Right now, the biggest news story to follow is the U.S. and China trade negotiations. Timing is everything and NOW is the time to save tens or even hundreds of thousands of dollars over the term of your mortgage. This past week, home loans started inching higher but were “saved” momentarily midweek when reports came out suggesting a delay of a “phase one” trade deal signing. Remember that Bonds and home loan rates like bad news, so a disruption or delay of the trade signing was the reason for rates to improve off the worst levels midweek. However, come Thursday, word that both the U.S. and China would roll back tariffs as a deal gets put together was very good news which pushed Stocks to all-time highs at the expense of Bonds and home loan rates. Even with the recent uptick, home loan rates are at the same level they were at back on July 31st when the Fed cut rates for the first time in 10 years. The Fed has since cut rates two more times and home loan rates have not improved any further. A word of caution: long-term rates like mortgages can move up very fast, and it is in a complacent environment like today when things suddenly change. Using history as an example, the 10-year Note yield has traded at 1.40% or lower on three separate occasions in the past seven years. In the two previous times – 2012 and 2016 – the 10-year yield quickly spiked to 3% and 2.75% respectively in just six months. This sharp move higher in yield also weighed on home loans, which also rose sharply. Bottom line: if you or someone you know is considering a new mortgage, now may be an opportune time before this window closes. Call me today so I can explain how the lowest interest rates in decades can help you in the present time as well as into retirement. You will never get more St George Utah real estate for less money! Call me today so I can give you a private tour and show you the inside of all the homes for sale that meet your criteria in Washington County in less than two hours! I can show you any home for sale in the St George area listed by any company anywhere in the city. Then you don’t have to keep searching for open houses on the weekend. We can go anytime you want. Let’s get you out there. Contact me and I can help get you fully qualified because when you find that perfect home in southern Utah you will want to be ready to write the offer on your new home. You do not want to lose your dream home because someone had a strong qualification letter from their lender showing that they are capable of purchasing the home. Contact me and I can help direct you to the lender that will do the best job for your particular situation. | ||
How to SAVE tens of thousands of dollars on St George Utah real estate!
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