Boston MA mortgage rates

A Guest Post by Brian Cavanaugh of SmarterBorrowing.com.

Inquire within for current Mortgage Rates or Guidelines   bc@SmarterBorrowing.com  617.771.5021

Overall, I am expecting to see some movement in the markets and mortgage rates, especially if we get some surprising results from the week’s data or news about Europe’s financial crisis. Despite the holiday season, we need to keep a cautious approach toward rates because we are likely to see very thin trading (light volume) as a result of many traders keeping short hours or home for the holiday altogether. This means that firms that trade bonds will likely be keeping only a skeleton staff the latter part of the week and raises the possibility of a stronger reaction to surprises in the economic data than we normally would see.

The least important day for mortgage rates will likely be tomorrow unless something drastic happens overnight. We will probably see the most movement in rates Friday, but Thursday’s economic data can also move mortgage pricing noticeably. With the Christmas holiday next weekend, it is being observed next Monday. The bond market will close early this Friday afternoon ahead of the holiday and will reopen next Tuesday morning. Accordingly, proceed cautiously this week if still floating an interest rate and closing by the end of the year.  proceed cautiously this week if still floating an interest rate and closing by the end of the year.

If I were considering financing/refinancing a home, I would….

LOCK if my closing was taking place within 7 days…

LOCK if my closing was taking place between 8 and 20 days…

LOCK if my closing was taking place between 21 and 60 days…

FLOAT if my closing was taking place over 60 days from now…

This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed.





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Brian Cavanaugh of SmarterBorrowing.com is back with his Massachusetts Weekly Mortgage Rate Update. Scroll to the bottom for Brian’s valuable Massachusetts Mortgage Rate Lock Advice!

Inquire within for current Mortgage Rates or Guidelines   bc@SmarterBorrowing.com  617.771.5021

Overall, I am expecting to see a much more active week in the financial markets and mortgage pricing than last week. The most important day of the week is either Tuesday or Friday due to the reports being posted those days and the FOMC meeting scheduled. Please maintain contact with your mortgage professional if you have not locked an interest rate yet because we may see sizable changes to mortgage pricing more than one day this week.

If I were considering financing/refinancing a home, I would….

LOCK if my closing was taking place within 7 days…

LOCK if my closing was taking place between 8 and 20 days…

LOCK if my closing was taking place between 21 and 60 days…

LOCK if my closing was taking place over 60 days from now…

Busy Week Ahead

This week is fairly busy in terms of the number of economic releases and other events scheduled that may influence mortgage rates. There are only four pieces of economic data for us to watch, but three of them are highly important to the markets. In addition to the economic reports, we also have the last FOMC meeting of the year and two important Treasury auctions that are likely to impact bond trading and mortgage pricing. Those events, coupled with the likelihood of further overseas developments from Europe and possibly others, make it highly likely that we will see plenty of movement in the markets and mortgage rates this week.

There is nothing of relevance scheduled for tomorrow. This means we can expect the stock markets to drive bond trading and mortgage rates again. If the major stock indexes open the week with gains tomorrow morning, bonds may move lower, pushing mortgage rates higher. But a weak open in stocks could lead to slightly lower mortgage rates tomorrow. We could also see traders position themselves ahead of the week’s agenda, so even though there is nothing concerning on the calendar, we could see mortgage rates change.

Consumer Price Index Out

The week’s most important economic data comes Friday morning when November’s Consumer Price Index (CPI) is posted. It is similar to Thursday’s Producer Price Index, except it tracks inflationary pressures at the more important consumer level of the economy. Current forecasts call for an increase of 0.1% in the overall index and a 0.1% rise in the core data reading. The core data is watched more closely because it excludes more volatile food and energy prices, giving a more stable reading for analysts to consider. This data is one of the most watched inflation indexes, which is extremely important to long-term securities such as mortgage related bonds. Rising inflation erodes the value of a bond’s future fixed interest payments, making them less appealing to investors. That translates into falling bond prices and rising mortgage rates.

Retail Sales Report

Tuesday has two important events, starting with November’s Retail Sales report. This 8:30 AM ET release will give us a key measurement of consumer spending by tracking sales at retail level establishments. This data is highly important to the markets because consumer spending makes up two-thirds of the U.S. economy. Rapidly rising consumer spending raises the possibility of seeing solid economic growth. Since long-term securities such as mortgage bonds are usually more appealing to investors during weaker economic conditions, a large increase in retail sales will likely drive bond prices lower and mortgage rates higher Tuesday. Current forecasts are calling for an increase of 0.6% in November’s sales.

