Mortgage Environment: Rates Are Steady; Underwriting Remains Risk-Averse

For the past 30 days, rates on a 30 year fixed rate loan have been hovering between 4.75% and 5% with government rates (FHA/VA) approx 1/8 lower. 

So the rate environment remains favorable for the medium term.  Watch for the Federal Reserve to comment about raising the Fed Funds Rate, as many European Central Banks have recently done to manage inflationary pressures.

Underwriting remains risk-averse and conservative with lenders/investors adhering to tighter credit standards for credit score, Debt to Income ratios and sources of funds used in the transaction.

Through it all, mortgage financing is available and requires expert guidance to get a transaction to the table on-time and as-promised.

Call or email me for assistance with your financing needs. 

Larry Rufo
NMLS #141707
Licensed in PA and NJ
Mortgage Access Corp
610 322 8786 cell