Weekly update: Product, Rates, Housing and Wine

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



Product Spotlight:  Have you had any difficult to qualify clients? Our Simple Access program is here to help! This program will help Self Employed buyers qualify allowing us to use:

  • 12-24 Months of bank statements to show cash flow instead of tax returns.
  • 1099s only
  • Investment property, Cashflow using only the market rent VS the PITI to qualify.

While not a “no doc” these are great ways to get clients into homes when their CPA is a little too good at finding write-offs.


Interest rates: Did someone say Federal Reserve?  Unless you were living under a rock last week, I am sure you heard the Fed Increased Fed Funds 0.75% on Wednesday. On the surface you probably think this is bad, but it is a good thing. They needed a decisive move to show they were serious about getting inflation under control. That leaves Fed Funds target at 1.75% right now and expect to see that double by the end of the year. Initially the market gained back most of what we lost early in the week in a sigh of relief rally Wednesday, lost some on Thursday as Central bankers in the rest of the world followed the Fed Move, and Friday was a good day- we had 3 rate changes all to the better Friday leading into the long weekend. So, what does the above mean? Rates are in the low 6’s right now for good borrowers and will climb into the mid 6’s for some. Keep in mind the average 30yr rate since 1971 = 7.78%.


Housing prices: Every “guesstimator” has housing prices climbing. The lowest estimate for 2022 is +7% with others in the low double digits.  Some long-term estimates have housing climbing 25% over the next 5 years which is an indicator of housing prices settling in to less than 5%/year. Some fun facts:

1) The average home was only on the market 16 days in May 2022, 17 days in April.

2)The average credit score in this market, 751 as compared to the 2007 market's 699 

3) Mortgage Delinquencies are at an all time low

4) Foreclosures and short sales combined are less than 1 % of the market activity.

All of the above points to a strong housing market moving forward.


WINE TIP: (I started these with my sphere a month or two ago and everyone liked them) It is BBQ season, and nothing goes better with BBQ than Zinfandel. One of the best Zins you will find that is still somewhat budget friendly is Seghesio. While their main focus is Zinfandel, they also have some great Italian varietals – You will never be disappointed with anything Seghesio- they don’t produce a bad wine at all.

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

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, 

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