Last Fed Meeting

The last FOMC meeting of the year will also be held Tuesday, adjourning at 2:15 PM ET. There is not much debate about what the Fed will do at this meeting with no chance of them raising key short-term interest rates. Therefore, the post meeting statement will likely be the sole source of a market reaction. This statement has the potential to have a significant influence on the markets and mortgage rates as investors look for any indication of what and when the Fed may do next. One potential move would be more debt purchases by the Fed. An announcement of another round of quantitative easing (QE3) could help boost bond prices and improve mortgage rates Tuesday afternoon. Besides that, it is believed that there isn’t much more the Fed can do to help boost economic activity.

Treasury Auctions

There are Treasury auctions scheduled for several days this week, but the two important ones are the 10-year Note sale Tuesday and the 30-year Bond sale Wednesday. Tuesday’s auction is the more important of the two and will likely influence mortgage rates more. Results of each sale will be posted at 1:00 PM ET. If they were met with a strong demand from investors, particularly international buyers, we should see afternoon strength in bonds and improvements to mortgage pricing those days. On the other hand, a weak interest in the auctions could lead to upward revisions to mortgage rates during afternoon hours.

Wednesday has little to be concerned with, except for the 30-year Bond auction. November’s Producer Price Index (PPI) will be posted early Thursday morning. It measures inflationary pressures at the producer level of the economy. There are two portions of the index that are used- the overall reading and the core data reading. The core data is the more important of the two because it excludes more volatile food and energy prices. If Thursday’s release reveals stronger than expected readings, indicating that inflationary pressures are rising, the bond market will probably react negatively and drive mortgage rates higher. If we see in-line or weaker than expected numbers, the bond market should respond well and mortgage rates should fall. Current forecasts are showing a 0.2% increase in the overall index and a 0.1% rise in the core data.

Nov. Industrial Production Report

November’s Industrial Production data is also scheduled to be posted Thursday morning, but a little later than the PPI. This report gives us a measurement of manufacturing sector strength by tracking output at U.S. factories, mines and utilities. Analysts are expecting it to show a 0.2% increase in output, indicating modest manufacturing growth. A smaller than expected rise would be good news for bonds, while a stronger reading may result in slightly higher mortgage pricing. However, the PPI release is more important to the markets than this data is.

  • Are you a possible Massachusetts First Time Homebuyer?
  • Do you have a Real Estate client inquiring about current Mortgage Rates?
  • Do you have any Refinancing questions?
  • Should you be thinking about Refinancing out of your ARM (Adjustable Rate Mortgage)?
  • Have your Real Estate clients been Pre Approved?

bc@smarterborrowing.com  617.771.5021

This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.





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Post image for Get Out! A Landlord’s Guide to Massachusetts Evictions

Massachusetts Summary Process Evictions: An Unlevel Playing Field For Landlords

In Massachusetts, evictions are called “summary process.” According to the rules governing eviction cases, summary process is supposed to be “just, speedy, and inexpensive.” In practice, however, summary process can be anything but that. In fact, as I always inform my landlord clients, Massachusetts is one of the most tenant friendly states in the country, and an eviction can be costly, frustrating and unfair to landlords. In some cases, it can take many months to evict a tenant.

Further, Massachusetts eviction practice is loaded with traps for the unwary and procedural complexities for landlords. Landlords who represent themselves do so at their own peril and will often arrive at court with their cases dismissed for not following these requirements. It’s not a do-it-yourself situation.

Grounds For Eviction

A.      Non-payment

There are several common grounds for evicting a tenant. The most common is for non-payment of rent. In these cases, the landlord must send the tenant a statutory 14 day “notice to quit” before starting the eviction process. The notice to quit must be drafted carefully, and the best practice is to have it served by a constable or sheriff to ensure proof of delivery. The landlord must prove in court that the tenant received the notice, and service by constable or sheriff will automatically qualify as “good service.” Certified mail is not good enough as tenants can avoid pickup.

B.      No-Fault

Another common ground for eviction is for termination of a 30 day tenancy at will, otherwise known as a no-fault eviction. Again, a 30 day notice to quit must be served on the tenant before commencing an eviction. Landlords often trip up on this type of notice with short months. In practice, judges will often give tenants in no-fault evictions a bit more leeway in terms of vacating the premises.

