Mortgage Newsletter

Mortgage Newsletter / Update

Please find the latest Mortgage Update from a member of our team: Will Dukes, one of the lenders who we recommend, so as to fully help our Buyers (& Sellers).  (Please compare Will's rates and terms with other lenders; always compare)

We can send you Will's most recent Rate Sheet separately, please email Barry@SWFLLuxury.Com  to request it, thanks.

11 / 20 / 2020 Update:

Good evening!  Below (and attached) please find your weekend ratesheet.

 

COMMENTARY: Yesterday afternoon the Treasury Department in a surprise move, asked the Federal Reserve to return $455 billion. 🤔 These funds were initially earmarked for corporations and municipalities as part of the $3 trillion CARES Act funding package.  Many market participants see yesterday's action by Treasury Secretary Mnuchin as destabilizing economic support programs. On the other hand, others point to the fact that the $455 billion worth of financial backstops the Fed was managing were due to expire on December 31st -- and weren't being used much in recent months.   From this perspective, the direct market impact of recalling these funds will likely be limited but having said that, Mortgage investors knee-jerk reaction was to push rates fractionally lower.  In my judgment, this idea will likely prove to be more wishful thinking than a practical reality and I don’t expect rates to stay where they are for any significant period of time.


Looking ahead to the coming week, Uncle Sam will be the credit markets looking to peddle $169 billion worth of 2-, 5-, and 7-year Treasury notes during a two-day borrowing spree.  Such a selling spree should make it difficult, if not impossible, for mortgage interest rates to gain traction toward lower levels.  In terms of economic reports, Wednesday will be a hectic day with weekly jobless claims, October Durable Goods Orders, and the revised Q3 Gross Domestic Product report.  This is followed by New Home Sales and the October Personal Income and Spending figures.  When it is all said and done, we will end up with the Fed’s Open Market report from its November 5th meeting.  Whew! With everything else we are going through right now, all of the scheduled reports on the docket next week are expected to be mortgage interest rate neutral.

 

The mortgage market will close at its regular time next Wednesday, be closed for the Thanksgiving Holiday on Thursday and close early at 2:00 PM ET on Friday, November 27th.  

Have a great weekend.  The weather is simply gorgeous!

Check out this video for an overview of this Powerful Upgraded Website and how you can Use the Many Different Features; making this Your One Stop Shop to find Accurate Information and Research All of Florida & Beyond.

Also; please check out the other Pages; Blogs, and tabs to many other informational Links, Updates & Reports that we have here on our informational website.  

P.S. --> If You'd like for me to create a regular Video Tour for ANY of the Properties on our website, just CLICK "Video Request Button"; from property details.  We can visit the property and record you a video, or, if you want, we can do a one on one Facebook Live Showing.

"We hope that you find the information useful.  If you have any questions, please do not hesitiate to contact Kim or Barry with the Hoey Team  email us at: Barry@SWFLLuxury.Com  or KimZuponcic@Gmail.com or Call/Text the Hoey Team at:  (239)-360-5527 

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