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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

Blog

 

December Housing Starts Plunge

Delayed December Housing Starts fell 11.2% from November to an annual rate of 1.078 million units versus the 1.254 million expected. It was the slowest pace since September 2016. Building Permits were essentially unchanged at 1.326 million versus the 1.290 million expected. Year-over-year, Housing Starts fell nearly 11% with losses seen in both single-family starts (-6.7%) and multi-dwelling units (-22%). Fannie Mae Chief Economist Doug Duncan said last week, "Falling - or at least not rising - interest rates, strong employment, continued wage growth, and a deceleration in home price appr...

February 26th, 2019 | Mortgage News, December Housing Starts Plunge

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

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?

CoreLogic: December Home Prices Rose 4.7%

The pace of U.S. home price appreciation continued to slow in December, according to data from CoreLogic, with prices rising 4.7% compared with the year before and just 0.1% from November. Home price growth slackened significantly in the second half of 2018, slowing to an average of 5.2% for the last six months, down from 6.4% in the first six. CoreLogic predicts that home prices will see an annual increase of 3.4% in 2019. Get a Lower Interest Rate Get a Quote

February 6th, 2019 | Mortgage News, CoreLogic: December Home Prices Rose 4.7%

The Fed Throws a Party for Stocks and Bonds

The Fed met this past week. As expected, they didn't hike rates and the Fed Statement was very "dovish," suggesting that rate hikes will be off the table for most, if not all, of 2019. The Fed looked to "muted inflation" and slowing economies abroad as reasons to show "patience" in hiking rates further. In response, home loan rates revisited the best levels of 2019 this past week. This new position by the Fed is a complete departure from where they were just a few months ago when Fed Chair Powell was forecasting 3 rate hikes this year. People ownin...

February 1st, 2019 | Mortgage News, The Fed Throws a Party for Stocks and Bonds