April - 2018

TWO RIVERS MORTGAGE- JAKE PLANTON NMLS 209327/1647999

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Mortgage Rate Update: Rates hit their highest mark in 4 years.

Mortgage Rate Update: Rates hit their highest mark in 4 years.

Mortgage rates have moved out of that narrow range we have been in for a while, and are now officially falling off the cliff...meaning higher in rate world. Here is the pricing from March 1st, to today. Red is bad, green is good. As you can see, pricing is moving quickly in the bad direction. For some perspective, here is the rate graph from December of 2017. As the bars go lower, rates go higher. You can see the movement. Red is bad, green is good. Here is a pricing sce

Mortgage Brokers Have More Options

Subprime Loans...?

Carrington Mortgage is one of our lenders. They allow for credit scores down to 500, for VA/Conv/FHA. They allow for bank statement loans, which is easier for self-employed folks. They allow for loans for people that have had credit dings in the past (BK/Foreclosure). These are 'kind of' like the subprime loans we had in the past. The difference is that each of these loans will be manually underwritten, and with a more risky file, they will need to put more down, and/or pay a

Buyers Market vs a Sellers Market

Buyers Market vs a Sellers Market

Here is a good breakdown of what it means to say a 'buyers market' vs a 'sellers market.' During the housing crash, we were in a buyers market. There were a ton of homes on the market, and buyers could play hard ball with sellers. Over the last 5 years or so, driven somewhat by low interest rates, the market has shifted to a sellers market. There are SO MANY buyers looking at very few homes on the market. Now the sellers can play hard ball. Low inventory is making it very

Rate Update

Rate Update

Mortgage rates continue to stay in a very narrow range, which is not a bad thing. The roller coaster ride for rates seem to have subsided a bit. I am telling all of my clients that it is always better to lock right now, because it could go south really fast. Here is the pricing from March 1st, to today. Red is bad, green is good. For a little bit of perspective, here is the rate graph from the beginning of the year. Things have stabilized a bit. Rate quote is below. Here

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Mortgage Rate Update

Mortgage Rate Update

Mortgage rates had a good little run there. Rates hit the lowest point in weeks for a bit, but things have gone worse, especially today. This graph shows from March 1st, to today April 3rd. Red is bad, green is good. Here is a pricing scenario: 740+ credit score, 20% down, purchase, conventional loan. 4.5% Rate (4.602% APR) I always tell people that they can have any rate that they want. I priced this scenario with no extra cost for the rate, and no lender credit. If you