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U.S. Interest Rates Could Head Significantly Lower!

August 26th, 2014

Kids and Pirates 225x300 U.S. Interest Rates Could Head Significantly Lower!What a summer it has been! Zander is approaching his 4th birthday and the kid is getting scary big. It is so weird having another man (all be it, a little man) roaming your home. The kid looks like he’s 7 years old; it’s truly scary how fast they grow. Z-Man starts Rowland Hall this week and joins the big boys at school. I feel like college is right around the corner and I challenge myself to slow down and share as many personal moments as possible.

Aria is almost 3 and also starts preschool at the Winner School next week. She’s such a princess, often changing clothes 4 or 5 times in an afternoon just to end up in the Princess Anna dress from the Disney movie Frozen. How insanely different are little girls and little boys wired? So much fun to watch these two.

Speaking of insane… I’m hearing some of the best bond and mortgage interest rate forecasters call for significantly LOWER interest rates in the second half of the year.

And guess what? We are starting to see them. Last week I was able to help a client on a Jumbo No Closing Cost, 30 year fixed at 3.875%, the 15 year jumbo was at 3.375%.

Oddly enough, the jumbo mortgage rates have dropped below what conforming interest rates are at the moment. If you have a loan over $417k, you might want to look into a refinance. I can’t ever remember seeing Jumbo No Closing Cost rates so low.

So what’s the catalyst? Why are rates headed lower?

Keep reading

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Good news for home owners and home buyers!

August 25th, 2014

What do you get, when you add foreclosure inventory dropping nationally, interest rates near 4% on a 30 year mortgage and home affordability still near all-time low?

APPRECIATION and consistency in home values! I just love these National Foreclosure Inventory numbers, which are showing huge improvement!
Foreclosure rates 510x1024 Good news for home owners and home buyers!

Thanks to KCMblog for this post.

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Cottonwood Heights Video

August 21st, 2014

Our friends at Utah Cribs have created this great video about the Cottonwood Heights area, including their Cribby Fast Facts. We love this area for its easy access to Big Cottonwood and Little Cottonwood Canyons with the ski resorts and hiking, also for its great shopping and restaurants, gorgeous views of the mountains and lovely canyon breezes. Check this video out!

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Student loan debt shaping the future of home ownership

August 7th, 2014

student loan debt Student loan debt shaping the future of home ownershipThe Wall Street Journal got it right! Student loan debt is shaping the future generation of home ownership. Not only are clients uncomfortable leaving med school with 6 figures in debt and then packing another big six figure loan for a home, but even if they were comfortable with the debt structure, many cannot qualify due to how conventional loans count even deferred or zero payment student loans against their debt to income ratio. The take-away is more doctors, nurse practitioners, physician assistants, dentists and graduate students have become renters, making their landlords wealthy, but missing the opportunity to buy for themselves. Here is an excerpt from the article:

One of the biggest fears today in the real-estate industry goes something like this: Rising student debt is going to freeze millennials out of the housing market.

Data from a top national lender shows that loan applicants with student loans aren’t being turned down more often than those without debt. But the data also show that even small changes in the size of a loan applicant’s monthly debt payments can make a big difference in whether a loan gets approved.

Keep reading

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