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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

Blog

 

"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

FHFA Announces Maximum Conforming Loan Limits for 2019

Fannie Mae and Freddie Mac Baseline Limit Will Increase to $484,350 Washington, D.C. The Federal Housing Finance Agency (FHFA) today announced the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2019.  In most of the U.S., the 2019 maximum conforming loan limit for one-unit properties will be $484,350, an increase from $453,100 in 2018.  Baseline limit The Housing and Economic Recovery Act (HERA) requires that the baseline conforming loan limit be adjusted each year for Fannie Mae and Freddie Mac to reflect the change in the ave...

November 27th, 2018 | Conventional Loans, Mortgage News, FHFA Announces Maximum Conforming Loan Limits for 2019

Home Price Gains Solid in September 2018

The September Case-Shiller 20-City Index rose 5.1 percent from September 2017, just below the 5.3 percent expected and down from 5.5 percent in August. Month over month was unchanged. The slower pace of gains is to be expected and with faster-rising wages, it represents a healthier market. "Home prices plus data on house sales and construction confirm the slowdown in housing with one factor contributing to the weaker housing market is the recent increase in mortgage rates," says David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices.

November 27th, 2018 | Mortgage News, Home Price Gains Solid in September 2018