Mortgage Market Update 2-26-21

The House of Representatives is poised to approve a $1.9 trillion stimulus bill that includes new $1,400 stimulus checks. The legislation is expected to be finalized in mid-March.

FDA panel today unanimously backed Johnson & Johnson’s single-shot coronavirus vaccine for emergency use, a critical step paving the way to distribute a third preventative treatment in the U.S. next week.

Economy doing better than many expected with respect to adapting to Covid-related restrictions; it puts obvious upward pressure on interest rates. Another week of rising rates spurred homeowners and buyers to hold their applications, and the trend is not expected to turn any time soon.

The Fed is still purchasing about $5B every day in mortgage-backed-securities. However, the market has been volatile lately. It is necessary to closely monitor daily fluctuations to decide whether to lock in rates. The interest rates have risen by at least 0.5% since last week.

众议院准备批准一项包括新的1,400美元刺激性检查的1.9万亿美元刺激性法案。预计该将在3月中旬完成立法。

FDA小组今天一致支持强生公司的单次冠状病毒疫苗用于紧急用途，这是至关重要的一步，为下周在美国分发第三种预防性药物铺平了道路。

在适應和Covid相关的限制，经济表现比许多人预期的要好；这给利率带来了明显的上行压力。经过一周的利率上涨，使得房主和购房者暂缓申请，而且这种趋势预计不会很快改变。

美联储还在每天购买高达$ 5B左右的抵押贷款支持证券，但是最近市场波动较大，需要密切观察每日波动来决定是否锁定利率，从上周到现在贷款利率至少上涨了0.5%。

Economic Calendar

Report

Period

Estimate

Impact

Date: Mon. Mar. 1

ISM Index

Feb

58.9

High

Date: Wed. Mar. 3

ADP National Employment Report

Feb

125K

Moderate

ISM Services Index

Feb

58.7

Moderate

Date: Thu. Mar. 4

Jobless Claims (Initial)

2/27

725K

Moderate

Productivity

-4.7%

Moderate

Date: Fri. Mar. 5

Unemployment Rate

Feb

6.4%

High

Non-farm Payrolls

Feb

148K

High

Hourly Earnings

Feb

0.2%

High

Average Work Week

Feb

34.9

High

Today’s Rate

Feb. 26, 2021

Conforming Loan

Loan Term (Yr)

Rate (%)

APR (%)

30yr Fixed

2.875%

2.942%

15yr Fixed

2.125%

2.192%

High Balance Loan

Loan Term (Yr)

Rate (%)

APR (%)

30yr Fixed

2.875%

2.942%

15yr Fixed

2.250%

2.317%

Jumbo Loan

Loan Term (Yr)

Rate (%)

APR (%)

30yr Fixed

3.125%

3.192%

15yr Fixed

2.875%

2.942%

Daily rate based on: SFR/Primary/LTV60/FICO 780/Purchase

IMPORTANT: Advertised rates were valid and effective as of the date reflected above, are for informational purposes only, and are subject to change without notice.

Loans are subject to credit and collateral approval. Advertised rates are based on a set of loan assumptions including a borrower with excellent credit history and optimal loan characteristics. Your final interest rate and annual percentage rate (APR) may differ depending on your individual transaction’s specific characteristics, and certain products may not be available for your situation. Several determining factors include, but are not limited to, the state of the property location, loan amount, documentation type, loan type, occupancy type, property type, loan to value, and credit score.

APR reflects the cost of credit over the term of the loan expressed as an annual rate. For mortgage loans, APR may include the interest rate, discount points (also referred to as “points”), and other charges or fees (such as mortgage insurance and origination fees), but does not necessarily take into account other loan-specific finance charges you may be required to pay.

Golden Star, Inc. dba Transglobal Lending, 185 W. Chestnut Ave., Monrovia, CA 91016, NMLS # 1437002 (www.transgloballending.com). All rights reserved. Equal Opportunity Employer and Equal Housing Lender. All mortgage products are subject to credit property approval. Rates, Program terms and conditions are subject to change without notice. Additional conditions, qualifications, and restrictions may apply. This is not an offer for extension of credit or a commitment to lend.