Happy Groundhog Day: A quick calendar reminder and market upate

Mortgage and Lending with HomeBridge Financial Services (NJ) NMLS 248937



Happy Groundhog Day!


Calendar reminder: If you have any clients currently looking or in process, 2/1 is the magic day that lenders will require the new 1099s or W2s for their files. The IRS requires 1099s and W2s be sent out the end of January so as of 2/1 it will be a requirement for any loan that has not closed yet. Tax returns will not be a requirement until April, or until clients file, (whichever comes first.)


Interest rates: One of the Fed’s favorite numbers for inflation is personal consumption, PCE. The latest figure has inflation at the highest level in 40yrs. This number leads many to think we will see a large 0.5% increase in Fed funds at the next meeting to show how serious they are about controlling inflation. This on its own could help to settle long term interest rates since it is seen by the markets as controlling inflation. The bigger concern for Mortgage Rates is Quantitative Tightening, or QT. The Fed has said they will begin QT by reducing its balance sheet after hiking Fed Funds but did not say when or how much. This has been a big concern in the Credit Markets because it WILL cause long term rates to rise, as evidenced by the big sell off last week on the announcement. Ultimately- we are still in a rising interest rate environment, but rates never go up or down in a straight line.


I’d be happy to put my 30+ years of experience to work for you and your clients

Robert Rauf 
Mortgage Loan Originator NMLS# 248937
or my blog: http://activerain.com/blogs/rrauf 
Office: (732)908-4868  Cell (732)740-0175 


Since 1987 I have been helping my clients fulfill their dream of home ownership! HomeBridge Financial Services, Formerly REMN, HomeBridge Financial Services is located at 9 Grand Ave, Building 2 Suite A Toms River, NJ 08753. NMLS #6521. New Jersey Licensed Lender and Mortgage Banker #L041053. Visit www.Homebridge.com or www.RobertRauf.com for more information. NJ Mortgages, New Jersey Mortgages, Mortgages in NJ, mortgage in New Jersey, Mortgages in New Jersey, Toms River NJ 08753, Toms River NJ 08755, Brick NJ 08723, Brick NJ 08724 Mortgage in Ocean County NJ, Mortgage in Monmouth County NJ, Jackson NJ 08527, Howell NJ 07731, Lacey 08731 08734, Beachwood 08722 Bayville 08721, 

Comments (8)

Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello and Happy Groundhog Day, Robert - when one is in the middle of the mortgage process, the calendar is a constant companion.  Seconds too.  So it's rather appropriate that today's reminder comes on 2.2.22     Tick Tick Tick.    

Feb 02, 2022 07:31 AM
Robert Rauf
HomeBridge Financial Services (NJ) - Toms River, NJ

Michael Jacobs I didn't even think about the 2222 today!  I hope you are having a GREAT week!

Feb 02, 2022 07:39 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Robert, Looks like Phil said this morning in Pennsylvania another 6 more weeks of bad weather.  

Feb 02, 2022 07:58 AM
Ray Henson
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA

Happy Groundhog's Day to you and I hope you have a wonderful week!

Feb 02, 2022 10:00 AM
Robert Rauf
HomeBridge Financial Services (NJ) - Toms River, NJ

Raymond Henson, eXp Realty Thank you, and I hope you are having a GREAT week as well

Feb 02, 2022 11:50 AM
Robert Rauf
HomeBridge Financial Services (NJ) - Toms River, NJ

Will Hamm No matter what the Ground hog saw, My calendar still says the first day of Spring is 3/20!

Feb 02, 2022 11:52 AM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

I'm suspecting that the groundhog saw his shadow as we had a sunny morning.  Six more weeks of this misery

Feb 02, 2022 01:22 PM
Robert Rauf
HomeBridge Financial Services (NJ) - Toms River, NJ

Ed Silva - as I mentioned to Will, The first day of spring is 3/20, no matter what the Rodent says!!  I hope you are having a great week.

Feb 03, 2022 07:34 AM