Adam Tice, Mortgage Lender NMLS #289398

, : Average mortgage rates got significantly worse last week, after the threat of a strongly improving economy and inflation pressured rates higher as anticipated.... : Average mortgage rates are likely to continue to get worse this week. It is a good time to discuss locking in a rate with your mortgage professional and to assess your options. Although rates are moving higher, they are still near all time lows and it remains a good time to consider buying or refinancing. ' : - Stimulus package: The impending passage of President Biden's $1.9 trillion relief package continues to push rates higher as markets prepare for the influx of debt needed to fund the bill and the anticipation that it will contribute to overheating the economy and causing inflation (which is bad for rates). - Economic data: Housing data being released this week will not affect rates, but GDP data, along with spending data and inflationary data late in the week could affect rates. - Fed testimony: Fed Chair Jerome Powell has his semi-annual update on the economy hearings before Congress this week, and his words could cause some movements in markets, affecting rates.

? Well, that depends. ' but putting it off thinking low rates would be around for awhile or waiting for rates to hit bottom, then it means it is time for us to talk. ... Procrastinating from here could cost you money, so you might want to make a conversation a priority. ' , rising rates are not something to panic about. Rates remain very near record low levels, and although they are creeping up a bit they won't keep rising for long. You should however reach out to me so we can discuss if it affects your purchasing power, and how much of a payment change you may see. For most borrowers, it will not be a large monthly increase, and in some cases may simply mean a little bit more in closing costs to get that same low rate you've had your eye on. , . Let me take the guesswork out of it, and I can help you take the right steps to get a great low rate before rates go up too much further. You can call or text me, or reach out by private message or email... whatever is easier for you. .

, : Average mortgage rates ended the week slightly worse after improving through the middle of the week. ... : Average mortgage rates are likely to get worse this week, creeping up from all time lows. It is a good time to discuss locking in a rate with your mortgage professional and to see if it is an option. Although rates are creeping higher, they are still near all time lows and it remains a good time to consider buying or refinancing. ' : - Stimulus package: President Biden's $1.9 trillion relief package is front and center now that the impeachment trial is over, and expectations that a bill will be passed soon are pressuring rates slightly higher. - Economic data: Although this week has some economic and housing data, it isn't likely to be much of a market mover and shouldn't affect rates. - Fed bond purchases: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates low and generally stable. - Bond pricing: Lenders set mortgage rates based on the pricing of mortgage bonds, and bonds are worsening to levels we haven't seen in months, pointing to at least slightly higher rates.

What's stopping you? (I know it's got to be something...) , ' ... , ' . ' . , ' .... Got some concerns about your credit? Don't worry, I've helped many folks with some credit blemishes or past issues get refinanced or buy a home with these low rates. Think rates will go lower or housing prices will drop? Let's talk about it, and I can show you what waiting is costing you (even if you were to be right). Just bought your home a few months ago or refinanced already in the last year and think it isn't worth checking into again? You may be right, but let's discuss to be sure. I've been able to save clients hundreds of dollars a month, thousands a year, tens of thousands over the next few years... can you really walk away from that kind of money? You don't have to, just reach out and let's discuss it. And if you know of a friend or family member who I should be talking to, please put them in touch with me. I'm here to help, no matter how busy I am at the moment!

, : Average mortgage rates last week remained low, and in some situations were slightly better than the previous week.... : Average mortgage rates this week will likely remain about the same, as underlying market conditions slow down ahead of the Christmas holiday. Also, lenders won't be looking to lower rates and take on an influx of new business this week, making it unlikely to see any significant improvement in rates. Rates are not at risk of moving much higher from current levels between now and the end of the year, making it a great time to talk with your local mortgage professional about buying a home or refinancing the home you currently own. ' : - Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates low and generally stable. - Holiday week: Mortgage rates are largely based on the pricing of mortgage bonds, and the bond market will be closed early on Thursday and remain closed on Friday. - Lender capacity: Lenders continue to struggle with volume constraints, making it unlikely they would push rates significantly lower this week, although small movements are possible.

