India  

JTS Mortgage Minute 07/28/2020 - Falling Interest Rates

Video Credit: WCBI - Published
JTS Mortgage Minute 07/28/2020 - Falling Interest Rates

JTS Mortgage Minute 07/28/2020 - Falling Interest Rates

With interest rates falling for the sixth straight month, homeowners continued to grab the chance to purchase or refinance in June.

0
shares
ShareTweetSavePostSend
 

Good morning, i'm jeff farnham ?

With interest rates falling for the sixth straight month, homeowners continued to grab the chance to purchase or refinance in june.

?

According to ellie mae, we are seeing a rebound in the purchase market which represents 42 percent of all closed loans while refinances represent 58%.

?

The mortgage bankers association's survey also showed that the new home purchase market is making progress toward a lively home-buying summer season.

?

The survey showed that overall mortgage applications were 54 percent higher than last year for new home purchases.

?

Applications surged 20% in june alone.

?

These numbers reinforce the fact that home-buying activity that was delayed by the pandemic in march and april is just being realized later in the season.

?

The fact that applications are up over 50% from last june reinforces that point even further.

?

Mba estimates the new single- family home sales is at the strongest levels of activity since january.

?

And depending on the loan type, basis points dropped anywhere from 2 to 4 points for a 30-year fixed mortgage.

?

Lower interest rates are also fueling home- buying demand.

?

Because of this housing is expected to lead an overall economic recovery.

?

As existing home inventory remains low, builders are seeing strong interest in new construction.

?

According to the latest national association of home builders, builder confidence in the market for newly built single- family homes spiked 14 points in july already.

?

The housing market index now stands at the pre- pandemic reading it posted in march and rose 10 points in the south alone.

?

Needless to say, the housing market is going strong moving into the late summer months.

?

If you are looking to purchase or refinance a home, jts & co.

Wants to be your first call.

?

In these unprecedented times of time off from work due to covid-19, forbearance, or other special circumstances with employment and income, it's important to work with someone that has a reputation of trust and experience on their side.

?

At jts & co.

We enjoy helping families become homeowners.

?

But there is more to getting a mortgage than just pushing a button.

?

On a weekly basis we have calls from customers who have started with a national lender, thinking it would be quick and easy, only to find themselves frustrated and confused 30 to 45 days into the process.

?

Understanding your needs and goals is paramount in determining the best way to structure your loan.

?

When you sit down with a mortgage advisor at jts & co, we review this type of information with you and look for the best option to fit your specific scenario.

?

Your long-term goals are a huge factor in the best way to structure your loan.

?

Jts & co.

Is local, trusted, and experienced and we want to be your lifetime mortgage advisor.

?

Give us a call to discuss your situation today!

Thank you for joining me today, be sure to tune in next




You Might Like


Tweets about this


Related videos from verified sources

JTS Mortgage Minute 08/04/20 - Economic Growth [Video]

JTS Mortgage Minute 08/04/20 - Economic Growth

As rates continue to drop, refinance applications are predicted to continue to increase in volume. To start your home-buying process started, call JTS today at 662-329-9090.

Credit: WCBIPublished
JTS Mortgage Minute 7/7/20 - Low Mortgage Rates & Increased Demand [Video]

JTS Mortgage Minute 7/7/20 - Low Mortgage Rates & Increased Demand

Jeff Farnham of JTS & Co. Mortgage Professionals tells us that with historically low interest rates right now, demand for new housing will outpace the supply. Now is an excellent time to get..

Credit: WCBIPublished
JTS Mortgage Minute 06/30/20 - Trust & Interest Rates [Video]

JTS Mortgage Minute 06/30/20 - Trust & Interest Rates

Jeff Farnham of JTS & Co. Mortgage Professionals stresses the need to work with TRUSTED lenders when buying a house, especially during the confusion of the coronavirus pandemic. It's also necessary..

Credit: WCBIPublished