C.      For cause

“For cause” evictions encompass the range of bad behavior by tenants in violation of lease provisions. It could be illegal activity, drug use, excessive noise, uncleanliness, harassment of other residents, non-approved “roommates” and the like. Like all other evictions, the landlord must issue a notice to quit to the tenant stating the specifics of the offenses. “For cause” evictions are the most involved of all evictions as the landlord must offer proof by way of live testimony of the tenant’s violations of the lease. Getting police officers to show up for an eviction hearing can be challenging. For drugs and other illegal activity, Massachusetts also has a special expedited eviction process.

Going to Court

Starting an eviction requires the preparation and service of a Summary Process Summons and Complaint. You can choose to file your case in the local District Court or the Housing Court which is specialized to hear evictions. The Housing Court fees are less expensive, but can be busier. Some Housing Court judges have the reputation of being tenant or landlord friendly as well. Some would probably be happier retired and playing golf. It’s a tough job these days.

The summary process summons and complaint form is complicated to the layperson. It must be first served by a constable or sheriff on the tenant. Then, no less than 7 days after, it must be filed with the court by the “entry date,” which is always a Monday. The hearings are almost always on Thursday morning. Again, it’s best to have an experienced Massachusetts eviction attorney handle the legal paperwork.

This can be the start of frustration for the landlord, as the tenant has a right to file “discovery” – formal requests for information and documents – from the landlord, which will automatically delay the hearing for two weeks. The tenant also may assert defenses and counterclaims against the landlord. These can range from improper notice or service, unsanitary conditions, no heat/hot water, failure to make repairs, retaliation, discrimination, and violations of the security deposit law—which carries triple damages and attorneys’ fees. (See my prior post on security deposits). Regardless of the merits of such claims, these defenses and counterclaims make the eviction process more complicated, time-consuming, and expensive.

Agreements for Judgment and Mediation

Eviction sessions are very busy. In some courts, there are over 100 cases stacked up on any one day and only one judge to hear them all. Accordingly, the courts will encourage parties to work out their differences on their own through mediation which is an informal sit-down between the parties to discuss ways to resolve the case. Some courts have housing specialists who can preside over the mediation session. Mediation is always non-binding so if no agreement can be reached you can proceed to a trial.

In the Housing Court, there are trained housing specialists who facilitate the mediation process. There are many advantages for landlords to mediation and I almost always recommend giving it a try. The end result of a mediation is for the parties to sign an agreement for judgment. In a non-payment case, you can structure a payment plan and/or voluntary move-out. For a “cause” eviction, you can provide for a “last chance” agreement or move-out. The major benefit for landlords is that an agreement for judgment becomes a binding court order and the judge is supposed to enforce it upon proof of a violation. It also shows the judge that the landlord has been reasonable and accommodating. Experienced Massachusetts eviction attorneys will also make the tenants waive their rights to appeal and right to delay the case any further so as to avoid last minute requests for more time to vacate.

I could write several more chapters about Massachusetts evictions, but I’ll save my material for later posts. Check back in a few weeks for more information.

__________________________________

Richard D. Vetstein, Esq. is an experienced Massachusetts summary process & eviction attorney who has handled over 500 eviction cases.





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Massachusetts mortgage rates November 16, 2010

Mortgage Guy Brian Cav has been riding the Massachusetts mortgage rate roller coaster this week! Seems like the Fed’s new Quantitative Easing II policy has got the market jumping all over the place. Well, here’s the lowdown from BC:

Brian Cav

Wow, I am at a lack of words for what has happened over the past week with Mortgage Rates. Rates have changed up to 5 times per day since last Wednesday. We are just now starting to see some stabilization after a week of bad mortgage market losses.

Most Lenders are offering 4.25% with 1 point of origination for a 30 year fixed with standard costs. The same can be said at 3.75% for a 15 year fixed. You must have a 740 FICO credit score or better and enough equity in your home to refinance or standard down payment requirements on a purchase. Jumbo 30 year and 15 year fixed along with 5/1 ARMs are very near all-time lows as of today. Jumbo Mortgage financing requires a 80% loan to value or a 20% down payment on purchases.

Inquire within for current Mortgage Rates or guidelines at bc@SmarterBorrowing.com 617.771.5021

Economic Data

Wednesday’s bond market has opened in positive territory following the release of favorable economic data and a relatively flat open in stocks. The stock markets don’t appear ready to rebound from yesterday’s selling with the Dow up and the Nasdaq up. The bond market is currently up 5/32, which with yesterday’s afternoon strength should improve this morning’s mortgage rates by approximately .25  of a discount point over yesterday’s morning pricing.

