Anne Galvez, Mortgage Broker NMLS #326513

It's been one heckuva year... let's take a moment to catch our breath and welcome in the New Year! Here's a beautiful rendition of "Auld Lange Syne"... please enjoy it with me. Be sure to turn the volume up!

, : Average mortgage rates last week remained low. Markets were closed early on Thursday and all day Friday for Christmas, as were most lenders.... : Average mortgage rates this week will likely remain about the same, as trading volumes remain light this week ahead of New Years. It is unlikely we will see much movement in rates this week, with little happening in the news or in the markets to cause lenders to have to raise or lower rates significantly. As the year winds to a close, it remains a great time to talk with your local mortgage professional about buying a home or refinancing to take advantage of current low rates. ' : - 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, as will lenders. - 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. - Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates low and generally stable.

, : 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.

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 improved overall for the week, with rates improving most through Wednesday before pulling back to end the week.... : Average mortgage rates this week are hard to forecast, with many variables that could cause rates to fluctuate daily. While rates will remain low into 2021, this week we could see rates go up or down based on the elections, the meeting of the Fed, and economic data. Consumers looking to minimize risk may want to still consider locking and should talk it over with their mortgage professional. ' : - Economic data: This week has lots of economic data, but the data most likely to affect mortgage rates is Friday's jobs data. - Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates low and limiting how far rates could rise. The Fed is unlikely to change policy rates at this week's meeting, but its policy statement could cause influence mortgage rates for the week. - Elections Nov 3rd: Although the election is on Tuesday, it will take days to complete the count of all the votes, including millions of mailed in votes, and could contribute to rate volatility.

- . 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 mortgage Halloween humor... !

, : Average mortgage rates worsened through the week, contrary to some headlines that tracked old data and said rates hit a new low. Still, although rates did get slightly higher, it wasn't a big move.... : , Average mortgage rates this week could show some volatility, depending on how markets trade heading into the elections next week. Rates could improve a bit though after losing ground last week, but the upside potential is limited. Consumers looking to minimize risk may want to still consider locking and should talk it over with their mortgage professional. ' : - Economic data: The week does have a lot of economic data and activity, which could play a small role in rates moving from day to day. - Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates low and limiting how far rates could rise. - Stimulus talks: A stimulus deal still not done, now considered extremely unlikely to be done before the election. - Elections Nov 3rd: Speculation of who will win the presidential election as well as House and Senate seats could cause some volatility this week.

... ? Rates are likely to continue to be volatile as we head into the election in November. If you've been thinking about refinancing, or looking at buying a home, we should talk soon. I'm here when you're ready.

, : Average mortgage rates improved slightly through the week last week but ran out of steam on Friday, pulling back just a bit to end the week.... : Average mortgage rates this week could once again be more volatile than normal, especially with talk that an economic stimulus package could possibly be passed before the election. That means it is a good week to stay in touch with your mortgage lender if you have a loan in process, or if you are thinking of getting a mortgage to buy a home or refinance. ' : - Economic data: The week doesn't have any economic data that is likely to have any great effect on mortgage rates - Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates low. - Stimulus talks: If a stimulus bill is agreed upon and looks likely to get passed before the elections, it would require more debt to be created to fund it, and could put some pressure on mortgage rates - Bond market technical indicators: Mortgage bonds (the bonds that lenders base mortgage rates on) look like they could struggle to improve this week, pointing to slightly worse rates as the week progresses.

"' !" That's what I hear from any of my clients that started out by looking online for mortgage rate information, only to have their phone and email blow up with salespeople hounding them and hassling them at all hours of the day. If you want to learn more about where rates are at, what rates you qualify for, and if buying a home or refinancing makes sense for you... simply contact me at your convenience and save yourself the hassles and headaches. ...I can give you your options, answer all your questions, and make the process convenient and easy. , , . .

, : Average mortgage rates worsened last week, helped along by headlines that Congress was close to passing a stimulus plan.... : Average mortgage rates this week could be more volatile than normal, making it harder to anticipate whether they will move higher or lower. That means it is a good week to stay in touch with your mortgage lender if you have a loan in process, or if you are thinking of getting a mortgage to buy a home or refinance. ' : - Economic data: The week doesn't have any economic data that is likely to affect mortgage rates - Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates low. - Stimulus talks: If a stimulus bill is agreed upon and looks likely to get passed before the elections, it would require more debt to be created to fund it, and could put some pressure on mortgage rates - Bond market technical indicators: After losing ground last week, mortgage bonds (the bonds that lenders base mortgage rates on) look like they could continue to worsen this week. However, that could reverse when the bond market reopens on Tuesday.

