Provident Lending & Business Solutions’ Post

There is optimism that interest rates will begin to fall soon! In our most recent blog, we cover why homeowners should monitor interest rates as it could save you money! https://lnkd.in/e59hgYUK

Rolling out our last monthly update for 2024! The cash rate target remains unchanged at 4.35%, providing stability for homeowners and prospective buyers alike. Stay informed for a confident financial journey. #Dec2024RBA #Homeloantips #RBA #CashRate #FinancialStability

Equity is the current value of your home minus what you owe on the loan. And thanks to the ongoing rise in home prices, the average homeowner's equity grew by $28,000. That’s huge. Check out the map above to see how much the typical homeowner gained in our state. And if you want to find out how much equity you have, reach out to me and let’s chat. #homepriceappreciation #realestateadvice

People are still feeling the shock of interest rate increases over the last month or two, but if you look at where rates have averaged for the past five decades, you can see that rates are still historically low! If you’d like me to connect you with a lender who will help you get the lowest rate possible! #lowrates #mortgagerates #ratesarelow #ratesstilllow #realestate #interestrates #buyrealestate #sellrealestate #realestatestats #closingcosts #iloverealestate #realestatestyle #allthingsrealestate #realtormomlife #realtorboss #realestatenews #realtoring #realtortips #OakHarborRealEstate #HomeSmartOneRealty #HaguesFamilyRealEstate #LowerRates #oakharborwashington #scotthaguessellsrealestate #scotthaguessellshomesinwa #scotthaguessellswhidbey #ScottHagues #retirednavychiefsellshomeswa #retirednavychiefsellshomesinwa #WashingtonState

Afraid of rising rates? Our Rate Cap program can give you peace of mind when buying or building your next home. Contact me to learn more about this program. #ffcemployee

Afraid of rising rates? Our Rate Cap program can give you peace of mind when buying or building your next home. Contact me to learn more about this program. #ffcemployee

It's also essential to maintain a healthy credit score and reduce outstanding debts, as these factors play a significant role in loan approval and the interest rate you receive. Consider creating a dedicated savings account for your home purchase and automating regular deposits to build up your down payment over time. This financial discipline can make your homeownership goals more achievable. #HomeBuying #DownPaymentSavings #CreditScore #FinancialPlanning #MovingExpenses

Happy Thursday and Happy Halloween! Mortgage Bond prices and Treasury yields were flat after rebounding yesterday as the cure for higher rates are higher rates. As my analyst said yesterday, at some point rates get to a spot where the bond market likes the higher yields, and the buying puts a bid in the market. Likewise, yesterday, we had JOLTS come out showing weakness and on the heels of a fantastic 7 Year auction while the 2 and 5 Year were terrible. October ADP came in at 233K versus 110K while September was revised to 159K from 143K. The first read on Q3 GDP was 2.8% versus 3% expected, matching Q2. Real consumer spending jumped while the inflation components were mixed. Mortgage Bond and Treasury prices initially took a hit after the data with the 10-yr rising to 4.27% but has since traded to 4.21% - this is a good sign. The markets still are set to receive the Core PCE, the Employment Cost Index and Jobless Claims tomorrow – the Jobs Report Friday. Next Tuesday is Election Day. Quarterly Refunding was inline with estimates at a total of $125B for next week broken down into $58B 3-year notes, $42B 10s and $25B 30-year bonds. One positive note is that the Fed’s quiet period is underway ahead of the two-day Fed meeting November 6 - 7. Oil prices remain below $70/bbl but is not helping bonds ... yet. My favorite Bowtie Economist Elliot said the other day… At the onset of the 2008 Housing Bust, there was an excess supply of houses of 1.25 million, and that exacerbated the subsequent steep decline in home prices. Currently, there is a shortage of housing. Estimates, using very different methodologies, peg the gap at between 1.5 million and 5.5 million units. The average is 3.4 million, equivalent to slightly over two years of production, a very large amount. Some of you reached out to ask about my post regarding 2025 tax Deductions. Here is a refresher… https://lnkd.in/gKFpAeh5

🚨 New Post Alert! 🚨 The Federal Reserve has decided to maintain the federal funds rate at a 23-year high of 5.25% to 5.50%, impacting the real estate market. They’ve reduced their 2024 rate cut projection to just one, with significant cuts expected in 2025 and beyond. Homeowners and buyers should brace for higher rates in the short term. Additionally, a major policy change from the VA will allow VA loan borrowers to pay their own buyer agent fees under specific conditions starting August 10, 2024. This follows a recent class-action lawsuit settlement and will affect loan eligibility and out-of-pocket costs. Stay informed on these critical updates by following our latest analysis. Read more: https://lnkd.in/eeZ_6-6e #RealEstate #InterestRates #MarketTrends #VABorrowers #TheFeldmanGroup #RLAH #atproperties

Afraid of rising rates? Our Rate Cap program can give you peace of mind when buying or building your next home. Contact me to learn more about this program. #ffcemployee