There were two reports posted this morning. The first was October’s Consumer Price Index (CPI) that showed weaker than expected inflation readings. The Labor Department said that the overall CPI reading rose 0.2% and that the core data was unchanged from September’s level. Both of these readings were just shy of forecasts, meaning inflationary pressures were not as strong at the consumer level of the economy as many had thought. That is good news for the bond market and mortgage rates, but did not come as too much of a surprise after yesterday’s PPI numbers.

The Commerce Department gave us today’s second piece of data. They announced that construction starts of new homes fell 11.7% last month, falling to their lowest level in the past year and a half. This is favorable data for the bond market and mortgage rates since it indicates housing sector weakness. Unfortunately, the data is not considered to be highly important, preventing it from influencing this morning’s mortgage rates by much.

The final monthly report of the week will come from the Conference Board late tomorrow morning when they release their Leading Economic Indicators (LEI) for October. This is a moderately important report that attempts to predict economic activity over the next three to six months. It is expected to show a 0.6% increase, meaning economic activity will rise fairly rapidly over the next couple of months. Generally speaking, this would be bad news for bonds. However, since this data is considered only moderately important, its results need to vary by a wide margin from forecasts for it to affect mortgage rates.

Also tomorrow, the Labor Department will give us last week’s unemployment figures. They are expected to announce that 442,000 new claims for unemployment benefits were filed last week. This would be an increase from the previous week and considered good news for the bond market. However, since this is only a week’s worth of new claims data, its impact on tomorrow’s mortgage rates will likely be minimal. The larger the number of new claims filed, the better the news for the bond market and rates.

FLOAT or  LOCK

If I was closing on a Home Mortgage in the next 0 to 15 Days – FLOAT

If I was closing on a Home Mortgage in the next 15 to 30 Days - FLOAT

If I was closing on a Home Mortgage in the next 30 to 60 Days – FLOAT

If I was closing on a Home Mortgage in the next 60+ FLOAT

This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

  • Are you a possible Massachusetts First Time Home Buyer?
  • Do you have a Real Estate client inquiring about current Mortgage Rates?
  • Do you have any Refinancing questions?
  • Should you be thinking about Refinancing out of your ARM (Adjustable Rate Mortgage)?
  • Have your Real Estate clients been Pre Approved?

bc@SmarterBorrowing.com 617.771.5021





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Federal Reserve QE 2 II Policy

We welcome for the first time, guest blogger Ricardo Brasil. Ricardo is a Vice President at one of America’s largest Banks, and is recognized as one of the top mortgage originators nationally. For more info, go to his website at www.ricardobrasil.com or call him directly at (617) 897-5192.

Ricardo Brasil

Quantitative Easing Policy I (QE I): The First Go-Around

Some feel there is a good chance that the FOMC’s planned announcement to purchase U.S. treasury bonds will cause mortgage rates to fall even further. Unlike the Fed’s first quantitative easing (QE I) program, however, borrowers could see a muted (or even negative) response by the time QE2 winds down next June when it comes to rates for home loans.

Mortgage rates improved substantially the last time the Fed carried out its first Quantitative Easing program from December 2008 through March 2010. $1.75 trillion in bonds and mortgage backed securities were purchased during that time and mortgage interest rates dropped by more than 1% over the same period for a 30-year fixed rate mortgage. In 2010 they have fallen further to just over 4% last week with no points.

Quantitative Easing Policy II (QE II): The Here & Now

There are those who argue the Fed’s second attempt at Quantitative Easing, known as QE2 or QEII, is different. Mortgage rates have the QE2 effect ‘baked into the cake’ according to many industry pundits. The goal of this type of Fed action is to lower real interest rates and increase spending in sectors that respond to interest rate changes. This includes home purchases as well as business spending and investment. Quantitative easing could decrease mortgage rates by increasing mortgage backed securities’ liquidity enough that the lower end MBS’s begin to sell. On the contrary, the purpose of quantitative easing ultimately is to stimulate the economy, and if it is successful, over time there should be real indicators of growth that show up in production and employment figure increases. These will surely put pressure on interest rates to rise.

Additionally, the direct impact on the economy of this quantitative easing policy will be a weakening of the US dollar. A weaker dollar in turn should make US products cheaper to foreign countries and cause exports to rise. With a weak dollar imported products of all kinds from clothes to consumer electronics will increase in price because it will take more dollars to buy the same amount of products. The increased cost of imports will drive up retail prices and increase inflation. As a result, inflation will cause home prices to rise and mortgage rates as well. This wouldn’t happen immediately but could be expected in the in the not too distant future. Moderate inflation and job growth are what the Fed is looking for.

