TurnKey Lending

Weekly Update: 12/01/2023

Rates have been stubbornly high over the past month or two but as we see improvements heading in to December with 3 MONTH lows in the high 6's!!!

Positive inflation numbers continue to be printed and the markets are generally anticipating that the Fed could begin cutting rates at some point in the next 6-8 months, which has impacted mortgage rates positively.

Despite high rates, home prices have continued to rise across the country, and as such, the conforming limit for conventional loans for 2024 has increased from $726,200 to $766,550.

Weekly Update: 8/04/2023

It was a rough week for rates as the US 10yr Treasury spiked close to the peak we saw back in October 2022. As mentioned last week, inflation coming down over the past two months is positive and gives hope that the Fed will pause any more rate hikes but broader economic developments can and will continue to fluctuate the US 10yr Treasury price, which is what drives mortgage rates.

Next week sees the July inflation numbers announced on Thursday and Friday. After 2 months of beating expectations, can we get a third month to really solidify the trend or did the strong economic data result in increased spending and fuel inflation?

We can’t emphasize enough the importance of getting a low rate, especially as high as they are. Not only have we developed our business model to be able to do this v other lenders but we are fully transparent with our rates, making them available to borrowers online via our Affordability Assessment & Beat Your Rate tools.

If you're looking at buying a home or you're a realtor working with clients, please reach out to discuss rates, affordability and how we can provide a value driven service for those buying a home!

Have a GREAT weekend!

Weekly Update: 7/28/2023

As we’ve stated in the last few updates, the Fed, as expected, raised interest rates by 0.25% at their 7/26 meeting this week. With interest rates having a lagging effect in impacting areas of the economy, the Fed is relying on recent and future economic data reporting to determine how they will proceed. We expect a pause in interest rate hikes for at least a couple of months with the Fed not ruling out a further increase this year if economic data shows a need to do so.

Today, the core inflation numbers that the Fed prefers for measuring inflation came in 0.1% below expectations YoY. Another positive in the fight against inflation after two consecutive months of better than expected inflation numbers.

Saving money for a down payment and closing costs while inflation is running high is difficult. We are able to help buyers reduce the amount of cash they need upfront to purchase a home by waiving escrows on most conventional loans. Most lenders REQUIRE escrows when putting down less than 20% on a home.

If you're looking at buying a home or you're a realtor working with clients, please reach out to discuss rates, affordability and how we can provide a value driven service for those buying a home!

Have a GREAT weekend!

Weekly Update: 7/7/23

Things got ugly this week on the rate front, with rates hitting the highest they've been since November 2022! Strong employment data further re-enforcing the market view that the Fed will raise rates by 0.25% on 7/28 built on other recent strong economic data.

Despite the rate increase, we are still able to offer some of the best pricing around with additional strategies available to improve affordability so that people can continue to buy.

If you're in the home buying process and want to see if you're getting the best rate available for your circumstance, check out our Beat Your Rate tool on our website, where you can get an instant decision in a few seconds on whether we can beat your current rate or not.

If you're looking at buying a home or you're a realtor working with clients, please reach out to discuss rates, affordability and how we can provide a value driven service for those buying a home!

WEEKLY UPDATE 6/30/2023:

Economic data has pushed rates to their highest levels since March, with markets now pricing in a 87% chance of another 0.25% Fed rate hike in July. Not great news on the rate front but as you can see, we're one of the few lenders still able to offer well qualified buyers rates below 7%.

AirBnB revenues have crashed over the past year in key cities around the US. 4 of the top 15 cities to crash are in our Colorado and Texas markets that we serve. AirBnB owners entering the space late could be forced to list their homes if their investments are no longer profitable.

If you're looking at buying a home or you're a realtor working with clients, please reach out to discuss rates, affordability and how we can provide a value driven service for those buying a home!

Have a great 4th of July weekend!!!