August 2019 Residential Lending Successes and News

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Good morning to the Welcome News of Summer !!!

Mortgage Rates are coming down – .\

DON’T MISS OUT.

Lowest since January 2018 – Call for the latest. 

Latest Data:

30-year fixed-rate mortgage averages 3.60%for the week ending Aug. 8, 2019, down 15 basis points from 3.75% – Freddie Mac Primary Mortgage Market Survey. This is almost one full percentage point lower than 4.59% this time last year. Freddie’s chief economist Sam Khater offers: “…” consumer sentiment remains buoyed by a strong labor market and low rates will continue to drive home sales into the fall.”Bottom line: Let’s talk. Opportunity awaits. 

Comment:

Beinga contrarian to the oft repeated headlines that sell fear, our residential market says now is the time to buy. August typically sees a drop in value and a slowing of sales. And now with this dramatic drop in mortgage rates – troubles in China and EU – now is an excellent time to get the most bang for your buck. Now is the time.

Are you renting, watching, and waiting? Call forour market-based calculations for renting vs owning. Answers can be rewarding and a quick call will help make clear how favorable these time of low-interest mortgage are. 

Ownyour own home? Let’s talk over the many benefits of refinancingtoday? We can help you decide why now maybe the best time to lower payments, consolidation debt, or plan for fall projects. We are ready today to help build your better, more simplified tomorrow. 

Don’t put off your Summer projects or consolidating credit card debt – CALL today!

The Good News: Our 30-plus years of putting your needs and questions first. This includes my technical expertise and gained experience. What I love best, my energies are activated and ready to go, with our first conversation. Your views and visions is where it begins. Let’s talk.

Our Goal: Helping you find a safe, sound, and secure loan. It is why every conversation matters and why we offer you the full benefit of our skills and talents, from start to finish. 

Points of interest:

  • Interest Rates:Some EU economies are tipping towards recessionary levels. In response, they are lowering rates. Will this impact us? We will be watching carefully. Of concern to me, are debt levels and needed cash-flow to make payments. Steady, stable economies, free of political influence, seems critical. Let’s hope pettiness does not interfere with what is best for our middle-class and innovative small business. 
  • Stock market:Equities behaving oddly, due to computer trading, even as US business does fine. Trade conflict has the potential damage China the most, as 4 % of their trade is with the US, whereas 0.75 % of our trade is with China. Watch for liquidity issues.
  • Incomes:1)Atlanta Fed reports annual wages have grown 2 – 4 %, adjusting for inflation. 2) Three times more people are getting diplomas today, due to student aid. This helps explain why student loan debt has grown at the same rapid pace. 
  • Real Estate:Real estate marketsshow some slowing. Yet May increase was 0 .9 %, with June appreciation estimated at + 0.8 %. For the year, 2019 estimatesNationallyare up 5.6 %. Key: fundamentals of supply vs demand. Low supply vs demand = price appreciation. Considering new, lower mortgage rates, expect this rate to accelerate. Don’t miss out.

Market News

  1. Overall Home Values: Trend lines of new supply vs demand growth for housing – a general trend of 7 plus year – remains favorable towards homeownership. Great trend lines

2) Unemployment:Job growth – my favorite component for economic strength – remains positive. Consider as well that even thought the overall unemployment rate was unchanged, the equally important rate – the U-6 rate – actually declined from 7.2 % to 7.0 %. More Good News:Wage growth is now up 3.2 %,year-over-year, with last month rates being 3.1 %. Even more:Productivity is outpacing wage growth, meaning inflation remains in check. Excellent.

Conclusion:The world is unsure, but our American consumer says we are doing quite well. 

Recent Residential Success Story:

Refinancing:Refinances are up. Long term rehabbers and flippers are again seeing the opportunity and availability of 30-year fixed rate loans. Call today to learn more.

For self-employed: Do you have great bank deposits, yet show low income on your tax returns? We are offering loans based on bank statement and stated income. Call for details.

Capital Gain Tax-Deferral:Have a client – with California investment property – choosingnotto sell? Because of Capital gains?We have IRS approved ways to defer such problems and keep all your clients money working for them – and their future goals. Don’t miss out. Call. 

Buying your next home:How about a “tool” using the old, as collateral for the new home? We also offer a tools where the current, “old” home payment, does not count against you, while you get moved and settled. You need options and alternative ideas? Call today.

Because You Matter

With all that our letters discuss, if questions come to mind, lets talk. I would love to help answer them. It is what I love about my work – people to people, person to person. I am here to offer guidance, plus a complete set of helpful tools, to find answers that meet your needs.

Knowing you, individually, has proven the best way to best serve you – your unique needs and dreams. Thank you for your trust and your referral. Each is greatly appreciated.

Call me – Your success is my success. 

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