, : Average mortgage rates last week remained low, and in some situations were slightly better than the previous week.... : Average mortgage rates this week will remain low, and are unlikely to move up or down much. Most movement will come in the form of better rebate pricing, the credit a lender gives you towards your closing costs or the cost to obtain a lower rate, usually referred to as 'points'. ' : - Covid-19: An increase in covid cases and hospitalizations has some areas of the country going back to lockdowns or implementing business curfews. The effect will be bad for the economic recovery, helping to keep rates low for the near term. - Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates low and stimulating the economic recovery. - Economic data: A couple of Treasury auctions, and some data on inflation later in the week could have a small effect on rates this week, but not much. - Stimulus talks. Markets have priced in a stimulus package to get done this month, which put some pressure on rates and pricing due to added debt and more Treasury supply in the bond market.

You have likely heard the ads... "Push button. Get mortgage" Is it really that easy? Not yet it's not... The truth is that there are many different mortgage programs out there, and which one you choose can affect your interest rate, your payment, and even the amount of money you will need to put down.... Making a mistake could cost you hundreds of dollars a month and thousands (or even tens of thousands!) of dollars over the life of your mortgage. Or, it could mean that you have to put down more money than you really needed to. Even with the right program, a lot can go wrong during the mortgage process. Don't you want a human on your side to help guide you through the problems and make it go smoothly and hassle free? I can do that for you. , ' . ' , ' . ' .

, : Average mortgage rates last week remained largely unchanged as markets and lenders closed for Thanksgiving.... : Average mortgage rates this week are likely to improve at least slightly from last week, but could still vary day-to-day. Most improvements will come in the form of better rebate pricing, the credit a lender gives you towards your closing costs or the cost to obtain a lower rate, usually referred to as 'points'. ' : - Covid-19: An increase in covid cases and hospitalizations has some areas of the country going back to lockdowns or implementing business curfews. The effect will be bad for the economic recovery, helping to keep rates low for the near term. - Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates low and stimulating the economic recovery. - Economic data: There isn't a lot of data this week, but Friday's jobs data could impact rates and pricing. - Weak economy: Increased unemployment and reduced consumer spending, especially in the holiday season, are likely to weaken the economy and see rates benefit.

- . It helps lenders determine how likely you are to repay a loan. For a mortgage, the FICO score is also a big factor in what interest rate you will be offered. . It measures how long you've had credit, how much credit you have, how much of your available credit is being used and if you've paid on time. FICO Scores are calculated us...ing many different pieces of credit data in your credit report. This data is grouped into five categories: payment history (35%), amounts owed (30%), length of credit history (15%), new credit (10%) and credit mix (10%). The FICO score that a mortgage lender uses is not usually the same as one you may get on your own, through services like CreditKarma. Your FICO Scores consider both positive and negative information in your credit report. Late payments will lower your FICO Scores, but establishing or re-establishing a good track record of making payments on time will raise your credit score. ' , , . ' .

Just a little something to make you laugh... , !

! The conforming loan amount is going from $510,400 to $548,250 in 2021. If you'd like to know how that affects you, let me know and I'll be glad to go over it with you. , ' , ' .

, : Average mortgage rates last week improved slightly, as concerns over increasing covid numbers and subsequent lockdowns and slowdowns pushed investors to the safety of bonds.... : Average mortgage rates this week will remain low heading into the Thanksgiving holiday, and are unlikely to get significantly better or worse. The outlook heading into December is that rates may continue to improve in small increments, although some days will continue to have better pricing than others. ' : - Possible lockdowns: An increase in covid cases and hospitalizations has some areas of the country going back to tightening restrictions and lockdowns, and implementing business curfews. The effect will be bad for the economic recovery, which helps to keep rates low for the near term. - Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates low and limiting how far rates should rise in the near term. - Economic data: The data on the calendar this week is not likely to have a big effect on rates. - Thanksgiving: Bond markets will be closed on Thursday and will close early on Friday.