" ?" Answer: One of the most confusing aspects of a mortgage is trying to compare interest rates and APRs. Here is a simple explanation to make it easy for you to get a low rate mortgage without the hassle. The interest rate is only the interest that you will pay on the mortgage. Mortgage interest rates are often quoted in .125% increments.... The APR is a calculation designed to more easily compare mortgage offers. It includes the interest rate above, PLUS other fees and costs such as: lender fees, origination fees, discount points, and some closing costs. Some banks and lenders will change what they call certain fees to avoid having to include them in the APR calculation, making it even harder to compare. An APR is required anytime a bank or lender advertises an interest rate, to help get a more accurate comparison. The interest rate and the APR should never be exactly the same unless there are no fees on the loan. ' , . A quick and easy conversation can help make sense of it all, and I can show you how to make sure you're getting a good mortgage offer. Getting a mortgage doesn't have to be a hassle. Let me make it easy.

, : Average mortgage rates were basically unchanged by the end of the week, after being slightly worse midweek.... : Average mortgage rates could get slightly worse this week, although rates will still be near record lows. Rates shouldn't move too drastically, but we could see day-to-day movement making it a great time to stay in touch with your local mortgage professional. ' : - Economic data: The week doesn't have a lot of data to worry about, Wednesday is the day most likely to see rates influenced by data. - Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates stable and low. - President Trump's medical condition: Trump's diagnosis and recovery from COVID-19 has helped spark a stock rally and pressured bonds, pushing rates slightly higher. - Bond market technical indicators: After improving last week, mortgage bonds are starting the week off worse and are poised to go lower, which would bring slightly worse rates or rebate pricing. Rebate pricing is the credit that a lender gives towards closing costs, or the cost to buy down to a better rate, often referred to as points.

The clear winner after yesterday's debate... ... are the people I help to get a great low rate! If you haven't refinanced yet, then we need to talk. I can run the numbers for you, and show you different scenarios where you may be able to free up cash each month or pay your mortgage down faster. I can help you get cash out of your home, or simply refinance the mortgage you have now to get a lower payment.... We can discuss your options anytime, go ahead and reach out to me by text or voice, email, or DM me. And if you are looking to purchase a home, I can help there too. Just reach out and let's talk about it.

For the week of September 28th, 2020 Recap of last week: Rates slightly better Average mortgage rates were slightly better by the end of the week, although not by much as rates remain near record lows.... Mortgage Rate Forecast: Rates will remain low Average mortgage rates will remain low this week, although we could see some small movement day-to-day in rebate pricing. Rebate pricing is the credit that a lender gives towards closing costs, or the cost to buy down to a better rate, often referred to as points. Tough to tell which way rates may go this week, but whichever way we see it shouldn't be any large movement, as rates remain stable and low. It is a good week to stay in touch with your local mortgage professional. What's affecting rates this week: - Economic data: The second half of the week brings a lot of economic data, including jobs and wages data on Friday, that could cause daily movement for rates. - Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates stable and low. - Bond market technical indicators: After improving last week, mortgage bonds start the week at a crossroads, and could either push for a new higher range or fall back which would bring slightly worse pricing.

" " (no opt in required) Fall is here, making it a great time to prepare your home for colder weather and the winter season or to do some deep cleaning. To help you get your home ready, we've put together a comprehensive checklist of tasks that most homes need. This PDF can be used digitally on a phone or tablet, or printed out and taken with you as you perform the tasks.... No need to share any info, no opt in. Simply download for free and use. Get your copy here: https://utm.io/ulKX

, : Average mortgage rates among lenders were slightly worse to end the week, especially for refinances as lenders implemented new Fannie Mae and Freddie Mac adverse market refinance fees. Details on this fee can be obtained from your local mortgage professional.... : Average mortgage rates will remain low this week, and could improve slightly from last week's levels. However, improvements are more likely to come in the form of improved rebate pricing, rather than in rates actually going much lower. Rebate pricing is the credit that a lender gives towards closing costs, or the cost to buy down to a better rate, often referred to as points. Be sure to discuss your unique situation with your local mortgage professional. ' : - Economic data: There's no economic data this week that should influence mortgage rates. - Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates stable and low. - Bond market technical indicators: The foundation for mortgage rates, mortgage bonds, look likely to improve this week which could help mortgage rates and pricing improve.