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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

Blog

 

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

Fed Sits as Congress Splits

"I'm on my way, I'm on my way home sweet home" - Home Sweet Home, Motley Crue Last Tuesday, many politicians went "home" after the midterm election results and the day ended with a split of power between the House and Senate. The markets and the Fed will now be watching to see if the split Congress can deliver a more fiscal policy or get caught in political gridlock. The latter would likely slow the pace of future Fed rate hikes. Speaking of the Fed, they met on Thursday and, as expected, didn't raise rates. However, they offered some good news to both ...

November 9th, 2018 | Mortgage News, Fed Sits as Congress Splits

Mortgage Credit Availability Jumped to Highest Level in 10 Years

Mortgage lenders loosened their mortgage credit standards in October, according to data from the Mortgage Bankers Association. The MBA’s Mortgage Credit Availability Index rose to 186.7, up 2.5% from 182.1 in September and 181 in October 2017. That index reading indicates that there is now more mortgage credit available than at any time since the housing market crashed back in 2008. Lenders appear to be making credit standards slightly more attainable in order to accommodate increased demand among first-time home buyers in Utah.

November 7th, 2018 | Mortgage News, Mortgage Credit Availability Jumped to Highest Level in 10 Years