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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

Blog

 

"It's a Tug of War, We Expected More"... Tug of War, Paul McCartney

Home loan rates bounced around this week, due to volatility in the U.S. Bond market, but went into the weekend still near three-month lows. There are push/pull items that continue to limit how low and high rates can go. Here is what home shoppers should know: Factors currently limiting how low rates can go: Tight U.S. labor market. Rising wages, fastest pace in a decade. Soaring business and consumer confidence. Solid economic growth. Tough technical barriers Factors currently limiting how high rates can go: Slowing economic conditions around the globe. Low glo...

December 14th, 2018 | Mortgage News, "It's a Tug of War, We Expected More"... Tug of War, Paul McCartney

Mortgage Lenders Loosen Credit

Mortgage credit was more readily available in November to borrowers, as lenders loosened their underwriting standards slightly, according to the Mortgage Bankers Association. The MBA’s Mortgage Credit Availability increase 1.1% from October to a reading of 188.8, the highest level since the housing crash. Lenders have been making more loan programs available to those with lower credit scores and higher loan-to-value ratios, in response to growing demand among first-time homebuyers, the MBA said.

December 11th, 2018 | Mortgage News, Mortgage Lenders Loosen Credit

"We want what we don't have, be careful what you ask for"... Everclear

As it pertains to low interest rates "Be careful what you ask for" - it will likely take pain, chaos, fear and uncertainty to get them.  This past Thursday, thanks to uncertainty around the U.S. and China trade deal, fear of slowing global economic growth, a roughed-up Stock market and the likelihood of fewer Fed rate hikes, the Bond market and home loan rates hit their best levels in three months.  On Friday, the Labor Department reported that 155,000 jobs were created in November, a bit less than expectations of 189,000. The labor market remains incredibly strong an...

December 10th, 2018 | Mortgage News, "We want what we don't have, be careful what you ask for"... Everclear

Mortgage Applications Rise as Rates Fall for Third Week

More mortgage borrowers turned in loan applications this week, according to the Mortgage Bankers Association, in response to another week of falling interest rates. The MBA’s Mortgage Composite index – a measure of mortgage application volume - rose 2% during the week ended Nov. 23, 2018, while mortgage rates dropped for the third straight week to 5.08%. Refinance applications were more popular as rated declined, making up 40.4% of all requests, an increase from 37.9% the week before.

December 7th, 2018 | Mortgage News, Mortgage Applications Rise as Rates Fall for Third Week

Home Price Gains Slow Down in October 2018

CoreLogic reports that home prices, including distressed sales, rose 5.4 percent from October 2017 to October 2018. That is down from the 7 percent gain seen year over year in March of this year. On a month over month basis, prices rose 0.5 percent from September 2018 to October 2018. Looking ahead, CoreLogic sees a 4.8 percent increase from Oct0ber 2018 to October 2019. Frank Nothaft, Chief Economist at CoreLogic says, "Rising prices and interest rates have reduced home buyer activity and led to a gradual slowing in appreciation (in prices)." This is good news for Utah homebuyers.

December 4th, 2018 | Mortgage News, Home Price Gains Slow Down in October 2018

Fed Chair Powell, a Prince to the Markets

"This is what it sounds like when doves cry"... Prince We heard "doves cry" this week when Fed Chairman Jerome Powell spoke in NYC on Wednesday. Doves are people who offer peaceful polices, so upon Mr. Powell's soothing speech both Stocks and Bonds moved nicely higher, with home loan rates hitting their best levels in nearly two months. Some of Mr. Powell's market-comforting words included: We know that moving too fast (hiking rates) will risk expansion It may take a year or more to fully realize the effects of hikes The Fed doesn't see "d...

November 30th, 2018 | Mortgage News, Fed Chair Powell, a Prince to the Markets