mortgage rates: What is a 3-2-1 Temporary mortgage rate buydown? - 11/20/22 12:39 PM
DON’T LET TODAY’S INTEREST RATES KEEP YOU FROM BUYING A HOME
We’re expanding our Temporary Mortgage Rate Buydowns to help you receive even bigger savings of up to 3% off your initial rate. Choose from 3-2-1, 2-1, 1-1 and 1-0 buydowns, available immediately!
They’re available for conventional, FHA and VA borrowers who need a lower rate at the start of their loan — or additional money for expenses like furniture or upgrades.
What is a temporary buydown and how does it work? Reader question. “We were talking to a mortgage broker via email and one thing he suggested was a 3-2-1 temporary mortgage rate … (3 comments)

mortgage rates: Get A Second Opinion on a Mortgage Rate - 10/04/22 06:10 AM
Getting A Second Opinion on a Mortgage RateA second opinion can prove to be very valuable. You should always seek out another opinion after a doctor gives you a shocking diagnosis. This applies to car repairs or air conditioning systems too. Second opinions are common in many industries and situations. Why wouldn’t you apply the same logic to your mortgage as well? While many borrowers will accept the word of a mortgage lender as law, it is always a good idea to get a second opinion on your mortgage. It’s always better to be safe than sorry, as the old saying goes.
Consumer Finance Protection Bureau reports that borrowers … (3 comments)

mortgage rates: Mortgage Rates Jump to Over 7%! Is It Time To Panic? - 09/29/22 01:40 PM
Mortgage Rates Jump to Over 7%!  Is It Time To Panic?Mortgage Rates have increased to 6.83% for conventional loans for a national average as of September 16th, 2022 but historically that is not too bad.  FHA, VA, and USDA  mortgage rates are near 5.75% nationally.  This is the highest mortgage rates have been since 2002.  But it is not something to panic about.
The federal reserve is likely to take steps to increase the interbank offering rates by another .75 points at the next meeting.  This will have an immediate impact on credit cards, HELOCs, and bank loans. These rates are built into the … (2 comments)

mortgage rates: Rising Mortgage Rates Force Buyers to make offers - 05/18/22 06:52 AM
Rising Mortgage Rates Force Buyers to make offersYou’ve likely heard that mortgage rates have risen and you are considering buying a home . It’s normal to wonder how mortgage rates will affect your homeownership plans, since they have risen by 2 percentage points.
Buyers are responding in one of two ways today. They’re either buying now to avoid higher rates or waiting for rates to fall. We will look at the context to help you understand why so many buyers are taking action and not waiting for rates to drop.
How the Current Mortgage Interest Rate Compares with Years PastHow today’s mortgage rates compare with historical data could be … (1 comments)

mortgage rates: Lock your mortgage rate at pre-qualification | Why that is important - 11/09/21 07:17 AM
Introducing our Mortgage Rate Lock & Shop Program.Traditionally, home buyers are unable to lock in an interest rate until they have found a home and executed a purchase contract. Most mortgage lenders will not allow you to lock in the interest rate until they receive an executed purchase contract. That’s normally okay in a declining interest rate market but when interest rates are going up, that could cause some problems.
I’m proud to introduce our Lock and Shop mortgage rate program. The lock and shop program allows homebuyers to lock in the interest rate once they have completed a full application and … (1 comments)

mortgage rates: Are you concerned about rising mortgage rates? - 05/06/21 09:18 AM
It’s a question many people are pondering as they try to decide whether now is the time for them to buy a home. Mortgage rates are still low, but if you wait until rates go up, then it will cost more money.  Basically, for every 1% increase in interest rate, the average buyer will see a $50,000 reduction in the amount of home they can qualify for.  If you couple that with the increase in home values, waiting could really cost you.
According to Redfin, In April 2021, Dallas home prices were up 17.1% compared to last year, selling for a median … (0 comments)

mortgage rates: Mortgage interest rate up date | 🏡 2nd Chance Home Loan Program - 10/26/18 03:03 PM
Mortgage Interest rate update for Dallas Texas October 26, 2018.   Current Mortgage Rate Trend Direction:  Modestly higher
Advise for Clients for mortgage rate lock: Continue floating as Stocks endure pain, for now
Disappointing earnings from Google and Amazon are pushing Stocks lower again this morning while giving Bonds a boost higher.
Today’s drop in Stocks comes after yesterday’s 400-point gain for the Dow as the extreme volatility continues in the equity markets.
The first read on Q3 GDP rose 3.5% versus the 3.3% though down from the 4.2% seen in Q2 – but still very strong – leaving the year over year rate at 3.00%. … (0 comments)

