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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

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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

Mortgage Applications Rise as Interest Rates Fall

More Utahns applied for mortgage loans this week, according to the Mortgage Bankers Association, in response to a three-week trend of falling interest rates. The MBA's mortgage application volume index rose 2% from the week before but is still down 19% from one year ago. Refinance loan requests made a big jump, climbing 6% while home purchase applications only increased by 1% in the latest week.   Get a Rate Quote Get Quote

January 3rd, 2019 | Mortgage News, Mortgage Applications Rise as Interest Rates Fall

Bonds Partying Like it's 2019

The financial markets had plenty to cheer about this week. On Wednesday, Stocks rallied a stunning 1,000+ points, enjoying their best one-day gain in history and then rallied over 800 points higher intraday on Thursday, erasing a huge midday loss. All in all, a great and welcome week in what was otherwise a miserable December for Stocks. Typically, higher stock prices mean higher mortgage rates but that wasn't the case this holiday week. Yes, Bonds moved slightly lower and home loan rates slightly higher, in Utah, in response to the swift Stock rally, but rates ended the week and h...

December 28th, 2018 | Mortgage News, Bonds Partying Like it's 2019