Mortgage Market Insider

Highest levels since 2009

The 30-year fixed rate mortgage increased 26 basis points to 5.54% while the 15-year mortgage increased 17 basis points to 4.88%.

current outlook:

The 50 basis point bump in the Federal Funds Rate has pretty much been set in stone. What the market will be looking for in today’s press conference is how they will be going about their balance sheet normalization. Depending on the language used by the Feds, mortgage rates could either have a positive or negative reaction. As it stands, rates haven’t risen this fast since the 1980s. As a result, consumers have been turning to adjustable-rate mortgages for affordability. The share of purchase rate locks for ARMs increased from 2.5% in December to 9% last week.

Highest levels since 2009

recent MMI news

Rates fall short of 5%

Rates fell yesterday for only the fourth time this month, but remain elevated compared to last week’s levels. Overall, the 30-year fixed rate mortgage rose

Read More »

Need an estimate?

Instead of paying fees and jumping through hoops to apply to each lender directly, now you can fill out one application for free and have the lenders come to you.

Frequently asked questions

We use bank-level security. For both your safety and for regulatory compliance, we have to meet the security standards of all the lenders in our network. This means that all of our data is encrypted and processed over a secure network.

Every application is reviewed by a licensed mortgage consultant. They work behind the scenes to make sure everything goes smoothly from origination to closing. And yes, if you have any questions or need to discuss strategies, they’re on standby to help.

Yes and no. It will not hurt your credit to see your initial estimates. But, it will ding your credit by a handful of points when you complete a loan application.

How it works: any time that you apply for credit, it lowers your credit score a little bit. However, when you’re applying for a home loan, you have a window of opportunity to shop around without additional hits to your credit, which is how we’re able to provide you multiple offers without added impact.

Also: when you complete our initial application, you’re not actually applying for a home loan yet. You’re simply browsing your home financing options. So, this is risk-free.

Yes, absolutely. We don’t charge anything for our service, so no origination fees or mark-ups on your rate. Note: there are still costs associated with getting a mortgage, such as appraisal fees and lender fees, all of which will be detailed in your loan estimate.

Scroll to Top