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  #41  
Old 08-07-2019, 11:27 PM
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huntingsocal huntingsocal is offline
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Trump’s China tariffs was the bomb nobody expected

Market’s knee jerk reaction was good for rates

If you’ve been on the fence about a refi, probably time to get off

If you’ve been prequalified to buy a home in the last six months, you might be pleasantly surprised when I tell you how much your payments will be now

PM me for a no cost, no obligation number crunch
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  #42  
Old 08-15-2019, 10:25 PM
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huntingsocal huntingsocal is offline
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Default Is a Recession Coming?

All this talk about inverted yield curves and such has the markets spooked about a recession.

Came across this article on fortune.com and found the mortgage piece interesting:

When the Next Recession Hits, 4 Good Things Could Happen


from the article:

"Over the past five recessions, mortgage rates have fallen an average of 1.8 percentage points from the peak seen during the recession to the trough. And in many cases, they continued to fall after the fact as it takes some time to turn things around even when the recession is technically over.

Mortgage rates don’t have nearly as far to fall as they did in the past since the starting point is so much lower today. But even a little weakness in economic activity can send rates plunging."


It may or may not be the perfect time for you to refinance or buy a house right now, but it wouldn't hurt to check.

PM me and I'll let you know if it is a good time now or what you need to do to get ready so when the time is right you can pull the trigger

No cost, no obligation, no annoying follow up, and no sales pitch.

I'll just crunch some numbers for you so you know where you stand
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  #43  
Old 09-06-2019, 5:01 PM
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huntingsocal huntingsocal is offline
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Just finished helping another calguner take advantage of low rates with a refi.

One of the things I pride myself on is the streamlined process that my team and I have in place.

This one was 18 days from submitting the application to underwriting until closing.

Quick but not rushed, and you'll know exactly what is going on the whole time

PM me for a no cost, no obligation Home Loan Report to see if a refi pencils out for you.

Worst that will happen is I'll let you know you are in good shape and don't need to change a thing

Cheers
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  #44  
Old 09-06-2019, 7:56 PM
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Rakso Rakso is offline
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And quick it was!!!

I can not recommend Micah enough. So many positive adjectives to say it would take me a while to finish. Quick, painless, seamless, hassle less, even effortless I would say.

Plain and simple, you have nothing to loose and a lot to win, at least for me that was the case. Extremely satisfied with my Refi

Top notch professional here gentlemen. Highly recommended.

I will be sitting outside on my patio tonight enjoying my favorite craft beer thinking how great of a deal I just got.
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  #45  
Old 09-06-2019, 9:39 PM
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huntingsocal huntingsocal is offline
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  #46  
Old 09-09-2019, 9:10 PM
RNursejitsu7 RNursejitsu7 is offline
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interesting... i am looking to purchase in the near future. though i am in northern california.
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  #47  
Old 09-09-2019, 9:27 PM
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huntingsocal huntingsocal is offline
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^ I can absolutely help you with the financing aspect as that is all done via email/text/phone and while I can't physically help you get into houses in Northern CA I can definitely connect you with a good agent

Best advice I can give is to get all your ducks in a row on the financing first, so when it comes time to get out and look at houses you know exactly where you stand on where you want the numbers to be for purchase price, down payment and monthly payment

I help people get the numbers figured out first, and then it is just a matter of finding the right house that matches the numbers.

PM when you're ready to start crunching some numbers, no cost, no obligation and no sales pitch
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  #48  
Old 09-19-2019, 10:35 PM
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Curious about your take on the recent fed cut.
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  #49  
Old 09-20-2019, 1:58 PM
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huntingsocal huntingsocal is offline
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Quote:
Originally Posted by WeStayClean View Post
Curious about your take on the recent fed cut.
Feds don't control mortgage rates. When they "cut" it is to the Federal Funds rate.

When they cut the Federal Funds rate do mortgage rates sometimes go down? Yes, but sometimes they go up as well depending on the language from the meetings and how markets interpret their statements and minutes from the meetings.

Mortgages ended essentially flat after the cut this week, no increase, no decrease as the .25 cut has been "baked in" to the market and widely expected for some time now. Jerome Powell chose his words carefully to give the markets just enough so that they wouldn't react much and that is what happened.

All eyes now are on the China trade deal which, in my opinion, is the biggest driver of mortgage rates at the moment.