Rising production of exported products should generate more profits for domestic companies and those profits should result in increased production and job growth. That in turn will lead to the stock market going up and for those in the mortgage industry who know this all too well, mortgage rates tend to follow the direction of the financial markets. Rates rise when the economy is clicking on all cylinders and equity markets are moving higher.  Rates decrease when the economy and equity markets struggle.

Float or Lock Down? Don’t Fight The Fed

As the cliché goes, don’t fight the Fed. Well, when it comes to mortgage rates, when we know the Fed is trying to stimulate the economy and put off dealing with inflation, I would do away with any floating bias and will be taking advantage of historically low rates for the time being without holding off for lower rates that we may not see.

Mortgage rates are currently hovering at record lows and remain very attractive especially in combination with low home prices. Although there will continue to be fractional fluctuations in rates over the next few months, mortgage rates should be low but range bound for the foreseeable future before being forced higher by inflationary pressures. After rates improved a bit following the Fed’s announcement they have gone up as recent economic news has been quite sanguine especially with the 151,000 jobs added in October. Mortgage bonds have fallen a whopping 143 basis points in the past 5 days and the yield on the 10yr-note has spiked 28 basis points higher.

Ricardo Brasil can be reached at www.ricardobrasil.com or call him directly at (617) 897-5192.





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Mortgage Guy, Brian Cav, is back with his Massachusetts weekly mortgage rate report.

Mortgage Rates hit new lows yesterday. If you have refinanced over the past 2 years there is a 70% chance you can refinance to 0.5% lower in rate and pay NO closing costs. The 30 year fixed mortgage rate has fallen down to the  4.25% to 4.375% range for well-qualified borrowers. Can you say high 3.875%,  30 year fixed rate paying points?!?!  These rates are amazing and may not be down this low again, I would take the safe play and LOCK in your purchase or refinancing application right now. Please call/email it only takes you 5 minutes to LOCK in at today’s new all-time low rates.

Inquire within for current Mortgage Rates or guidelines bc@SmarterBorrowing.com 617.771.5021

Economic Data

Wednesday’s bond market has opened down sharply after this morning’s economic data showed surprising strength. The stock markets are heavily influencing bond trading with significant gains. Stocks have had quite a strong reaction to this morning’s news, pushing the Dow up over 230 points and the Nasdaq up. The bond market is currently down, which will likely push this morning’s mortgage rates higher by approximately .250 of a discount point. Strength in bonds late yesterday is helping to prevent a larger increase to this morning’s rates.

Today’s news came from the Institute for Supply Management (ISM), who released their manufacturing index for August late this morning. They announced a reading of 56.3 that was not only well above forecasts, but also an increase from July’s reading. This means that manufacturer sentiment about business conditions was much stronger than analysts had expected. When this happens, bonds tend to move lower and stocks higher as it is a sign of economic strength.

Yesterday afternoon’s release of the minutes from the last FOMC meeting didn’t reveal any significant surprises, but did indicate that the Fed is considering, or at least willing to invest more funds into mortgage-related securities. That can be considered good news for bonds and mortgage rates since the additional buying should drive mortgage pricing lower. However, it is just a thought at this time and cannot be given much weight until the Fed does decide to pursue that route.

There are two reports scheduled for release tomorrow morning that have the potential to influence rates. The first is the revised 2nd Quarter Productivity numbers, which measures employee productivity in the workplace. Strong levels of productivity allow the economy to expand without inflation concerns. It is expected to show a downward change from the previous estimate of a 0.9% decline. Forecasts are currently calling for a 1.7% drop, meaning productivity was weaker than previously thought. This would be negative news for the bond market and mortgage rates, but this data is not one of the more important reports we see each quarter. Therefore, unless there is a large variance from expectations, this report will likely have little impact on tomorrow’s rates.

July’s Factory Orders data will also be released tomorrow morning. This report measures manufacturing sector strength and is similar to last week’s Durable Goods Orders, but includes orders for both durable and non-durable goods. It is expected to show a 0.3% increase in new orders. A smaller than expected rise would be favorable for bonds, while a large than forecasted increase could lead to higher rates tomorrow morning.

Also worth noting are weekly unemployment figures that will be released by the Labor Department early tomorrow morning. They are expected to say that 475,000 new claims for unemployment benefits were filed last week. Since this data tracks only a single week’s worth of claims, it usually takes a fairly significant surprise for mortgage rates to react. This is especially true when monthly figures will be posted the following day, as is the case this week.

