Signet Mortgage Corporation: Clay Selland NMLS #183492

If you are considering buying a home, this may help clarify things. If it prompts questions, please let me know! I'm here to help!

, : Average mortgage rates worsened slightly through the week, pressured higher from moves taken by Congress to lay the groundwork for passing President Biden's large fiscal stimulus plan.... : Average mortgage rates could go either way this week, depending on how markets move. Stocks continue to push higher, and bonds may be pressured which could cause rates to worsen. Rates aren't likely to move too quickly though, and instead we will likely see small day-to-day movements in rebate pricing, the credit a lender provides towards closing costs based on what rate you choose, or the cost to obtain a lower rate (often called 'points'). ' : - Stimulus package: Talks surrounding Biden's $1.9 trillion relief package could pressure rates slightly higher. - Economic data: Wednesday's inflation data and 10yr Treasury auction could cause some movement. - 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 we could see a little bit of improvement in bonds

! Groundhog Day, held on February 2nd, is when we ask, "Are we in for six more weeks of winter?" Only a groundhog named Punxsutawney Phil knows for sure... ( !)... Each year on Groundhog Day, people flock to Gobbler’s Knob in Punxsutawney, Pennsylvania, to await the forecast of the local rodent celebrity. Originating with German settlers, who came to Pennsylvania in the 1700s and brought their seasonal superstitions with them, legend has it that if Phil sees his shadow on February 2nd, the winter chill will continue. Oddly, if the weather is cloudy and he doesn’t see his shadow, we can expect warmer temperatures and early spring. Groundhog Day is a tradition to be cherished... as are these low mortgage rates! (see what I did there?) , : ...but not necessarily 6 more weeks of record low mortgage rates! , , , , . Or, just reach out and we can complain about the six more weeks of winter yet to come!

, : Average mortgage rates improved slightly midweek before losing ground to end the week basically unchanged. The improvements were small, mainly improving rebate pricing rather than actually improving rates. Rates remain near record lows.... : , Average mortgage rates will remain low, but may end the week at least slightly worse depending on how markets perform this week. We may also see some small day-to-day movements in rebate pricing, the credit a lender provides towards closing costs based on what rate you choose, or the cost to obtain a lower rate (often called 'points'). ' : - Economic data: Not much to worry about this week, but Friday's jobs data could cause some small movement for rates and pricing. - 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, which face technical resistance in improving further. This points to the possibility of rates getting slightly worse, while unlikely to improve much from here.

Items to consider when making a purchase. #mortgagebroker #homeloan

New 5.0-star Review: "I am a real estate broker and used Clay and Signet Mortgage for the refi of my home during the crazy Covid-19 times. A couple lenders were bogged down and idiosyncratic in their underwriting which proved to be very frustrating. Others seeking to refinance also seemed to be meeting with unreasonable delays and demands by lenders. But Clay and Signet Mortgage are persistent!! They found a lender who had more efficient underwriting and refinanced me! Clay and his team could have given up on my refi but they didn't. In fact, with the delays rates kept gradually coming down so I ended up with a better rate after the delay versus if there has been no delay. Clay's team is immensely pleasant and professional. Thank you, Clay!"

, : Average mortgage rates remained low but were slightly worse ending the week, as Democrats won both Georgia Senate seats and control of the House, Senate, and Presidency.... : Average mortgage rates will likely get worse this week as markets anticipate much more fiscal stimulus to come when President-Elect Biden takes office. Now that Democrats have control of Congress, it makes it easier to roll out new fiscal stimulus plans with multi-trillion dollar price tags. The plans would be paid for with additional debt, pressuring Treasury yields higher and causing mortgage bonds to lose value, which would pressure mortgage rates to creep up higher. ' : - Economic stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping to keep rates low and generally stable, even in a rising rate environment. - Economic data: Reports on inflation, as well as a couple of Treasury auctions, could put some pressure on mortgage rates this week. - Economic recovery: With vaccine distribution, fiscal stimulus, and job creation in some sectors despite rising virus numbers, markets remain optimistic of the economic recovery, pressuring rates.

New 5.0-star Review: "Clay and his Team have assisted us for the 2nd time in securing a competitive mortgage. Clay had diligently kept us informed of current and forecast market movements in the past 18 months so we could make an informed decision about refinance timing. Clay kept multiple plates spinning during the process, accommodating our unique circumstances. While the whole process took many weeks to conclude Clay's patience and good will endured through the entire duration. I endorse Signet to anyone seeking a broker who is committed to serving your best interests."

Did you know today is Houseplant Appreciation Day? This day is set aside to remind people the benefits of houseplants. They take in carbon dioxide and give off oxygen, they provide opportunity to teach children to grow and care for something, and they provide beautiful color and life to the nooks and corners in your home!

New 5.0-star Review: "Clay and team expertly helped us navigate the myriad loan choices for our situation. He then doggedly worked in a very high-demand loan environment to bring things to a close. I have worked with Clay for years now and always feel like he has our best interest in mind (no pun intended). He answers my questions quickly and professionally, and reaches out when he sees opportunities for us to improve our debt situation."

New 5.0-star Review: "Clay and his team at Signet Mortgage helped me tremendously by helping me refinance my mortgage in December 2020. I would recommend him without any hesitation to anyone looking for a purchase loan or refinance of a current mortgage. About 10 years ago Clay referred me to another company when I needed a loan modification. Though he received no profit or benefit from the referral, he had thoroughly screened several modification companies, including meeting the owner of this company in person, before being willing to recommend them to his clients. I will be able to pay off my house mortgage much sooner due to Clay Selland and Signet Mortgage."