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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

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March Non-Farm Payrolls Rebound

The Bureau of Labor Statistics reports that payroll growth rebounded in March after the weak reading in February. Non-Farm Payrolls rose 196,000 last month, above the 175,000 expected and above the 33,000 created in February. For January and February, upward revisions totaled 14,000. The Unemployment rate remained at 3.8%, near 50-year lows. Hourly earnings rose 3.2% year-over-year, down from 3.4% in February. Overall, a solid report with average job growth at 180,000 for the first three months of 2019.   Spring is the peak homebuying season for many parts of the country. After year...

April 5th, 2019 | Mortgage News, March Non-Farm Payrolls Rebound

Mortgage Rates Tumble at Fastest Pace in 10 Years

U.S. mortgage rates plummeted last week, as investors continue to fear slower international economic growth. According to Freddie Mac, the average rate on a 30-year fixed-rate mortgage (FRM) loan dropped to 4.06%, down from 4.28% the week before and the largest weekly decrease since June 2009. Rates on 15-year FRMs also fell, averaging 3.57%, down from 3.71% the previous week. Lower rates will be a welcome gift to potential homebuyers this spring. Lower My Interest Rate

April 4th, 2019 | Mortgage News, Mortgage Rates Tumble at Fastest Pace in 10 Years

What is a 5/5 ARM?

If you are familiar with adjustable-rate mortgages (ARMs), you have probably heard of the 5/1 ARM or even the 10/1 or 1/1 ARM. There is a newer ARM loan available that is growing in popularity: the 5/5. Here’s everything you need to know about this unique loan product.   What is it? The first number in an ARM refers to how long the initial fixed-rate period is, and the second number tells how often the mortgage rate can adjust thereafter. Thus a 5/5 ARM is one with a fixed interest rate for the first 5 years that will adjust every 5 years from that point on. While having a...

April 3rd, 2019 | Loan Programs, Interest Rates, What is a 5/5 ARM?

Home Price Gains Cool in February

CoreLogic reports that home prices, including distressed sales, rose 4% from February 2018 to February 2019 as gains begin to cool to more normal levels after the 4.4% increase year-over-year seen last month in January. In early 2018, gains were seen in the 7% range. Month-over-month, prices rose 0.7% from January to February. Looking ahead, prices are expected to rise by 4.7% from February 2019 to February 2020. Vantage Production, LLC is the copyright owner or licensee of the content and/or information in this post, unless otherwise indicated.  

April 2nd, 2019 | Mortgage News, Home Price Gains Cool in February

5 Ways to Save Money on Your Mortgage

Mortgage interest rates have been near rock-bottom lows for many years but are likely to increase over the next few years. Even though you can no longer count on record low interest rates, there are plenty of things you can do to make sure you save money on your mortgage loan. Here are the top five:   1. Increase Your Down Payment By saving a little longer, getting money gifted to you by relatives, or selling off big assets, you could pull together a larger down payment. If you can bump up your down payment to 20% or more, you will avoid paying for private mortgage insurance, savin...

March 27th, 2019 | Credit and Debt, Saving Money, Interest Rates, 5 Ways to Save Money on Your Mortgage

What are the Benefits of a VA Streamline Refinance?

Do you want to take advantage of lower interest rates? Or maybe there’s some merit to changing your mortgage term. Perhaps you’d like to take advantage of either benefit but haven’t done it yet because you owe more on your home than it’s worth. A Utah VA Streamline could help. The VA Streamline allows clients with an existing VA loan the financial flexibility to lower their interest rate or change their term even if they have little to no equity. The formal name of this mortgage option is Interest Rate Reduction Refinance Loan (IRRRL) and you might also see it referr...

March 25th, 2019 | VA Loans, Refinance, What are the Benefits of a VA Streamline Refinance?