That is wild — and honestly a sign of where mortgage tech is heading fast. A three-hour closing versus three days used to be unheard of. What likely made it possible: 🚀 Why it happened so fast 1. Automated income/asset verification Lenders now pull bank statements, payroll data, and tax transcripts digitally instead of waiting for uploads. 2. Instant credit + DU/LPA underwriting If everything lines up, AUS can issue an immediate approve/eligible. 3. e-sign + remote online notarization (RON) Cutting out scheduling delays saves days. 4. Title automation Many second mortgages use “property data reports” or streamline title searches that don’t need a full title commitment. 🧩 Why second mortgages close faster than first mortgages They don’t require an appraisal if AVM hits. Fewer compliance disclosures. Title and insurance requirements are lighter. No escrow setup. 📈 Bigger picture The mortgage industry is absolutely racing toward: close-in-a-day loans fully digital underwriting AI-assisted document interpretation more instant approvals for clean files We’re going to see more of what you just experienced—especially for HELOCs and seconds. tune in and learn https://www.ddamortgage.com/blog didier malagies nmls#212566 dda mortgage nmls#324329 

✅ Why mortgage rates can rise even when the Fed cuts rates Mortgage rates don’t move directly with the Fed Funds Rate. Instead, they are primarily driven by the 10-year Treasury yield and investor expectations about inflation, recession risk, and future Fed policy. Here are the main reasons this disconnect happens: 1. Markets expected the rate cut already If investors already priced in the Fed’s cut weeks or months beforehand, then the cut itself is old news. When the announcement hits, mortgage rates may not fall—and often rise if the Fed hints at fewer future cuts. 2. Fed cuts can signal economic trouble Sometimes the Fed cuts because the economy is weakening. That can cause: Investors to worry about higher future inflation, or A “risk-off” move where money leaves bonds Both of these drive the 10-year yield UP, which pushes mortgage rates UP even though the Fed cut. 3. Bond investors wanted a bigger cut If markets expect a 0.50% cut but the Fed only delivers 0.25%, that’s seen as “too tight.” Result: 10-year yield jumps Mortgage rates move higher 4. Fed messaging (“forward guidance”) matters more than the cut Example: The Fed cuts today, but says: “We may need to slow or pause future cuts.” That single sentence can raise mortgage rates, even though short-term rates just went lower. 5. Inflation surprises after the cut If new inflation data comes in hot after a Fed cut, the bond market panics → yields go up → mortgage rates go up. Quick summary Fed Cuts Rates Mortgage Rates Move ✔ Expected or priced in Can rise or stay flat ✔ Fed hints at fewer future cuts Often rise ✔ Inflation remains sticky Rise ✔ Economy looks unstable Rise ❗ Only when 10-year yield falls Mortgage rates fall tune in and learn https://www.ddamortgage.com/blog didier malagies nmls#212566 dda mortgage nmls#324329