Brett Lirette - First Option Mortgage - nmls 78940

11/11/2024

Happy Veteran's Day!

10/24/2024

Tomorrow night at The Cottage Inn starting around 7:30. Always a lot of fun! Great place for ice cold beer and cocktails that don't break the bank! Let's Geaux!!!

10/17/2024

Get advice and do business with someone you know, like, and trust.
I'm ready to earn your trust and help guide you in an unpredictable market.

10/07/2024

So last week the nonfarm payroll came in much higher than anticipated and thus the market is responding like the economy is strong especially the labor market. This has moved the yield on the 10 year treasury above 4% for the first time since the end of July.

But wait...does everyone remember back in mid August (see attached article) where the Dept of Labor "adjusted the March job report by a whopping 818,000 jobs? So what data is correct? Who do we believe and more importantly how is the market reacting based on the last bit of 'good news" when they have already been fooled once?

US job growth during much of the past year was significantly weaker than initially estimated, according to new data released Wednesday.

10/04/2024

Strong employment rates typically lead to economic growth, boosting consumer confidence and demand for homes. However, this can also drive inflation, prompting the Federal Reserve to raise interest rates. As a result, mortgage rates often increase. While job stability is great, it can mean higher borrowing costs for homebuyers.

This morning's employment data was much stronger than anticipated and unemployment dropped from 4.2% to 4.1%. This means that mortgage rates will remain the same or trend higher in the next few days. If you are working with a mortgage advisor who follows and understands the market you would have locked your loan in 2-3 weeks ago. If your thinking of purchasing get yourself pre-approved so you are ready for the next downward turn in rates!

10/03/2024

📉 How the 10-Year Treasury Bond Affects Mortgage Rates 📉

Did you know that mortgage rates are closely tied to the 10-year Treasury bond? 🏦 Here’s how it works:

The 10-year Treasury bond yield is often used as a benchmark for 30-year mortgage rates. This is because investors look for stable, long-term returns, and when Treasury yields drop, mortgage rates tend to follow suit. 📉

Why? Mortgage lenders need to offer competitive rates to attract borrowers. So, when bond yields fall, lenders lower mortgage rates to stay in line with market conditions. 💡

In the chart below you can see that on 9/9 (9 days prior to the Fed making a 50 bps cut to the Federal Fund rate the 10 year treasury bond yield was at 3.644. On 9/18 (the day of the 50bps cut) the 10 year increased by 10 bps to 3.740. Today the the yield is at 3.829.
This simply shows you that mortgage rates are at or slightly higher today then they were just two weeks ago. The future as it pertains to mortgage rates is bright but before you make any major decision on purchasing or refinancing talk to someone who follows the market and the trends.

09/24/2024

🌟 Looking to buy a home? 🏡 Don’t navigate the mortgage maze alone! A certified mortgage advisor can be your best ally. They’re equipped with the expertise to find the right loan for you, tailored to your unique financial situation.

🔑 Here’s why you should work with someone you know and trust:

Personalized Guidance: A trusted advisor will understand your needs and help you navigate the options.
Expert Insights: They stay updated on the latest market trends and mortgage products, ensuring you make informed decisions.
Stress Relief: Let them handle the paperwork and negotiations, so you can focus on finding your dream home!
💬 Have questions about the mortgage process? Reach out today and take the first step toward homeownership with confidence!

09/20/2024

The idea that people won't be replaced by AI, but rather by those who use it, is based on the idea that AI can be a tool to help people be more productive and creative. Here are some reasons why this is the case:
AI can handle repetitive tasks
AI can perform repetitive tasks, which frees up humans to focus on more strategic and creative work.
AI can help people be more productive
For example, a software engineer can use AI to speed up the code review process and identify errors.
AI can help people enhance their skills
AI can be used to augment skills and creativity.
AI is becoming more integrated into most roles
Most roles will use some form of AI, so people who don't use AI will struggle.
AI is a catalyst for job transformation
AI can be a catalyst for job transformation, rather than a threat to employment.
To stay relevant and competitive, people need to embrace and adapt to AI. One way to do this is to explore how AI works and how it can help you.

DM me today to reserve your seat!

09/20/2024

Many homeowners purchased when rates were 3, 4, or 5% and don't think refinancing is ever a good idea or smart option. Unfortunately many people over the last few years have gone into credit card debt and the interest rates on those credit cards are incredibly high and will take multiple years to pay off. If your sitting on home equity and your situation is anything like the example below it might be a good idea to discuss a solution with a certified mortgage advisor. Give me a call today!