Historical Mortgage Interest Rates

The past seven years have been an economic anomaly. We had the greatest run-up of housing prices in history from 2001 to 2008, followed by a massive home price crash that took the economy with it. The Federal Reserve pumped trillions of dollars into the economy starting in late 2008, which have kept rates low for a long time.

What’s Ahead for the Mortgage industry in 2015

When compiling rate predictions for 2014, it was almost unanimous that mortgage rates would be around 5% at the end of the year, however as we all know, rates ended up at an average of 3.87% instead (according to Freddie Mac). Here are a few factors that have contributed to the historically low interest rates we have been experiencing, and … Read More

Industry Update: Cheap Oil Prices Keep Rates Low…For Now!

Right now is an opportune time to consider the benefits of a refinance or purchase of a new property. With the recent decreases in oil prices during the Thanksgiving holiday shortened week, mortgage rates remain near the low for 2014 as the influence of historically low oil prices is felt. The short term forecast for continued low prices at the pump were … Read More

INDUSTRY UPDATE: End of Quantitative Easing

All eyes and ears were focused on the statement released at the end of October by the Open Market Committee of the Federal Reserve. As widely expected, the Fed announced that its Treasury and mortgage-backed security (MBS) purchases will conclude at the end of this month.

2014 Super Mortgage Professionals

Five Tradition Mortgage loan officers were recently recognized by the Mpls/St.Paul Magazine and Twin Cities business for going above and beyond, as each received the 2014 Super Mortgage Professional award. This award does not go off of sales volume, but instead acknowledges and recognizes loan officers’ service to clients.  Fewer than 4% of all mortgage professionals in the state of … Read More

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