True Mortgage Lending - Miriam Gilmore

𝗔𝗿𝗲 𝗿𝗶𝘀𝗶𝗻𝗴 𝗺𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗿𝗮𝘁𝗲𝘀 𝗿𝗶𝗽𝗽𝗶𝗻𝗴 𝗮𝘄𝗮𝘆 𝘆𝗼𝘂𝗿 𝗱𝗿𝗲𝗮𝗺𝘀 𝗼𝗳 𝗯𝘂𝘆𝗶𝗻𝗴 𝗮 𝗵𝗼𝗺𝗲? ⚾ 😲

👉 Don't worry, I'm here to help!

If you want to buy a home but feel like it's unaffordable, we should talk. I have mortgage programs that may help, and options that you may not know are available to you.

✅ 𝗗𝗼𝗻'𝘁 𝗹𝗲𝘁 𝘁𝗵𝗲𝘀𝗲 𝗺𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗿𝗮𝘁𝗲𝘀 𝘁𝗿𝘆 𝘁𝗼 𝘁𝗮𝗸𝗲 𝘁𝗵𝗲 𝗯𝗮𝗹𝗹 𝗮𝘄𝗮𝘆 𝗳𝗿𝗼𝗺 𝘆𝗼𝘂! 𝗥𝗲𝗮𝗰𝗵 𝗼𝘂𝘁 𝘁𝗼 𝗺𝗲 𝘁𝗼𝗱𝗮𝘆.

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗢𝗰𝘁𝗼𝗯𝗲𝗿 𝟮𝟴, 𝟮𝟬𝟮𝟰

𝗟𝗮𝘀𝘁 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗥𝗲𝗰𝗮𝗽: 𝗥𝗮𝘁𝗲𝘀 𝗰𝗼𝗻𝘁𝗶𝗻𝘂𝗲𝗱 𝘁𝗼 𝗰𝗹𝗶𝗺𝗯 👎
Mortgage rates rose last week as the 10yr Treasury yield moved higher and mortgage bonds, which are the true basis of mortgage rates, dropped to the worst levels since July.

𝗧𝗵𝗶𝘀 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗘𝘅𝗽𝗲𝗰𝘁 𝗩𝗼𝗹𝗮𝘁𝗶𝗹𝗶𝘁𝘆 ⚠️
Mortgage rates could be volatile this week, reacting to economic and labor market data, particularly Friday's BLS jobs report. A strong jobs report could push rates to their highest levels in months, even with next week's anticipated Fed policy rate cut. Remember, the Fed doesn’t directly set mortgage rates, and the upcoming cut has already been factored in by the market.

📈 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Economic and labor data: Multiple reports this week will highlight the health of the economy and labor market. If Friday's BLS jobs report comes in strong for a second consecutive month, it could push mortgage rates higher.
- Inflation data: Thursday’s PCE inflation report, the Fed's preferred measure of inflation, will be closely watched. Persistent inflation could add pressure to mortgage rates.
- The election: Markets are reacting to speculation around next week's election and its potential impact on the economy, contributing to rate volatility.

🏡 "𝗛𝗼𝘄 𝗺𝘂𝗰𝗵 𝗵𝗼𝘂𝘀𝗲 𝗰𝗮𝗻 𝗜 𝗮𝗳𝗳𝗼𝗿𝗱?" 🤔

If you're considering buying a home, this is probably one of the first questions you'll ask. And while a mortgage calculator can give you a rough estimate, it can't tell you what interest rate you'll qualify for or provide you with the range of options that may be available... especially options that may help you buy more house while rates are high.

💰💵 Finding an accurate number for how much house you'll qualify for, AND what you can comfortably afford, can be made much easier with guidance from a mortgage professional like me. I can help you understand what you qualify for, discuss what kind of payment you're comfortable with, compare loan programs, and then help you get the most house for your money while making the whole process convenient.

