Andrew Eckstut, Mortgage Lender NMLS #218196

, : Average mortgage rates remained low but were worse for the week. Rates hit their worst levels on Tuesday, before improving a bit to end the week just slightly worse.... : , Average mortgage rates will likely stay relatively unchanged this week, but could see rebate pricing move some from day-to-day. Rebate pricing is the credit a lender provides towards closing costs based on what rate you choose, or the cost to obtain a lower rate (often called 'points'). Markets are closed on Monday in observance of MLK Jr. Day, as are most lenders. ' : - Fed bond purchases: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates low and generally stable. - Economic data: It is a quiet week for economic data, nothing on the calendar that should cause any shakeup with rates. - Bond pricing: Lenders set mortgage rates based on the pricing of mortgage bonds, which have been performing poorly over the past two weeks (causing rates to rise). However, mortgage bonds did show signs of improving last week, although we aren't likely to see rates improve too much this week.

Congrats to these first time home buyers on their beautiful new home!

New 5.0-star Review: "Andrew made getting a mortgage loan a great experience. We were first time home buyers so he made sure to get us only the best. Never thought during this pandemic we’d be able to buy a house but Andrew and his team made that happen! We definitely would recommend him to anyone looking for a home."

Don't be surprised by rising mortgage rates! ? . Despite outdated headlines about mortgage rates hitting record lows, mortgage rates have actually crept up a bit. ... ' , ... but you may want to reach out to me sooner than later. Just shoot me a text, an email, a DM, or give me a call. I'll run your numbers and see what we can do for you. I'm looking forward to hearing from you soon.

, : Average mortgage rates improved overall for the week, with rates improving most through Wednesday before pulling back to end the week.... : Average mortgage rates this week are hard to forecast, with many variables that could cause rates to fluctuate daily. While rates will remain low into 2021, this week we could see rates go up or down based on the elections, the meeting of the Fed, and economic data. Consumers looking to minimize risk may want to still consider locking and should talk it over with their mortgage professional. ' : - Economic data: This week has lots of economic data, but the data most likely to affect mortgage rates is Friday's jobs data. - Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates low and limiting how far rates could rise. The Fed is unlikely to change policy rates at this week's meeting, but its policy statement could cause influence mortgage rates for the week. - Elections Nov 3rd: Although the election is on Tuesday, it will take days to complete the count of all the votes, including millions of mailed in votes, and could contribute to rate volatility.

Just a little mortgage Halloween humor... !

Music to our ears!

, : Average mortgage rates worsened through the week, contrary to some headlines that tracked old data and said rates hit a new low. Still, although rates did get slightly higher, it wasn't a big move.... : , Average mortgage rates this week could show some volatility, depending on how markets trade heading into the elections next week. Rates could improve a bit though after losing ground last week, but the upside potential is limited. Consumers looking to minimize risk may want to still consider locking and should talk it over with their mortgage professional. ' : - Economic data: The week does have a lot of economic data and activity, which could play a small role in rates moving from day to day. - Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates low and limiting how far rates could rise. - Stimulus talks: A stimulus deal still not done, now considered extremely unlikely to be done before the election. - Elections Nov 3rd: Speculation of who will win the presidential election as well as House and Senate seats could cause some volatility this week.

New 5.0-star Review: "Just completed a refi with Andrew!! Can’t say enough about how simple he made the process!! Saved me time, the headaches of not having to deal with the issues of a big bank.....and mostly MONEY!!!!!!! He was available when needed, patient, kind and kept me in constant communication as to where we were in the process EVERY step of the way! I recommend using him 100%!!"

New 5.0-star Review: "Initially began my mortgage process with BOA (Bank of America), after a horrible experience with them, I turned to Andrew. Since BOA wasted about a month’s worth of my time, I was up against the closing date. Andrew gave me a quick loan estimate and promised that he would get the loan approval done on time. He was able to get me a final approval in about a month and closing went smoothly. Andrew is also highly responsive, answering text messages and phone calls even on weekends! Being a first time home buyer, I would highly recommend him if you’re looking for someone who will walk you through the mortgage process!"

