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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

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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

November New Home Sales Surge!

The partial government shutdown ended last Friday so the delay of sales of newly built homes for November was reported today with a big number. November New Homes Sales jumped 17% from October to an annual rate of 657,000 units, well above the 555,000 expected. However, sales were down 7.7% from November 2017. Across the country, sales jumped 100% in the Northeast, up 30.5% in the Midwest, up 20.6% in the South with a 5.9% decline in the West. There was a six-month supply of homes for sale om the market which is seen as normal. A solid report though somewhat backward looking due to the delay i...

January 31st, 2019 | Mortgage News, November New Home Sales Surge!

Lower Interest Rate Trend Continues as We Honor MLK

Home loan rates finished this week near unchanged and remain near 9-month lows - so we have that going for us. Most of the week's news was pretty bond friendly, including Brexit uncertainty, ongoing Government shutdown, ongoing US/China trade dispute, low inflation and more. So why haven't rates improved further with these bond-friendly tailwinds? The first Friday of 2019 was the day things changed for the Bond Market when a blockbuster Jobs Report and overly "dovish" Fed Chair Powell speech were delivered, which has helped Stocks move steadily higher at the expense ...

January 18th, 2019 | Mortgage News, Lower Interest Rate Trend Continues as We Honor MLK