Pickering Group

Lock advice at a glance!
Current position: Lock!
REPRICE RISK: Moderate

“Rates Took a Step Back Today... But Don't Count Buyers Out Yet
Mortgage rates moved a little higher this morning after a stronger-than-expected jobs report. While that's not the direction we wanted to see, the bigger picture hasn't changed much.

The market is still closely watching developments in the Middle East. If peace talks continue moving forward, we could see rates recover some of today's losses in the coming weeks. For now, rates remain within the same general range we've seen recently, and there is still a path to improvement as we head into summer.
Bottom line: a small setback today, but the outlook remains much better than it was just a few weeks ago.”

Looking to see what rate and Program best fit your needs? To schedule an appointment and to provide me with basic information, link in comments.

Loan Level Price Adjustment Reminder: all lenders have already implemented the LLPA price adjustments, which are not favorable for most loans and will raise consumer rates.

You can see the new LLPAs link in the comments.

Lock advice at a glance!
Current position: Lock!
REPRICE RISK: High

Yup, it's gonna be that bad today.

“Rates are moving noticeably higher today as oil prices continue rising and global markets react to the ongoing tensions in the Middle East. This is one of the bigger jumps we’ve seen in a while, and unfortunately, there’s not much relief in sight unless we start seeing real progress overseas and lower energy prices.

If you’re buying or refinancing soon, locking your rate may be the safer move right now. The good news is rates could improve again if tensions calm down, but for now the market is reacting cautiously and pricing is under pressure.”(want the full daily report, just email me the request)

Looking to see what rate and Program best fit your needs? To schedule an appointment and to provide me with basic information, link in comments.

Loan Level Price Adjustment Reminder: all lenders have already implemented the LLPA price adjustments, which are not favorable for most loans and will raise consumer rates.

You can see the new LLPAs link in the comments.

Lock advice at a glance!
Current position: Cautiously float!
REPRICE RISK: Moderate

“Rates improved a bit yesterday after a rough midweek, helped by lower oil prices and the market settling down. Today rates are about the same, maybe slightly worse, as some of that improvement fades. Overall rates are still on the higher side of where they have been and are slowly creeping up.

Unless we get a big surprise like weak job numbers or real progress overseas, it is unlikely rates will drop much in the short term. If you are closing soon, locking is still the safer move, while those with more time can afford to wait and see how things play out.”(want the full daily report, just email me the request)

Looking to see what rate and Program best fit your needs? To schedule an appointment and to provide me with basic information, link in comments.

Loan Level Price Adjustment Reminder: all lenders have already implemented the LLPA price adjustments, which are not favorable for most loans and will raise consumer rates.

You can see the new LLPAs link in the comments.