Mortgage Manifest

Fickle FICO - What's a Credit Score?

2019-06-09T11:37:00.004-04:00

Back in 1956, and engineer, William Fair, and a mathematician, Earl Isaac created the Fair Isaac Company to sell data analytics to businesses. Two years later, they created a credit scoring system. This is the birth of FICO. Starting in 1989, FICO became a numerical score with a range between 300 to 850. Lenders use this score to assess creditworthiness. Essentially what a credit score attempts

Fed Chair Powell Sings Guns N Roses

2019-06-09T11:33:00.000-04:00

"All we need is just a little patience"...Patience by Guns N' Roses The highlight of this past week was the Fed Minutes from

Rates are Going Down!

2019-02-21T16:15:00.002-05:00

http://www.freddiemac.com/pmms/ Mortgage rates continued to decline this week and are at 12-month lows falling for the third consecutive week. Freddie Mac reports that the 30-year fixed-rate mortgage fell two basis points to 4.35% with an average of 0.5 in points and fees. Last year this time, the rate was 4.40%. Sam Khater, Freddie Mac’s chief economist says, "Wages are growing on par with

Why Retail Sales hitting a 9-year low could be bad

2019-02-21T16:13:00.000-05:00

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What will be the next move for the Fed?

2019-02-15T14:25:00.001-05:00

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Amazon Ditches NYC

2019-02-15T14:18:00.002-05:00

Consumer sentiment pushed higher in early February due in part to the end of the partial government shutdown and after the Federal Reserve signal that it will pause in raising interest rates. The Consumer Sentiment Index rose to 95.5 this month, up from 91.2 in January and above the 94 expected. Within the data, it showed that consumers' long-term inflation expectations fell to the lowest level

Mortgage Application Decline

2019-02-06T17:53:00.002-05:00

The Mortgage Bankers Association (MBA) reports that its Market Composite Index, a measure of total mortgage loan application volume, fell 2.5% in the week ended February 1, 2019. The MBA said the refinance index was near unchanged while the purchase index declined 5%. Mortgage rates edged lower in the latest week to the lowest levels since April 2018. The 30-year fixed-rate mortgage fell seven

The Fed throws a party for Stocks and Bonds

2019-02-06T17:50:00.002-05:00

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🔺 New Homes Sales are Up 🔺

2019-01-31T12:45:00.002-05:00

The partial government shutdown ended last Friday so the delay of sales of newly built homes for November was reported today with a big number. November New Homes Sales jumped 17% from October to an annual rate of 657,000 units, well above the 555,000 expected. However, sales were down 7.7% from November 2017. Across the country, sales jumped 100% in the Northeast, up 30.5% in the Midwest,

Job Numbers Remain Strong

2019-01-30T15:47:00.000-05:00

ADP National Employment Report January 2019 The labor market continues to produce strong numbers while the U.S. economy remains on solid ground. ADP reports that private employment grew by 213,000 in January, well above the 170,000 expected. December was revised lower to 263,000 from 271,000 and also a strong number. “The labor market has continued its pattern of strong growth with little

Home Price Gains Slow Amid Lower Consumer Confidence

2019-01-29T19:25:00.001-05:00

Home price gains slowed in November and are now coming back down to more normal levels. The Case-Shiller 20-City Home Price Index rose 4.7% from November 2017 to November 2018, down from 5% in October. On a monthly basis, the 20-City Index rose 0.3%. The report read that stable 2% inflation, continued employment growth and rising wages are all favorable to the housing market ahead of the spring

Finally Open Again

2019-01-28T13:21:00.000-05:00

Partial Government Shutdown / Cropped Photo: Bjoertvedt / Wikimedia / CC BY-SA 3.0 / (MGN) This week the U.S. financial markets will get a big dose of economic data along with a central bank meeting. The week features the two-day Fed meeting which kicks off on Tuesday and ends Wednesday with the monetary policy statement release at 2:00 p.m. ET. There is a zero percent chance of a hike at

Calm before the Storm for Financial Markets

2019-01-28T12:12:00.001-05:00

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Home Prices Rise Year Over Year

2019-01-25T13:00:00.000-05:00

Modest Increase in Aggregate Home Prices Zillow reports that median home prices rose 7.6% year-over-year in December 2018, to $223,900, just above the 7.4% recorded in December 2017. Rents increased at an annual pace of 1.4%, the largest increase since June 2018. When looking more closely at local conditions in the country's biggest markets revealed a sometimes-notable slowdown in a

The trend continues as we honor MLK

2019-01-21T11:56:00.000-05:00

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When the trend is no longer your friend

2019-01-14T13:06:00.003-05:00

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A bad Apple helps home loan rates

2019-01-14T13:03:00.003-05:00

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Be Bold, Be Charismatic, Do Your Homework

2019-01-07T11:40:00.000-05:00

Follow Me On: Jeffrey Loyd NMLS #:410097Mortgage Loan OfficerPhone: +1 212 243-0373Fax +1 347 686-6406 jloyd@unfcu.com www.unfcu.org/JeffreyL Be Bold, Be Charismatic, Do Your Homework Bold - 212 Charisma & Small Talk Tips to Engage

Happy New Year

2019-01-02T22:23:00.001-05:00

Wishing you a new year that sparkles and shines!

Bonds Partying Like it's 2019

2019-01-02T22:18:00.001-05:00

Jeffrey Loyd Mortgage Loan Officer Phone: +1 212 243-0373 Fax +1 347 686-6406 NMLS #:: 410097 jloyd@unfcu.com www.unfcu.org/JeffreyL

Fed rate hike helps home loan rates improve

2019-01-02T22:17:00.002-05:00

Jeffrey Loyd Mortgage Loan Officer Phone: +1 212 243-0373 Fax +1 347 686-6406 NMLS #:: 410097 jloyd@unfcu.com www.unfcu.org/JeffreyL In This Issue

Bouncing into Fed Week

2018-12-19T11:43:00.003-05:00

Jeffrey Loyd Mortgage Loan Officer Phone: +1 212 243-0373 Fax +1 347 686-6406 NMLS #:: 410097 jloyd@unfcu.com www.unfcu.org/JeffreyL

Be a Fred

2018-12-17T10:54:00.001-05:00

A great read! How To Be A Fred by Thomas Yuschak is a quick read. And well worth it. The concept I wanted to share was how Yuschak defines pressure as different than stress. For me, this was what stuck. "Stress is a physiological response to pressure but it's not the pressure itself. Pressure sets the level of urgency, the level of importance, the level of visibility." We

Santa Clause Rally in Bonds

2018-12-10T10:23:00.001-05:00

Jeffrey Loyd Mortgage Loan Officer Phone: +1 212 243-0373 Fax +1 347 686-6406 NMLS #:: 410097 jloyd@unfcu.com www.unfcu.org/JeffreyL In This Issue Last Week in Review: Summer Rates Return Forecast for the Week: Will History Repeat Itself?

Every Deal Is Precious - Be Sure Your Buyer is Pre-Approved!

2018-11-27T13:19:00.002-05:00

Follow Me On: Jeffrey Loyd NMLS #:410097Mortgage Loan OfficerPhone: +1 212 243-0373Fax +1 347 686-6406 jloyd@unfcu.com www.unfcu.org/JeffreyL Every Deal Is Precious - Be Sure Your Buyer is Pre-Approved! It's a changing market. Buyers