mortgage rates: Mortgage Rate Update for Dallas Texas September 21st 2018. - 09/21/18 01:29 PM
Mortgage Rate Update for Dallas Texas September 21st 2018.  Mortgage rates are trending higher this week and look to continue that trend absent some unforeseen event. The yield on the 10 year bond has reached a 5 year high which normally signals higher interest rates.
The Fed has been scaling back its purchases of mortgage-backed securities and to that end will discontinue mortgage-backed securities purchases October 1. Because they will no longer be purchasing mortgage-backed securities this could lower demand. The lower demand will more than likely result in higher yields to investors and subsequently higher interest rates to borrowers.
If you would like to … (0 comments)

mortgage rates: Dallas Texas Friday Mortgage Rate Update for Week ending 09/14/2018. - 09/14/18 01:18 PM
Here is your Dallas Texas Friday Mortgage Rate Update for Week ending 09/14/2018.
From Zero Down to $3Million Jumbo.  I offer, Conventional, FHA, VA, USDA, Jumbo, Construction, Renovation, and special loans for Divorcing couples.  I can help you know what is the best program for you.  Find some of our loan options here.
Get your free customized mortgage plan today by calling 214.945.1066 or apply online.
Richard Woodward, NMLS 217454
Your Local, Direct, 5 Star Rated Mortgage Lender, Specialty Lending Manager
Office:  (214) 945-1066
www.mortgageprosus.com/5-star-reviews
Service First Mortgage  NMLS 166487
6800 Weiskopf Ave #200, McKinney, TX 75070
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mortgage rates: Dallas Texas Mortgage Rates | February 2018 - 02/16/18 03:17 PM
Dallas Texas mortgage rates increased roughly 0.50% this month.  Interest rates are almost 1% higher than their lowest point over the last 12 months.  The stock market, perceived tax cuts, and fears of inflation have all combined to impact interest rates negatively.
If you are even remotely interested in purchasing a new home or refinancing in Dallas Texas or anywhere in Texas for that matter, we should talk. I have helped hundreds of my clients save many thousands of dollars over the course of my career.  I would love to help you as well.
Just like mortgage rates, Dallas home values continue to … (0 comments)

mortgage rates: Mortgage rates update for Dallas Texas - 01/19/18 03:15 PM
Mortgage rates update for Dallas Texas for January 19, 2018. Mortgage rates climbed higher this week as a result of the bullish stock market. The stock market was pushed higher on economic optimism and as the recent tax plan buoyed stocks. Unfortunately, the bond market did not fare so well. The bond market determines interest rates for the most part. Generally when the stock market does well people pull money out of the bond market which often times results in higher mortgage rates.
Mortgage rates increased roughly 0.25% this year. This will result in higher borrowing cost and higher payments. If you … (0 comments)

mortgage rates: Texas Home Buyers Will See Higher Rates With FED Increase - 12/14/16 02:12 PM
The Fed Raised Rates What Does That Mean To Texas Home Buyers?
As expected, the Federal Reserve announced today that it would raise its benchmark interest rate by a quarter of a percentage point.
“In view of realized and expected labor market conditions and inflation, the Committee decided to raise the target range for the federal funds rate to 1/2 to 3/4 percent,” the Fed’s policy-making committee said in a statement. “The stance of monetary policy remains accommodative, thereby supporting some further strengthening in labor market conditions and a return to 2 percent inflation.”
This is the first time the Fed has increased interest … (0 comments)

mortgage rates: The Fed and Mortgage Rates What you should know - 10/12/16 06:19 AM
What is up with the Fed and Mortgage RatesHave you heard references to the Federal Reserve or "the Fed" in the news? These reports usually pertain to the Fed's raising or lowering of interest rates. The impacts of a rate decision can vary. Here are a few things to remember: 
The Fed sets target rates for bank-to-bank and Fed-to-bank loans. The Fed does not directly control fixed mortgage rates. In fact, fixed mortgage rates can change well in advance as the market anticipates any adjustments.  The prime rate is directly influenced by Fed moves. This rate is often used as the … (0 comments)