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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

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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

Have Home Loan Rates Found a Bottom?

"Yeah I'm Free, Free Fallin'"... Free Fallin" by Tom Petty The old adage of "Stocks go down, Home Loan Rates go down" didn't work this past week. Stocks started the week with the Dow Jones Industrial Average fallin' nearly 1,000 points through Tuesday. Typically, as Stocks decline, we see home loan rates improve as the investment dollars find their way into Bonds. That was not the case this week. Bonds and home loan rates hardly moved. Why? Despite the bad selloff in Stocks, nothing in the U.S. economy has changed, the labor market remains...

November 21st, 2018 | Mortgage News, Have Home Loan Rates Found a Bottom?

Brexit Concerns, Strong Buck Helping Housing Market

"This ain't love, it's clear to see. But darling, stay with me"... Stay with me by Sam Smith It's clear to see there "ain't" much love in the process of the U.K. leaving the European Union (EU) in the so-called "Brexit." The long-awaited Brexit agreement was dealt a big blow this past Thursday when two top Brexit officials and four Jr Ministers quit - citing the deal Prime Minister Theresa May reached with the EU was no good. What does it mean for housing? The U.S. Dollar, U.S. Bonds, and home loan rates benefitted from the Brexit cha...

November 20th, 2018 | Mortgage News, Brexit Concerns, Strong Buck Helping Housing Market

Available Mortgage Credit Jumps to 10-Year High

After falling in September, the amount of available mortgage credit jumped to a new post-housing crisis high in October, according to the Mortgage Bankers Association. The MBA’s Mortgage Credit Availability Index rose to 186.7, up 2.5% from 182.1 in September and up from 181 a year ago. An increase in the index indicates a loosening of mortgage credit standards. The jump was likely in response to a pickup in demand among first-time homebuyers. This is good news for Utah homebuyers.

November 19th, 2018 | Mortgage News, Available Mortgage Credit Jumps to 10-Year High

Retail Sales Rebound Sharply in October 2018

As the holiday shopping season unfolds, retailers were giddy in October due in part to strong sales for motor vehicles and building materials. Retail Sales jumped 0.8 percent versus the 0.5 percent and up from 0.1 percent in September. It was the largest increase since May's gain of 1.2 percent. The Core rate rose 0.7 percent, above the 0.5 percent expected. Consumer spending accounts for more than two-thirds of U.S. economic activity.

November 15th, 2018 | Mortgage News, Retail Sales Rebound Sharply in October 2018