Tracey Christopher Connect T303-524-3112M303-324-7591tchristopher@bokf.com 17821 Cottonwood Drive Parker, Colorado 80134Book Time with MeApply now or sign inOur online mortgage lending platform is hosted by Blend Labs, Inc. Whether buying, selling, refinancing, or building your dream home, you have much riding on your loan specialist. Since market conditions and mortgage programs change frequently, you must ensure you're dealing with a top professional who can give you quick and accurate financial advice. BOK Financial has the expertise and knowledge you need to … Continue reading...
What interest rates look like for this week
Federal Reserve Chair Jerome Powell stated on Thursday that the central bank is not in a rush to cut interest rates. With the October Consumer Price Index and Producer Price Index showing slowing progress towards the Fed's 2% inflation goal, mortgage interest rates are higher this week over last. The markets still project a .250% cut in December but we will have to see what happens. Here is what I'm seeing: 30 Year Fixed FHA 6.125% (6.967% APR) Discount points to bank of $3,633 $500,000 Purchase Price $490,943 Loan Amount 3.5% Down Payment $17,500 720+ credit scores, … Continue reading...
Interest rates
30 Year Fixed FHA 5.75% (6.539% APR) Discount points to bank of $1473 $500,000 Purchase Price $490,943 Loan Amount 3.5% Down Payment $17,500 720+ credit scores, single family primary home purchase, 45 day lock period 30 Year Fixed VA 5.75% (6.019% APR) Discount points to bank of $1634 $500,000 Purchase Price $511,500 Loan Amount with financed VA funding fee First time VA use Zero down payment, 720+ credit scores, single family primary home purchase, 45 day lock period 30 Year Fixed Conventional 6.375% (6.539% APR) Discount points to … Continue reading...
Interest rates are coming down
Should you buy a home now or try and time the market and buy later if mortgage rates come down further? This is always a difficult decision especially when life is drawing you to buy a home. (Image: Freddie Mac Mortgage Rate Weekly Survey) There may be a window of opportunity to own a home in the Phoenix Arizona metro now with home prices having declined somewhat while mortgage rates are inching down for the 5th consecutive week to 7.22% (good credit). Remember, you can marry the home of your dreams but only have to date the mortgage rate. One can date the rate by refinancing later when … Continue reading...
Items to think about loan rates.
With the combination of rates being at the highest levels for years and prices up, and the Media putting a negative spin on EVERYTHING… Can we blame them? Probably not… but we certainly can educate them. First up: Prices are not likely to go down. Take a look at this chart: For the past 40years we have averaged 2-2.5 million units listed for sale in the country. We have been struggling with less than half that average for a few years. What you can’t see on this chart is; of that current inventory number, over 30% is under contract so the available number is more like 700,000 homes. … Continue reading...
10 Things Most Homebuyers get Wrong Getting a Mortgage Today
10 Things Most Homebuyers Get Wrong About Getting a Mortgage Today By Kimberly Dawn Neumann Oct 16, 2023 Envelope Facebook Twitter Linkedin Pinterest While buying a home has always been a challenging milestone, today’s high interest rates have made this dream even harder to achieve. Over the past two years, interest rates on home loans have nearly doubled from the 3% range to around 7% today. This tacks many hundreds extra onto the monthly expense of housing, stretching some homebuyers’ budgets to the breaking point. And while there are ways to lower those costs, navigating the home … Continue reading...
Getting a divorce, some items you need to know.
For owner occupied residences, we are limited to 80% max loan to value ratio. When it comes to a divorce, if one spouse is keeping the house they will often have to pay the departing spouse their share of the equity in the home. A cash out mortgage is often necessary to get this done. However, the traditional Texas Home Equity loan could make that difficult due to the cap at 80% of the available equity. Enter the Owelty loan. This is specifically for a divorce where cash is needed to pay the departing spouse. You can get cash out to pay off the departing spouse, even if the loan … Continue reading...
What interest rates are doing
The 30-year fixed-rate mortgage averaged 6.71% as of June 8, down from last week when it averaged 6.79%. A year ago at this time, it averaged 5.23%. The 15-year fixed-rate mortgage averaged 6.07%, down from last week when it averaged 6.18%. A year ago at this time, it averaged 4.38%. “Mortgage rates decreased after a three-week climb,” said Sam Khater, Freddie Mac’s chief economist. “While elevated rates and other affordability challenges remain, inventory continues to be the biggest obstacle for prospective homebuyers.” … Continue reading...
What you can do to rate your credit score
How To Increase Your Credit Score In Just 6 Steps Wondering how to increase your credit score? If so, you've come to the right place! Whether you want to improve your credit score because you plan on buying a home or just want to clean it up for your future this article outlines the steps you'll need to take. With a few simple adjustments to your financial habits and lifestyle, you can start getting your credit score back on track. By doing so you'll be able to obtain favorable loan terms in the future and not worry about loan denial. Keep reading to learn more about how to raise your … Continue reading...
Laons information for you
Ways to Offset Higher Mortgage Rates For a number of years, we've had the benefit of the lowest mortgage rates in history. But over the last year, things have changed. The reason? Inflation is at an all-time 40-year high and The Fed had to raise the Fed Funds rate several times to slow it down. Although the Fed does not directly impact mortgage rates, inflation is what negatively affects all rates. This has caused a good amount of stir in the housing industry where lenders, buyers, and sellers have had to pivot to alternative mortgage options to offset the rapid rise in rates. We are now … Continue reading...