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VITEK Mortgage Group
Corporate Office

3 Parkcenter Drive
2nd Floor
Sacramento, Ca 95825
Toll Free: (800) 570-5300

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Customer Login - Coming soon!

You will be able to log in for up-to-the-minute updates on your loan in process and easily submit needed documentation to us to help ensure a faster transaction for you. This new state-of- the-art communication system will also support our efforts toward complete paperless transactions and helps us further our Think Green initiatives!

Industry News

Mortgage Industry News

Fed Chair - Unwise to Wait to Raise Rates


In her semi-annual testimony to Congress, Fed Chair Yellen surprised investors with her comment that it would be "unwise" to wait too long to raise the federal funds rate. MBS moved lower due to the possibility of faster than expected tightening by the Fed. Treasury prices had a choppy overnight session but ultimately finished near unchanged as a slew of mixed data from overseas failed to move markets ahead of day one of Janet Yellen’s testimony. Outside of Fedspeak, the today’s US economic calendar is limited to the already released January Producer Price Index. The results were stronger than expected as a headline increase of +0.6% and core improvement of +0.4% were both above forecasts of +0.3% and +0.2%, respectively. Lastly, investors will be watching today’s appearance from Fed Chair Yellen to help gauge the potential for a March rate hike, as well as the probability that the Fed will raise rates three times this year. Currently, the 10yr yield is at 2.490%.

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