Pricing Update 2020 December

 The bond market is seeing a rally as the equity market retreats from last weeks record highs: mainly caused by concern with C-19.

Market shifts can be stressful, here is a calming photo to ease your mind. 

How To Get The Lowest Mortgage Rate

 Monitor your credit score and make sure you keep it as high as you can, lenders and investors are constantly looking for that sweet spot, to determine who is the lowest risk, sometimes its 800+, 760+, 740+ but it changes. Just keep your scores as high as possible. 

Here are some ways to do that:

1. Run your credit report once a year for free using the government provided website: https://www.annualcreditreport.com/index.action
2. When you do so, run all three scores and the Experian log in you create should give you access to all three scores, if you need help, just call me, this is free and you do not need to pay for it.
3. If you have a low score and you cant figure out on your own how to increase it using sites like MyFico.com, then contact a pro like Amy Martinez with Rising Point Solutions.
4. Keep an eye on your credit using https://www.rockethomes.com/my-credit. This is completely free they don't even ask for your credit card, however while you are welcome to get a quote from them, the pricing I can offer you with them is much lower than if you go directly to them, be sure to call me or email me for a quote. 

Mike@Emortgage.loans or 123@soez.tv

How Long Does It Take To Close A Loan?

 Right now most of my competition is taking 60 days or longer to close your mortgage and the pricing is not even as good as mine. My loans close in under 30 days or your extension is free, we don't charge you because we take forever to close your loan. 

Unless your self employed or have a HELOC, there is no reason your loan should take more than 30 days to close. My pricing is unbeatable and my service is supreme. Lastly you will end up with the highest rated and largest mortgage servicer in the country. 

Rates 2.69% NO COST 30 YR Fixed Conforming and 2.375% 15 YEAR FIXED

I've been preaching for years that this day would come, here we are. Most clients in the last month locked at 2.69 to 2.99% for free, no points, no fees, no nothing. That is for a 30-year fixed loan amounts over $300k only. Hint's the reason I did not have time to post last month.

Rates will most likely continue down however we could see a period where they are higher and that day could be any day, the amount of time it last, who knows, but if you take the lowest rate for free now, you can always redo your loan again in 6 months. If it's free, what is the cost? 

While it's true the feds implemented a 0.5% fee to raise funds for C-19, less than a week afterwards the market improved by that same amount, just as I predicted would be the case. 

Here are some of the most relevant Real Estate Headlines for November:

 

• 
  Median Home Sales Price increased 15 percent year over year to $322,375 - the largest increase since 2005
•  Of the homes that went under contract, 45 percent had an accepted offer within the first two weeks on the market
• Pending Sales rose 34 percent
• New listings only rose 9 percent from last year, but is the biggest increase since mid-September
• Rates have held below 3 percent since late July

As always, I am here to help guide you through any climate. If you'd like more information on your local market, give me a call and let's discuss. I would love to chat with you to see how I can assist.

Rates Went Down As I Predicted

 I just wanted to toot my horn. Toot, toot.