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Mortgage Market Update 11-13-20

It has been a chaotic week. Investors had hopes of the Covid 19 vaccines, hearing of a possible stimulus package, solid economic outcomes, and a clear understanding that the Fed’s has the economy’s strength in mind.

On Thursday, Fed Chair Powell continued to reiterate the need for fiscal stimulus. House Speaker Pelosi introduced a $3.4T stimulus package while Senate Majority Leader is offering a much smaller $500B package.

The Producer Price Index rose 0.3% in October versus the 0.2% expected while the Core rate was up 0.1% and had no impact on the markets.

Economic Calendar

Report Period Estimate Impact
Date: Mon. Nov. 16
Empire State Index Nov 12.85 Moderate
Date: Tue. Nov. 17
Retail Sales Oct 0.5% High
Retail Sales ex-auto Oct 0.5% High
Housing Market Index Nov 85 Moderate
Date: Wed. Nov. 18
Building Permits Oct 1.570M Moderate
Housing Starts Oct 1.440M Moderate
Date: Thur. Nov. 19
Existing Home Sales Oct 6.45M Moderate
Jobless Claims (Initial) 11/14 678K Moderate
Philadelphia Fed Index Nov 22.0 High

Today’s Rate

Nov 13, 2020

Conforming Loan
Loan Term (Yr) Rate (%) APR (%)
30yr Fixed 2.375% 2.442% APR
15yr Fixed 2.000% 2.067% APR
High Balance Loan
Loan Term (Yr) Rate (%) APR (%)
30yr Fixed 2.375% 2.442% APR
15yr Fixed 2.000% 2.067% APR
Jumbo Loan
Loan Term (Yr) Rate (%) APR (%)
30yr Fixed 3.000% 3.067% APR
15yr Fixed 3.000% 3.067% APR
Daily rate based on: SFR/Primay/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.

 

admin2021-01-07T21:32:33-08:00November 13, 2020|

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CA DBO license : 60DBO-51144
nmlsconsumeraccess.org

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Daily rate based on: SFR/Primay/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.
Figure: 7 TAC §80.200(b)
“Consumers wishing to file a complaint against a company or a residential mortgage loan originator should complete and send a complaint form to the Texas department of savings and mortgage lending, 2601 north lamar, suite 201, Austin, Texas 78705. complaint forms and instructions may be obtained from the department’s website at www.sml.texas.gov. a toll-free consumer hotline is available at 1-877-276-5550.
The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. a written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.sml.texas.gov.”
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Contact Info

185 W. Chestnut Ave Monrovia, CA 91016

Phone: (888) 993-0788

Email: info@transgloballending.com

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