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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com



Mortgage Rates Hit One Year Lows

The monetary authority of the United States, the Federal Reserve, meets 8 times a year to discuss the economy and adjust monetary policy to promote maximum employment and maintain price stability (inflation). The Fed, led by Chairman Jerome Powell, met this past Wednesday and decided to leave the Fed Funds Rate unchanged at 2.50% - this was expected. They also issued their Monetary Policy Statement which includes their outlook on the economy and its interest rate forecast. Overall the Statement was "dovish", meaning stimulative to the economy. They forecasted slower US growth, ...

March 22nd, 2019 | Mortgage News, Mortgage Rates Hit One Year Lows

Euro Pain, US Bonds Gain

"It's a small world after all" If inflation moves lower or is expected to move lower - rates must go lower as well. That's the situation right now. The financial markets and interest rates also follow inflation on a global scale. Why is this important to homeowners? If disinflation or the rate of inflation moderates in places like Europe, interest rates in those countries move lower and tend to drag US interest rates lower as well. This past week we watched home loan rates revisit one-year lows upon news that the European Central Bank or ECB downgraded their ...

March 8th, 2019 | Mortgage News, Euro Pain, US Bonds Gain

New Home Sales Rise in December

The Census Bureau reports that New Home Sales rose 3.7% in December to an annual rate of 621,000 units, a seven-month high and above the 572,000 expected. Sales were down 2.4% from December 2017 to December 2018 while sales for November were revised lower to 599,000 from 657,000. The Northeast saw a 44.8% gain in New Home Sales, a 5% increase in the South, up 1.4% in the West and down 15.3% in the Midwest. The median sales price fell to $318,600 from $343,300 in December 2017.   Get a Lower Interest Rate Get Quote Vantage Production, LLC is the copyright owner or licensee of the...

March 5th, 2019 | Mortgage News, New Home Sales Rise in December

U.S. Gross Domestic Product Not So Gross

This past week, the Bureau of Economic Analysis (BEA) reported the U.S. economy, as defined by Gross Domestic Product (GDP), grew at a 2.6% rate in the fourth quarter of 2018. Economists and the markets were expecting 2.0% to 2.3%, so this was a nice upside surprise.  This left GDP for all of 2018 at 2.9%. Consumer spending, which makes up nearly two-thirds of GDP, expanded by a solid 2.8% in the fourth quarter - yet slower than the previous quarter.  Another solid number within the report was business investment which grew at a swift 6.2% pace. This Q4 GDP reading was the f...

March 1st, 2019 | Mortgage News, U.S. Gross Domestic Product Not So Gross

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