Oklahoma Mortgage Group - Mike David

A mortgage-rate headline can be useful, but it is easy to give it more meaning than it deserves. Freddie Mac’s Primary Mortgage Market Survey is a widely followed national benchmark. It helps consumers and housing professionals see broad market direction. It does not quote a rate to a specific borrower. What the survey tells you Freddie Mac releases the PMMS on Thursdays. The published averages reflect survey methodology and assumptions described by Freddie Mac. They are useful for comparing broad changes over time and understanding the general rate environment. What it does not tell you A national average does not account for every detail of an individual transaction. Available rates and terms may vary based on the loan program, credit profile, down payment or equity, occupancy, property type, loan purpose, points or lender credits, lock period and market conditions when the rate is locked. Not every borrower or property fits the same scenario. Why the full loan estimate matters When ...

  Beginning November 2, 2026, new appraisal reports submitted to Fannie Mae and Freddie Mac through the Uniform Collateral Data Portal must use UAD 3.6. New reports using the older UAD 2.6 format will receive an unsuccessful submission status. For Realtors, this is not simply an appraisal-industry technology update. It is a reminder that accurate, organized property information can materially affect the efficiency of a mortgage transaction. UAD 3.6 introduces a more structured and detailed approach to describing residential property characteristics. Realtors are not responsible for determining appraisal condition ratings, quality ratings, or market value. However, listing and transaction teams can help ensure that the underlying facts are readily available. A useful property-information packet might include: A complete list of renovations and approximate completion dates Permits or contractor documentation when available Accurate concessions and seller-paid expenses HOA dues and pr...

  Manufactured housing plays an important role in Oklahoma, particularly for buyers seeking affordability or purchasing in rural communities. One long-standing obstacle has been financing a manufactured home that was moved after its original installation. Beginning September 9, updated Freddie Mac guidance may create a financing path for some of these properties. Under the updated requirements, an eligible manufactured home moved from another site must be inspected by a licensed professional engineer or another appropriate authority to verify its structural integrity. The home also cannot be placed in an area with more restrictive wind, roof-load, or thermal-zone requirements than the zone for which it was constructed. That is a meaningful change—but it is not blanket approval for every relocated home. Buyers and Realtors must still consider: HUD certification labels and construction records The home’s movement and installation history Foundation requirements Real-property classifi...

Mortgage Monday is arriving on a Tuesday this week—and this time, waiting for the financial markets to reopen gave us a much clearer picture of what is actually happening with mortgage rates. The early read is mixed. Mortgage bonds have recovered from some premarket weakness, and the 10-year Treasury yield was close to 4.78% during Tuesday morning trading. That is better than the early premarket level of approximately 4.80%, but it is not enough to call this a meaningful mortgage-rate rally. The more accurate description is: Mortgage pricing opened roughly unchanged to slightly better, but inflation and oil prices are keeping the market on edge. What Happened When the Market Opened? Before the regular market session, the 10-year Treasury yield was approximately 4.803%, nearly two basis points higher than Friday’s close. Later in the morning, the yield moved back toward 4.78%, while mortgage-backed securities were essentially unchanged to slightly stronger. That recovery is mildly encou...