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NO CLOSING COST Options available for all loans!!!

866-445-3765

CALL TODAY

24/7 

SMART LOANS FOR

SMART PEOPLE

Stay Connected:

facebook twitter cast

 

INTEREST RATES

Rates fluctuate on a daily basis, sometimes even hourly, click here to see our current rates or simply request your rate

 

INTEREST RATES

Rates fluctuate on a daily basis, sometimes even hourly, click here to see our current rates or simply request your rate

Market Commentary

Updated on June 16, 2017 10:12:07 AM EDT

Mays Housing Starts was posted at 8:30 AM ET this morning. The Commerce Department announced a 5.5% decline in new home groundbreakings when forecasts were calling for an increase in starts. This means the new home portion of the housing sector appears to be much weaker than many had thought. That is good news for bonds and mortgage rates. However, this report doesn’t carry a significant amount of importance, preventing a stronger reaction to the favorable news.

Also posted this morning was the preliminary reading to the University of Michigans Index of Consumer Sentiment for June. It came in at 94.5 that was well below both the 97.0 that was expected and May’s final reading of 97.1. This means that surveyed consumers were much less comfortable with their own financial and employment situations than they were last month. Because waning confidence usually translates into softer levels of consumer spending that fuels economic growth, we can also consider this data good news for bonds and mortgage rates.

Next week is very light in terms of relevant economic reports and other events that may influence mortgage rates. There are only a couple of monthly reports scheduled, with the majority of them focusing on the housing sector. None of the week’s events are set for Monday, so expect stocks and weekend news to be the largest factors as the week starts. Look for details on all of next week’s activities in Sunday evening’s weekly preview.

 ©Mortgage Commentary 2017

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Mortgage Loans Austin - Reliability Program    Mortgage Loans Austin
State Licencing
Branch of RLM Mortgage LLC, NMLS ID #289446 Mortgage Company License
Sonny Baker, Branch Manager, NMLS ID# 307828
Complaints regarding mortgage bankers should be sent to the Texas Dept. of Savings and Mortgage Lending,
2601 N. Lamar, Suite 201, Austin, TX 78705. A toll-free consumer hotline is available at 1-877-276-5550.

Figure: 7 TAC 80.200(b) "Consumers wishing to file a complain against a company or a residential mortgage loan originator should complete and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, Texas 78705. Complaint forms and instructions may be obtained from the department's website at www.sml.texas.gov. A toll-free consumer hotline is available at 1-877-276-5550.

 

The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. A written application for reimbursement from the recover fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the Recovery Fund, please consult the department's website at www.sml.texas.gov."
 

 

 
Mortgage Loans Austin - Reliability Program    Mortgage Loans Austin
State Licencing
Branch of RLM Mortgage LLC, NMLS ID #289446 Mortgage Company License
Sonny Baker, Branch Manager, NMLS ID# 307828
Complaints regarding mortgage bankers should be sent to the Texas Dept. of Savings and Mortgage Lending,
2601 N. Lamar, Suite 201, Austin, TX 78705. A toll-free consumer hotline is available at 1-877-276-5550.

Figure: 7 TAC 80.200(b) "Consumers wishing to file a complain against a company or a residential mortgage loan originator should complete and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, Texas 78705. Complaint forms and instructions may be obtained from the department's website at www.sml.texas.gov. A toll-free consumer hotline is available at 1-877-276-5550.

 

The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. A written application for reimbursement from the recover fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the Recovery Fund, please consult the department's website at www.sml.texas.gov."
 

 

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