Non-QM, Joint Venture Products; Agency Shutdown News; Flat Rates in 2019?

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Posted To: Pipeline Press

Some view the end of one year and the beginning of another as an artificial construct, created by human intervention. Others take careful note of what happened during the year. For those in the latter category, Freddie Mac tells us that at the end of 2018 the average interest rate on a 30-year fixed-rate mortgage was 4.55%. Every borrower out there, however, still wants the 3.31% we saw in November 2012, the record low for the national average. In the good news column, however, was that, for the first time since 2006, the FDIC tells us that no bank failed in 2018. On top of that, researchers at the Federal Reserve have found that extra capital that banks must carry to comply with US stress tests has increased lending . The finding contradicts claims that the Dodd-Frank Act has reduced credit…(read more)

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