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Mortgage News Daily

Mortgage Rates Hit New Long-Term Lows, Then Bounce

Posted To: Mortgage Rate Watch

Mortgage rates plunged today as the bond market extended its positive reaction to yesterday's Fed announcement. The Fed doesn't set mortgage rates, but the market's expectation of Fed rate-setting policy has a major impact. In other words, because the Fed generally confirmed the market's suspicion that rate cuts could be warranted in 2019, traders were willing to push rates even lower than they already had in advance of Fed day. Some lenders had already adjusted rate sheets yesterday afternoon to account for the bond market improvements that were already in place. In those cases, the surge to lower rates wasn't quite as epic. But for lenders who kept the same rates intact all day yesterday, there was a huge shift this morning, with the average lender improving by an entire eighth of a percent...(read more)

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Delinquency Rates Down Overall, but Larger Cities Feel More Pressure

Posted To: MND NewsWire

While the nations delinquency rate declined in March, to 4.0 percent from 4.3 percent a year earlier, CoreLogic notes that 21 states and 166 of the largest metropolitan areas experienced small increases in delinquencies on an annual basis. The delinquency rate includes all home loans that are 30 days or more past due, including those in foreclosure. The share of mortgages that were 30 to 59 days past due - considered early-stage delinquencies - was 2% in March 2019, up from 1.8% in March 2018. The March numbers continue a year-long trend i n which the overall delinquency rate each month has been lower than during the 4.7 percent average during the pre-crisis period of 2000 through 2006. Delinquencies tend to be seasonal, and the highest March rate was in 2010 at 11.1 percent. Other measures...(read more)

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Google Commits $1 Billion to Bay Area Housing

Posted To: MND NewsWire

If the rumors about housing in Silicon Valley are true, it is probably hard to recruit new employees if they fear they will have to live in an RV in WalMart's parking lot. Such a situation may have prompted Google to announce a $1 billion commitment to help provide more affordable housing in its backyard. Google CEO Sundar Pichai announced the investment in a blog post on Tuesday, saying it is the company's responsibility to be a good neighbor in the area where it originated 20 years ago and where it is one of the largest employers. Across the region, he said, "One issue stands out as particularly urgent and complex: housing. The lack of new supply, combined with the rising cost of living, has resulted in a severe shortage of affordable housing options for long-time middle and low income residents...(read more)

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Barbara Jenkins
Loganville, GA 30052

Direct: 678-639-0700
Mobile/Text: 404-401-0569

Solid Source Realty
Corporate office
10900 Crabapple Road, Roswell GA 30019
Office: 770-475-1130 Ext 4769

Email: barbara@thehouseofsold.com

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