JVM’s Blog

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COVID-19/Mortgage Industry Update

Here are a few reminders and key updates that are warranted (despite some repetition) b/c the overall situation remains so fluid and b/c we are still getting so many questions. […]

March 18, 2020 3 min read
black dog lying on couch at home during the COVID-19 Shelter In Place Order in the Bay Area.

Buyers in Texas Don’t Need a ‘Perfect’ Credit Score

Buyers in Texas don’t need a perfect credit score to qualify for a loan. Having a high credit score can help buyers secure a loan with a lower interest rate. However, today’s loans have more...

March 18, 2020 3 min read
blonde Texas woman facing away from the camera wearing a black backpack looks at pink blossoming trees and local houses for sale

Mortgage Acronyms Every Texas Borrower Should Know

The Texas mortgage industry is infamous for throwing a lot of mortgage acronyms around. Many first-time homebuyers may be confused by the various mortgage acronyms used in the homebuying process.

March 17, 2020 3 min read
young texas woman looking at a computer screen

Bay Area Shutdown; COVID-19 Update; Delays; Appraiser Shortage; Rates Not Falling

As everyone in the Bay Area now knows, the entire Bay Area is subject to a mass “Shelter in Place” order by local health authorities in an effort to combat […]

March 17, 2020 2 min read
Man looks up interest rates from home on a laptop during the Bay Area shutdown due to the Shelter in Place order to prevent the spread of COVID-19.

The New Millennial Housing Market in Texas

Millennial buyers (those born 1981-1997) have quickly entered the housing market and they are rapidly becoming the largest and fastest-growing demographic. A 2020 Realtor.com forecast gave the...

March 16, 2020 4 min read
a millennial mother and father wearing white shirts teach their daughter to ride a bicycle outside in front of their Texas home

Mortgage Rates Barely Move; Hell Actually Breaks Loose; Fed Cuts Rates to Zero

FED CUTS FED FUNDS RATE TO ZERO; $700 BILLION IN QUANTITATIVE EASING In a shocking and surprise weekend move, the Fed cut the Fed Funds Rate to 0% yesterday – […]

March 16, 2020 2 min read
blue and yellow graph showing the stock market data responding to the Fed Funds Rate cut

Stocks Down; Rates Up; DELAYS Caused by Coronavirus and Refi Boom

NORMALLY – WHEN STOCKS FALL, RATES FALL (BUT NOT THIS WEEK) The Dow Jones stock market index peaked at 29,551 only 1 month ago (on Feb 12th). As I type […]

March 13, 2020 3 min read
young woman with curly hair sitting on living room floor looking at mortgage rates on a laptop

Rates 1/2 Percent HIGHER Than On Monday; Early Pay-Off Penalties

Mortgage Interest Rates remain a full 1/2% higher than where they were on Monday, and 5/8% higher than where they were last week. So, while the 10-Year Treasury Bond (government […]

March 12, 2020 2 min read
brick house on residential street purchased with mortgage financing

Local Texas Mortgage Lenders Are Better!

The Wall Street Journal has previously featured an article stressing that buyers in a competitive market, like those in Texas, need a local mortgage lender with a stellar reputation, the ability to...

March 11, 2020 3 min read
Local Austin Lender Is Better!

What Happens When Entire World Wants to Refi? RATES WAY UP; Turmoil; Service Way Down

In January and February, interest rates dropped as much as 1/2 percent over the course of a few weeks and the mortgage industry experienced a refinance boom like it has […]

March 11, 2020 2 min read
What Happens When Entire World Wants to Refi? RATES WAY UP; Turmoil; Service Way Down

Rates Keep Falling; 15-Year vs. 30-Year Fixed-Rate Mortgages

Rates continue to fall in response to coronavirus concerns. They hit all-time record lows again today, as the entire mortgage industry scrambles to handle the influx of refinances. Don’t take...

March 9, 2020 2 min read
bungalow-clouds-dawn-dusk-big-yard

Interest Rates Hit Record Low; Closing Cost Tricks Big Banks Play

CLOSING COSTS ARE ALMOST THE SAME FOR ALL LENDERS A buyer said this to me yesterday: “Both of the banks I visited offered to match your rate and give me […]

March 6, 2020 3 min read
When will rates bottom out? Will the Fed cut rates again?

The Tale of Two Lenders – Who Really Pays the Cost of Co-Marketing?

We were approached last year by an extremely successful leader of a large team of real estate agents – together they close dozens of transactions every MONTH! The leader asked […]

March 5, 2020 2 min read
The Tale of Two Lenders - Who Really Pays the Cost of Co-Marketing?

Fed Rate Cuts Don’t Mean Mortgage Rate Cuts

We were asked a variance of the below question over and over yesterday: “I heard that the Fed cut the rate by 1/2 percent; can I lower my mortgage rate […]

March 4, 2020 2 min read
Fed Rate Cuts Don't Mean Mortgage Rate Cuts
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