FLOAT or  LOCK

If I was closing on a Home Mortgage in the next 0 to 15 Days – LOCK

If I was closing on a Home Mortgage in the next 15 to 30 Days – LOCK

If I was closing on a Home Mortgage in the next 30 to 60 Days – LOCK

If I was closing on a Home Mortgage in the next 60+ FLOAT

This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

  • Are you a possible Massachusetts First Time Homebuyer?
  • Do you have a Real Estate client inquiring about current Mortgage Rates?
  • Do you have any Refinancing questions?
  • Should you be thinking about Refinancing out of your ARM (Adjustable Rate Mortgage)?
  • Have your Real Estate clients been Pre Approved?

bc@SmarterBorrowing.com 617.771.5021

Credit: Bloomberg, Yahoo Finance, Mortgage News, MBS Quoteline, WSJ, NY Times





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Massachusetts Weekly Mortgage Rate Lock Advisory (Aug. 6, 2010) by Brian Cav

by Rich Vetstein 08.07.2010 Mortgages
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Our Mortgage Guy, Brian Cav, is back with his Massachusetts weekly mortgage rate report. Mortgage Rates are at all-time lows right now; 30 year fixed, 20 year fixed, 15 year fixed and even Jumbo Rates, and they are showing no signs of rising! I don’t see them going any lower but staying down at these [...]

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Massachusetts Weekly Mortgage Rate Lock Advisory

by Rich Vetstein 07.28.2010 Mortgages
Thumbnail image for Massachusetts Weekly Mortgage Rate Lock Advisory

Our Mortgage Guy, Brian Cav, is back with his Massachusetts weekly mortgage rate report. JUMBO is the name of the game this week. I have never seen Jumbo Mortgage rates as low as they presently are right now. Absolutely everyone with a loan amount of $523,750 or greater (depends on county) should be reaching out to [...]

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Weekly Mortgage Rate Lock Advisory: July 7, 2010

by Rich Vetstein 07.07.2010 Massachusetts Real Estate Law
Thumbnail image for Weekly Mortgage Rate Lock Advisory: July 7, 2010

Our Mortgage Guy, Brian Cav, is back from vacation with his Massachusetts weekly mortgage rate report. Interest rates are still hovering around historic lows. Mortgage Market Mortgage Rates are still at all-time lows and there is no real economic news due out this week to make any changes in the markets.  The MBA Applications, Weekly [...]

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Massachusetts Mortgage Rate Lock Advisory: Week of June 24, 2010

by Rich Vetstein 06.24.2010 Mortgages

Our Mortgage Guy, Brian Cav, is back with his Massachusetts weekly mortgage rate report. With near record interest rate lows, his sage advice, again, is to LOCK IN! Mortgage Refinancing BOOM! Mortgage Markets are officially at 2010 lows and, extremely close to 2009 lows. We are “near record low” rates, and this is going to be [...]

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Massachusetts Mortgage Rate Lock Advisory–Week of June 16, 2010

by Rich Vetstein 06.17.2010 Mortgages

Our Mortgage Guy, Brian Cav, is back with his Massachusetts weekly mortgage rate report, and his advice is to LOCK IN: The Stock Market is extending its gains and Mortgage Rates are starting to go up despite bad economical data coming from overseas. Yesterday afternoon we had a worsening pricing in Mortgage Markets because Greece [...]

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Weekly Massachusetts Mortgage Rate Report For May 5, 2010

by Rich Vetstein 05.05.2010 Mortgages

Mortgage Guy Brian Cav has his weekly Massachusetts mortgage rate lock advisory. Brian and I were talking mortgages last night at the Boston Real Estate Now Blog first inaugural get together. The circular irony is that bad economic news = lower mortgage rates. But by the same token, bad economic news = less housing sales [...]

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Guest Post: Massachusetts Mortgage Rate Advisory Weekly Report

by Rich Vetstein 03.18.2010 Mortgages
Thumbnail image for Guest Post: Massachusetts Mortgage Rate Advisory Weekly Report

I’m pleased to welcome mortgage professional Brian Cav, the creator of a great mortgage blog called Smarterborrowing.com. Brian was nice enough to give us his weekly mortgage rate report which I’m sure you’ll find interesting. Mortgage Market How did the FOMC meeting affect mortgage rates? Pricing actually got a bit better, both benchmark treasury yields [...]

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