👍 𝗬𝗼𝘂 𝗰𝗮𝗻 𝗰𝗼𝗻𝘁𝗮𝗰𝘁 𝗺𝗲 𝗮𝗻𝘆𝘁𝗶𝗺𝗲 𝗳𝗼𝗿 𝗮 𝗳𝗿𝗲𝗲, 𝗻𝗼 𝗼𝗯𝗹𝗶𝗴𝗮𝘁𝗶𝗼𝗻 𝗰𝗼𝗻𝘃𝗲𝗿𝘀𝗮𝘁𝗶𝗼𝗻 𝗮𝗯𝗼𝘂𝘁 𝗯𝘂𝘆𝗶𝗻𝗴 𝗮 𝗵𝗼𝗺𝗲 𝗮𝗻𝗱 𝗵𝗼𝘄 𝗺𝘂𝗰𝗵 𝗵𝗼𝘂𝘀𝗲 𝘆𝗼𝘂 𝗰𝗮𝗻 𝗮𝗳𝗳𝗼𝗿𝗱. 𝗚𝗼 𝗮𝗵𝗲𝗮𝗱 𝗮𝗻𝗱 𝗰𝗵𝗲𝗰𝗸 𝗼𝘂𝘁 𝗺𝘆 𝗿𝗲𝘃𝗶𝗲𝘄𝘀 𝘁𝗼 𝘀𝗲𝗲 𝘄𝗵𝗮𝘁 𝗼𝘁𝗵𝗲𝗿𝘀 𝗵𝗮𝘃𝗲 𝘁𝗼 𝘀𝗮𝘆 𝗮𝗯𝗼𝘂𝘁 𝗵𝗼𝘄 𝗜 𝗵𝗲𝗹𝗽𝗲𝗱 𝘁𝗵𝗲𝗺. ⭐⭐⭐⭐⭐

Why not reach out to me, knowing you won't get any sales pitch or be pressured to take any action? I'm simply here to help! 🙌

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗢𝗰𝘁𝗼𝗯𝗲𝗿 𝟮𝟭, 𝟮𝟬𝟮𝟰

𝗟𝗮𝘀𝘁 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗥𝗲𝗰𝗮𝗽: 𝗥𝗮𝘁𝗲𝘀 𝗰𝗹𝗶𝗺𝗯𝗲𝗱 𝗵𝗶𝗴𝗵𝗲𝗿 👎
After holding steady at the start of the week, mortgage rates inched upward, continuing their rise after reaching the lowest levels of 2024 in September.

𝗧𝗵𝗶𝘀 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝗹𝗶𝗸𝗲𝗹𝘆 𝘁𝗼 𝗸𝗲𝗲𝗽 𝗿𝗶𝘀𝗶𝗻𝗴 👎
Rates have already increased on Monday, and there’s little to suggest a reversal this week. Just a few weeks ago the outlook pointed to rates slowly decreasing, but now the trend has flipped and we could see rates continue to climb.

📈 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- November's approach: Though it’s a couple of weeks away, November could bring increased volatility. With jobs data, the election, and the Fed meeting on the horizon, mortgage rates may face even more upward pressure.
- Economic data: Only a few economic reports are expected later this week, but if they indicate a strong economy, it could push rates even higher.
- Fed rate cuts: Markets now expect a quarter-point policy rate cut at the November Fed meeting, with a 75% chance of another cut in December. If speculation of further cuts declines due to strong economic and labor data, mortgage rates may rise.

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗢𝗰𝘁𝗼𝗯𝗲𝗿 𝟭𝟰, 𝟮𝟬𝟮𝟰

𝗟𝗮𝘀𝘁 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗥𝗲𝗰𝗮𝗽: 𝗥𝗮𝘁𝗲𝘀 𝗺𝗼𝘃𝗲𝗱 𝗵𝗶𝗴𝗵𝗲𝗿 👎
Mortgage rates tried to find a ceiling last week after moving much higher the previous week when jobs data showed surprising strength in the labor market. However rates did move just slightly worse to end the week, getting little help from inflation data which came in showing inflation was still higher than expected.

