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Retail Sales Plunge in December

'Only got twenty dollars in my pocket' ...Thrift Shop by Macklemore & Ryan Lewis. The financial markets are sensing a government shutdown and protracted trade war with China will be averted. This is good news and a reason why Stocks have continued to push higher and home loan rates have capped for the past few weeks. But last Thursday, Retail Sales was reported at a shocking 9-year low. Combing through the report, a 3.9 percent decline in internet purchases was a huge negative surprise. With consumer spending making up nearly 70 percent of GDP, there is fear in the markets th...

February 14th, 2019 | Mortgage News, Retail Sales Plunge in December

What is the Right Mortgage for Buying a Fixer-Upper?

You have found your dream house but it will take significant work to make it a home. You do not have cash in savings to pay for both a down payment and the repair costs. Not to worry - this is not a hopeless situation. Fortunately, there are two types of mortgage loans available for just this scenario:  The Federal Housing Administration (FHA) 203(k) rehabilitation loan or Fannie Mae HomeStyle Renovation Mortgage.   FHA 203(k) Mortgage The Federal Housing Administration has provided a home loan that allows buyers to borrow enough money to cover the price of the home plus the e...

February 13th, 2019 | Home Buying or Selling, Conventional Loans, Loan Programs, Home Improvement, FHA Loans, What is the Right Mortgage for Buying a Fixer-Upper?

Mortgage Rates Drop to a 10-Month Low

Mortgage interest rates fell to their lowest point in 10-months, according to data from Freddie Mac. The average rate on a 30-year fixed-rate mortgage dropped to 4.41% with an average 0.4 point, down from 4.46% the week before and 4.32% one year earlier. The new rate is lowest since the beginning of April 2018. As the Federal Reserve announced plans to pause future rate hikes, signaling concern about potential economic risks, investors fled to the safety of Treasury bonds which in turn pushed mortgage rates lower for Utah homeowners.   Get a Lower Interest Rate Get Quote

February 12th, 2019 | Mortgage News, Mortgage Rates Drop to a 10-Month Low

What's the Fed's next move?

Bad news is good news for the U.S. Bond market and mortgage rates. This past week, bad news by way of worse than expected economic numbers in Europe cast a dark shadow on the financial markets. As a result, U.S. home loan rates ticked down to the best levels in ten months. The U.S. economy is the "cleanest shirt in the dirty laundry" when compared to other global economies -- meaning our economy is performing pretty well, while countries like Germany are on the brink of recession. How do problems in Europe help our rates? With their economies materially slowing, their Central B...

February 11th, 2019 | Mortgage News, What's the Fed's next move?

Common Household Health Hazards

We don’t generally think of the place we live in as a component of our health, but it is. Every day, we breathe its air, interact with its materials and components, climb its stairs. If our homes aren’t up to code – literally and figuratively – it can pose a lot of serious risks to our health, in the short and long term. Whether it’s poor indoor air quality, toxic chemicals or risk of injury, there are dangers lurking in many of our homes that we may not even realize are there. These dangers can cause many problems, such as respiratory issues, developmental del...

February 9th, 2019 | Health and Wellness, Common Household Health Hazards

What Are Mortgage Points?

If you have ever checked out the current status of mortgage interest rates, you may have seen the average points listed next to the rates. What are these points and how do they affect your interest rate?   Points Defined Mortgage points, or discount points, are upfront fees paid to your lender that allow you to “buy down” your interest rate on your home loan. The idea is that you are prepaying some of the interest on the mortgage, which gives you a lower rate. The more points you pay, the lower your interest rate will be. One point is equal to 1% of the total mortgage l...

February 6th, 2019 | Home Buying or Selling, Conventional Loans, VA Loans, FHA Loans, Mortgage Basics, Interest Rates, What Are Mortgage Points?

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