Mickey Lynam: First Horizon Mortgage

Mickey Lynam: First Horizon Mortgage updated their info in the about section.

Great turnout at the first Prosper/Celina CCAR meeting of 2020. Learning about i-buyers today.

’tJudgeABookByIt’sCover

Mortgage Rates are at 3 year lows; if you purchased in the 2nd half of 2018 or early 2019, you may want to refinance already.

Have you thought about refinancing lately; either to get a better rate and lower payment or maybe to take equity out of your house for other purposes? If not, see below. If your rate is at or above 4.25%, it might be worth checking out and I would be happy to provide you some quick and easy guidance. You can reach me at [email protected]

"Mortgage rates fall below 4% and refis explode as rates tumble. The average rate on a 30-year fixed rate mortgage fell to 3.93% last week for loans of $484,000 or less — the first time those loans have been below 4% in nearly three years, according to the Mortgage Bankers Association, the industry trade group. Rates are even lower on larger mortgages and on 15-year loans. That sparked a 37% jump in the number of refinancing loans last week compared to the previous week, said the MBA. Compared to a year ago, the rate of refinancing has nearly tripled."
-MBS Headline News & Market Report 8/15/19

Congrats to J&J on the puchase of their new home in Forney, TX. The Forney school district gets an A+ for hiring these two awesome employees. Hats off to star Ebby Realtor, Julie Anne Anderson for getting this purchase across the finish line.

Monday's aren't so bad when you start with a closing for a great client! Looking forward to having Karen & David back in USA. Also, you can't beat working with awesome realtors like Jessica McMurtrey at Ebby. Happy Monday!

Thank you Patrik Brodelius Realtor - REMAX Dallas Suburbs, great realtor and our wonderful investor client; looking forward to many more closings.

We closed on our third investment property in Lewisville using the 1031 Exchange program! I helped my investor put 3 homes under contract within the 45 days required by the IRS. What an awesome program this is! The investor is able to defer the capital gains taxes to the future! A big thank you to Mickey Lynam at IberiaBank Mortgage for excellent service!

I am very grateful for my investor clients!

Great way to end April with two closings today!
So thankful for my clients.

Zach & Jessica - Congrats on your new baby and enjoy the new house! y'all are awesome.

Cory - You are a great realtor and I appreciate your confidence working with your clients.

Daniel & Sandra - Congrats on the new investment property and looking forward to the next two closing soon.

Patrik - I appreciate your referrals and look forward to a long and successful partnership.

Good News on the Mortgage Front:

Mortgage rates hit lowest level since start of 2018. “The combination of cooling inflation and slower global economic growth led mortgage rates to drift down to the lowest levels in a year,” said Freddie Mac Chief Economist Sam Khater. “While housing activity has clearly softened over the last nine months and the lingering effects of higher rates from last year are still being felt, lower mortgage rates and a strong job market should rekindle demand for the spring home buying season.”

Great crowd at the “We Love Our CCAR Members” celebration.
The CCAR Realtor/Lender Committee is well represented.
Rocks

Great turnout at Northern CCAR meeting. Residential Realty & Lending is all about relationships.

ON THE LIGHTER SIDE
“DOUGHNUTS ARE HEALTHY: 1.) Less stress makes you more healthy. 2.) Being happy makes you less stressed. 3.) Doughnuts make you happy. 4.) Doughnuts are healthy.”

Good logic always prevails 🥯😀🥯😀

GOOD NEWS ON THE MORTGAGE FRONT

😃The Fed met this past week. As expected, they didn't hike rates and the Fed Statement was very "dovish," suggesting that rate hikes will be off the table for most, if not all, of 2019.

The Fed looked to "muted inflation" and slowing economies abroad as reasons to show "patience" in hiking rates further.

😃In response, home loan rates revisited the best levels of 2019 this past week.

This new position by the Fed is a complete departure from where they were just a few months ago, when Fed Chair Powell was forecasting 3 rate hikes this year.

People owning Stocks are feeling wealthier as shares hit a multi-month high this week after rallying 14% since Christmas. This is good for housing.

Job creations and wage growth are also fundamental to a healthy housing market and last week's terrific Jobs Report showed steady growth in both.

😃 More good news – the Mortgage Bankers Association just released a forecast suggesting that 30-year mortgage rates will remain below 5.00% through 2020!!!

If you or someone you know has questions about home loans, contact me. I'd be happy to help.

Mickey Lynam: First Horizon Mortgage updated their business hours.