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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

Blog

 

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

Home Builder Sentiment Rises as Mortgage Rates Fall

U.S. homebuilders are feeling more optimistic about their market since mortgage interest rates started falling in November, according to the National Association of Home Builders. The NAHB builder sentiment index rose 2 points in January, after falling sharply for the two previous months. The decrease in interest rates has slightly increased affordability, leading to more buyer traffic through model homes and pushing up builder sales expectations for the next six months.   Pre-Qualify for a New Home Get Quote

January 17th, 2019 | Mortgage News, Home Builder Sentiment Rises as Mortgage Rates Fall

When the Trend is No Longer Your Friend

"We are good where we stand right now"... Fed President James Bullard - 1/10/19 Stocks continued to react positively to Fed Chair Powell's Jan 4th speech, where he essentially said, "we have your back"...meaning that the Fed will be "flexible" and may not raise rates at all in 2019. There is an old saying in the financial markets - "don't fight the Fed." This means that if the Fed is saying or doing something (hinting no rate hikes) that helps Stocks, that theme will continue until the story changes. Typically, when stocks move higher,...

January 14th, 2019 | Mortgage News, When the Trend is No Longer Your Friend

Mortgage Applications Jump by Almost 25%

A major dip in U.S. and Utah mortgage interest rates resulted in a 23.5% jump in home loan applications in the latest week, according to the Mortgage Bankers Association. As rates on conventional 30-year fixed-rate mortgages fell to 4.64% from 4.74% the week before, requests for both refinance loans and home purchase mortgages skyrocketed by 35% and 17%, respectively. The refinance share of mortgage applications increased to 45.8%, up from 42.7% the week before and is the highest reading in 11 months.   Get a Lower Interest Rate Get Quote

January 10th, 2019 | Mortgage News, Mortgage Applications Jump by Almost 25%

A Bad Apple Helps Home Loan Rates

"Workin' for a Livin"... Huey Lewis and the News  iPhone maker, Apple, was a downer this week as the company announced a surprisingly weak sales and earnings forecast for the first quarter of 2019. Stocks and interest rates fell on the bad news, concerned that Apple, the first big tech firm to report weak growth in 2019, is the "canary in the coal mine" and that more companies will report weaker sales and earnings.  Regardless of Apple's current woes, the U.S. economy is still humming along as was evident in Friday's Jobs Report which showed a...

January 7th, 2019 | Mortgage News, A Bad Apple Helps Home Loan Rates