𝗧𝗵𝗶𝘀 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝗻𝗼𝘁 𝗹𝗶𝗸𝗲𝗹𝘆 𝘁𝗼 𝗶𝗺𝗽𝗿𝗼𝘃𝗲 👎
This week isn't likely to bring much relief to mortgage rates, with little in the way of economic data or other events to help. Mortgage rates are being heavily influenced by speculation of future Fed rate cuts, with markets forecasting the Fed will likely only cut rates by a quarter point in November and leaving the door open for no rate cut at all.

📈 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Holiday: Although stocks are open, the bond market will be closed on Monday so mortgage rates should not change that day.
- Fed speakers: Lots of Fed officials out sharing opinions, most signaling they feel the Fed does not need to be in a hurry to cut rates to avoid a recession or protect the labor market. Mortgage rates have moved higher after expectations of bigger Fed policy rate cuts fell after September's strong jobs data.

𝗛𝗶𝗴𝗵𝗲𝗿 𝗺𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗿𝗮𝘁𝗲𝘀? 𝗪𝗵𝗮𝘁 𝗵𝗮𝗽𝗽𝗲𝗻𝗲𝗱?
Rates have been pushed higher by recent economic data, including reports last week showing the labor market is stronger than was thought with lots of new jobs created and unemployment moving lower. This week's inflation data also came in slightly higher than expected.

𝗗𝗶𝗱𝗻'𝘁 𝘁𝗵𝗲 𝗙𝗲𝗱 𝗷𝘂𝘀𝘁 𝗰𝘂𝘁 𝗿𝗮𝘁𝗲𝘀?!
Yes, but the policy rate that the Fed cuts does not directly control mortgage rates. Mortgage rates had already moved lower weeks earlier as markets speculated the Fed would start cutting its policy rate.

𝗦𝗼, 𝗵𝗼𝘄 𝗵𝗶𝗴𝗵 𝘄𝗶𝗹𝗹 𝗿𝗮𝘁𝗲𝘀 𝗴𝗼 𝗮𝗻𝗱 𝘄𝗶𝗹𝗹 𝘁𝗵𝗲𝘆 𝗰𝗼𝗺𝗲 𝗯𝗮𝗰𝗸 𝗱𝗼𝘄𝗻 𝘀𝗼𝗼𝗻?
The current forecast is that rates will stay here for awhile or could even move slightly higher. We will eventually see rates come down again, but that is only likely when the economy slows down and the labor market shows weakness.

I have some ideas on how to help make your payments more affordable while rates are higher. Contact me today and I'll tell you why now is still a great time to buy a home, and how I can help!

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What truly set her apart was the ability to find me an excellent rate that fit my budget. She worked tirelessly to make sure I got the best possible terms, and her negotiation skills were top-notch.

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🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗢𝗰𝘁𝗼𝗯𝗲𝗿 𝟳, 𝟮𝟬𝟮𝟰

𝗟𝗮𝘀𝘁 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗥𝗲𝗰𝗮𝗽: 𝗥𝗮𝘁𝗲𝘀 𝗺𝗼𝘃𝗲𝗱 𝗵𝗶𝗴𝗵𝗲𝗿 👎
Mortgage rates made a significant move higher last week after jobs data came in much stronger than expected, showing a resilient labor market with lots of new jobs created and a drop in unemployment. The strong labor data makes Fed rate cuts less necessary, and the reaction in markets pushed mortgage rates higher.

𝗧𝗵𝗶𝘀 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝗰𝗼𝘂𝗹𝗱 𝗰𝗼𝗻𝘁𝗶𝗻𝘂𝗲 𝘁𝗼 𝘄𝗼𝗿𝘀𝗲𝗻 👎
Mortgage rates may continue higher this week because momentum has shifted after last week's jobs data. Although eventually rates will move lower again, we could see some more worsening this week before that happens.

📈 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Market momentum: Markets now pricing in the chance that the Fed may not even cut rates at all at the November meeting, which is pressuring mortgage rates higher this week. Traders still believe a quarter point cut is the most likely result, but if concerns about cuts grow from here it will pressure mortgage rates higher in the near term before seeing them move lower again.
- Inflation data: Although not as important as a few months ago, inflation data could help stop rates from rising higher from here. However, the data doesn't come out until late in the week.

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