sparked a new refi-boom and along with that, mortgage fraud has been on the rise, ...

Over the past few months, Fixed Income markets have remained in a state of flux as traders attempt to assess an ever-weakening economy, 20 year lows in equity prices, and massive supply from fiscal stimulus.  The net effect of these forces have held 10 year treasury yields in a relatively tight ...

Since early last week, mortgage rates leaped from around 5% to approximately 5.5%, steadily moving toward 6%. Even though the 10-year Treasury rate is back down today, it is certainly not down enough to make up for the huge jump it made last week. As the 10-year Treasury eventually makes its way ...