Trade deals came back on the table at the beginning of the month and rates spiked up dramatically.

Today, China cancels a visit to some farms (which was never approved in the first place and only "tentative") markets freak out and mortgage rates improve a bit.

The key word these days is "volatility" with lots of knee jerk reactions causing mortgage rates to go up or down.

What I am helping people do now is, figuring out the target rate for a refi to pencil out, then getting all their ducks in a row for loan approval. That way, when the next dip happens we're ready to take advantage of it while it lasts and get the refi done quickly and easily

For people buying a home, I don't recommend gambling to see if rates will come down further. Right now rates are great and still under 4% There's too much risk in my opinion to play the market when you are in escrow on a home to see if rates will come down during the home buying process. Lock in a great rate right now and then keep your eyes on the prize which is buying your new home. After closing then we can start monitoring the market for a refi opportunity down the road.

Last edited by huntingsocal; 09-20-2019 at 2:02 PM..
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  #50  
Old 09-22-2019, 6:51 AM
mwr mwr is offline
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Im certain there are many factors to consider, but generally speaking at what point spread (difference) between a current 30 year mortage and available rates today does one consider a refi?
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  #51  
Old 09-22-2019, 10:03 AM
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huntingsocal huntingsocal is offline
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Good question mwr and you are correct, there are many factors

Cost is a factor. The third party costs like title, escrow, appraisal, recording, notary aren’t much different between a $100,000 refi and a $600,000 refi which means loan amount is also a factor

Someone lowering their rate by .25% with a $100,000 loan isn’t going to save nearly as much as someone lowering their rate by .25% on a $600,000 loan so it will take the person with the $100,000 loan much longer to realize the savings compared to the person with the $600,000 loan since they are both paying about the same in actual up front costs

That brings in the factor of how long you plan on staying in the home for

If someone is going to sell their home in a year, it probably doesn’t make sense to refinance, pay points to buy down their rate only to end up selling in a year

Whereas, someone who is in their “forever home” and not going anywhere might be better off buying their rate down so they can “set it and forget it” and just get the lowest rate possible now, knowing they are going to be there for years to come

Now, even if someone is going to sell in the next 12 months a refi might still pencil out. You’ve probably heard ads for “no cost” refis which is actually misleading in my opinion because what they are actually talking about is a refi with no “up front” costs. The lender does credit the borrower to pay for the closing costs but they do with a higher interest rate.

The lower the rate, the more up front costs (discount points) the higher the rate the lower the up front costs (lender credit toward closing costs)

But if someone is only going to be in their house for a year, and we can still lower their rate with a “no up front cost” refi that doesn’t cost anything with a higher rate (still lower than current rate) then it can make sense in a situation like that

So in a situation like that, the rate might only drop .125% but if we’ve got the lender paying all the costs and aren’t adding anything to the loan balance or term then they are saving money from day one and it doesn’t matter that they’re selling the house in a year

I hear people say all the time “Oh my cousins financial guy said never refi unless you can lower your rate by at least .25%” or something along those lines

Truth is there is no magic formula so best thing to do is PM me and I can take s look at your overall situation with long term and short term factors weighed in and help you figure out if a refi makes sense

If it doesn’t make sense now, then we can set a target for where rates need to be for it to make sense and then wait for a Trump tweet to rattle the markets and make rates dip
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  #52  
Old 11-01-2019, 10:09 PM
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huntingsocal huntingsocal is offline
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Between the China trade deal, Brexit, and rumblings of a "global slowdown", there are lots of things out there that impact mortgage rates for buying or refinancing a home

Bottom line, rates are good right now, about a point lower than this same time last year.

PM me for a quick mortgage check up to see if a refi pencils out

Thinking about buying a home? I’ll put together some different scenarios to help you figure out the best strategy

Need to sell? I can help you figure out what fix ups are worth it and which ones are not so you can get top dollar for your home in the shortest amount of time

Lazy agents and lenders will tell you nobody does anything during November and December but I call BS.

The end of the year is always a busy time for me and I’ll always make time for a fellow calguner or their friends or family who might need help with real estate or financing

I promise to make the process as streamline and trouble free as possible so you can still enjoy Thanksgiving, Christmas and the New Year with your family
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  #53  
Old 11-19-2019, 11:28 AM
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bRiT636 bRiT636 is offline
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pm sent
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