Mortgage Magic

Not the loan for everybody - but for those who it makes sense for; they love it !

https://housingbrief.com/r/PU5G7D

Mortgage Rates End Week Roughly Unchanged Mortgage lenders rely on the bond market to generate mortgage rates . In addition to being fully closed on Monday for Memorial Day, bonds also close 3 hours earlier than normal on the preceding Frida...

Markets are reacting this morning after reports that Trump told aides to prepare for a prolonged blockade of Iran. Why does that matter? Because oil flowing through the Strait of Hormuz is a major driver of global prices, and any threat there can send oil prices higher fast.

Oil did jump overnight, and bond yields moved up as well, although they’ve stayed below yesterday morning’s highs so far.

This morning’s Durable Goods report also came in stronger than expected, which can add pressure to rates. The good news is the market reaction has been fairly limited overall.

Bottom line: war headlines, oil prices, and economic reports are all helping shape mortgage rates and borrowing costs right now.

Today's Market Summary Report Today's Market Summary Report

Mortgage rates may be facing a little pressure today as the bond market sells off this morning. Mortgage-backed securities (MBS), which help influence home loan rates, are down, while the 10-year Treasury yield has moved higher.

Some lenders had not released updated rate sheets early this morning, so borrowers who could still lock yesterday’s pricing may have had a small advantage.

The move appears tied to fresh headlines about extending the Iran blockade, which is creating more uncertainty in the markets.

Bottom line: global news can quickly affect mortgage rates, so timing still matters if you're buying or refinancing.

Douglas Jones - MBS Summary Content

“The Fuse Box in the Bathtub (And a Simple Lesson for Homeowners)”

A Homeowner Confession (and One Practical Suggestion)

I’ll start with this: I know almost nothing about electricity.

Back in 1998, I bought a second home near Yosemite, stepped into an escrow, never even saw the place in person. Seemed fine…until we learned that if you needed to change a fuse, you had to stand in the upstairs bathtub to reach the electrical panel.

Yes, really.

We were in the process of making the house a rental and I knew this would need to be corrected . It wasn't until last year that we finally had an electrician move the main panel down to the basement where it belongs.

Most homes in South San Jose are 30–55 years old. They’re generally well-built, and many of us are pretty well-informed people…just not about what’s behind the walls.

So here’s one simple idea:

Get a full property inspection every ~7 years

Not because something is “wrong” but because things change, age, and quietly fall out of date. An inspection can catch electrical, plumbing, roofing, and safety issues before they become expensive (or dangerous) surprises.

You don’t need to be an expert. But it helps to have someone take a close look once in a while.