... ? Rates are likely to continue to be volatile as we head into the election in November. If you've been thinking about refinancing, or looking at buying a home, we should talk soon. I'm here when you're ready.

New 5.0-star Review: "Andrew and his team were a pleasure to work with! Not only did he always have a timely response to all of my questions but he got us a great rate and significant monthly savings on our home refinance. We just closed and the whole process could not have been easier. Would highly recommend."

, : Average mortgage rates improved slightly through the week last week but ran out of steam on Friday, pulling back just a bit to end the week.... : Average mortgage rates this week could once again be more volatile than normal, especially with talk that an economic stimulus package could possibly be passed before the election. That means it is a good week to stay in touch with your mortgage lender if you have a loan in process, or if you are thinking of getting a mortgage to buy a home or refinance. ' : - Economic data: The week doesn't have any economic data that is likely to have any great effect on mortgage rates - Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates low. - Stimulus talks: If a stimulus bill is agreed upon and looks likely to get passed before the elections, it would require more debt to be created to fund it, and could put some pressure on mortgage rates - Bond market technical indicators: Mortgage bonds (the bonds that lenders base mortgage rates on) look like they could struggle to improve this week, pointing to slightly worse rates as the week progresses.

"' !" That's what I hear from any of my clients that started out by looking online for mortgage rate information, only to have their phone and email blow up with salespeople hounding them and hassling them at all hours of the day. If you want to learn more about where rates are at, what rates you qualify for, and if buying a home or refinancing makes sense for you... simply contact me at your convenience and save yourself the hassles and headaches. ...I can give you your options, answer all your questions, and make the process convenient and easy. , , . .

, : Average mortgage rates worsened last week, helped along by headlines that Congress was close to passing a stimulus plan.... : Average mortgage rates this week could be more volatile than normal, making it harder to anticipate whether they will move higher or lower. That means it is a good week to stay in touch with your mortgage lender if you have a loan in process, or if you are thinking of getting a mortgage to buy a home or refinance. ' : - Economic data: The week doesn't have any economic data that is likely to affect mortgage rates - Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates low. - Stimulus talks: If a stimulus bill is agreed upon and looks likely to get passed before the elections, it would require more debt to be created to fund it, and could put some pressure on mortgage rates - Bond market technical indicators: After losing ground last week, mortgage bonds (the bonds that lenders base mortgage rates on) look like they could continue to worsen this week. However, that could reverse when the bond market reopens on Tuesday.

" ?" Answer: One of the most confusing aspects of a mortgage is trying to compare interest rates and APRs. Here is a simple explanation to make it easy for you to get a low rate mortgage without the hassle. The interest rate is only the interest that you will pay on the mortgage. Mortgage interest rates are often quoted in .125% increments.... The APR is a calculation designed to more easily compare mortgage offers. It includes the interest rate above, PLUS other fees and costs such as: lender fees, origination fees, discount points, and some closing costs. Some banks and lenders will change what they call certain fees to avoid having to include them in the APR calculation, making it even harder to compare. An APR is required anytime a bank or lender advertises an interest rate, to help get a more accurate comparison. The interest rate and the APR should never be exactly the same unless there are no fees on the loan. ' , . A quick and easy conversation can help make sense of it all, and I can show you how to make sure you're getting a good mortgage offer. Getting a mortgage doesn't have to be a hassle. Let me make it easy.

New 5.0-star Review: ""

, : Average mortgage rates were basically unchanged by the end of the week, after being slightly worse midweek.... : Average mortgage rates could get slightly worse this week, although rates will still be near record lows. Rates shouldn't move too drastically, but we could see day-to-day movement making it a great time to stay in touch with your local mortgage professional. ' : - Economic data: The week doesn't have a lot of data to worry about, Wednesday is the day most likely to see rates influenced by data. - Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates stable and low. - President Trump's medical condition: Trump's diagnosis and recovery from COVID-19 has helped spark a stock rally and pressured bonds, pushing rates slightly higher. - Bond market technical indicators: After improving last week, mortgage bonds are starting the week off worse and are poised to go lower, which would bring slightly worse rates or rebate pricing. Rebate pricing is the credit that a lender gives towards closing costs, or the cost to buy down to a better rate, often referred to as points.