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Amy Cates, NMLS #1135261 Beacon Community Bank

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Charleston, SC
Amy Cates, NMLS #1135261 Beacon Community Bank

Providing low rate, hassle free mortgages for buying or refinancing a home throughout North Carolina and South Carolina.

12/30/2022

Folks, the 🌞🌞weather🌞🌞 is going to be PERFECT this weekend! Come check out this beautiful home on Johns Island and see for yourself everything it has to offer!

With a HUGE backyard and sitting on a corner lot, you won't want to miss this one! With just over a 1/4 acre lot, there is plenty of room to stretch out while entertaining guests in the backyard. There is already a privacy fence in place for any fur babies, young ones or backyard yoga classes too (all optional 😆)!

🥳🤩Bring in the New Year🤩🥳 with a new home🏠🏡🏘! Feel free to call me for any additional details prior to the open house, or just show up! I look forward to seeing you all there!

Alan Heifner - 843-925-6766

12/01/2021

JUST RELEASED!!

The 2022 conforming limit will be $647,200.
That is a massive $98k increase from 2021! The anticipation was that the 2022 limit was going to be $625k, but it came in $22k higher!

That means any LOAN (not sale price) up to $647k will be a Conventional loan in 2022. Rather than a jumbo loan. It also means that a veteran can have two VA loans with a combined balance equaling $647k, using bonus entitlement. Thats a big difference.

The conforming limit in high cost areas (like NYC, parts of NJ, DC, CA, AZ, etc) will be higher and local specific.

09/27/2021

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗦𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿 𝟮𝟳, 𝟮𝟬𝟮𝟭

𝗥𝗲𝗰𝗮𝗽 𝗼𝗳 𝗹𝗮𝘀𝘁 𝘄𝗲𝗲𝗸: 𝗥𝗮𝘁𝗲𝘀 𝗺𝗼𝘃𝗲𝗱 𝗵𝗶𝗴𝗵𝗲𝗿 👎
Average mortgage rates last week moved higher after the Fed announced it would likely begin reducing bond purchases in November. The Fed has been keeping mortgage rates low through the purchase of mortgage bonds, called quantitative easing, and reducing those bond purchases will contribute to rates increasing over time.

𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝗰𝗼𝘂𝗹𝗱 𝗴𝗲𝘁 𝘄𝗼𝗿𝘀𝗲 👎
This is a tough week to forecast where rates are headed, after seeing last week's sudden rate jump. Rates could get slightly worse or slightly better depending on how the underlying mortgage bond market performs, although we're hoping not to see any big jump in rates like we got last week. This is an important time to stay in touch with your mortgage professional about your unique situation.

🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Economic data: A busy week for economic and housing data, we could see some day-to-day movement caused by a reaction to different reports including inflation data at the end of the week.
- Fed stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping keep mortgage rates low, although it is now expected that the Fed will begin tapering back on bond purchases after their November Fed meeting.

09/23/2021

❗ Don't be surprised by rising mortgage rates!

🤭 𝗧𝗵𝗶𝗻𝗸𝗶𝗻𝗴 𝗼𝗳 𝗿𝗲𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗻𝗴? 🏡 𝗧𝗵𝗲𝗻 𝘄𝗲 𝗻𝗲𝗲𝗱 𝘁𝗼 𝘁𝗮𝗹𝗸.

Despite outdated headlines 📰 about mortgage rates hitting record lows, mortgage rates are actually starting to creep up a bit.

👉 𝗗𝗼𝗻'𝘁 𝘄𝗼𝗿𝗿𝘆, 𝗜 𝗰𝗮𝗻 𝘀𝘁𝗶𝗹𝗹 𝗵𝗲𝗹𝗽 𝘆𝗼𝘂 𝗴𝗲𝘁 𝗮𝗻 𝗮𝗺𝗮𝘇𝗶𝗻𝗴𝗹𝘆 𝗹𝗼𝘄 𝗿𝗮𝘁𝗲... but you may want to reach out to me sooner than later. Just shoot me a text, an email, a DM, or give me a call. I'll run your numbers and see what we can do for you.

I'm looking forward to hearing from you soon.

09/23/2021

New 5.0-star Review: "Amy was super helpful throughout all steps of the loan process!"

09/20/2021

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗦𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿 𝟮𝟬, 𝟮𝟬𝟮𝟭

𝗥𝗲𝗰𝗮𝗽 𝗼𝗳 𝗹𝗮𝘀𝘁 𝘄𝗲𝗲𝗸: 𝗥𝗮𝘁𝗲𝘀 𝘀𝗹𝗶𝗴𝗵𝘁𝗹𝘆 𝗵𝗶𝗴𝗵𝗲𝗿 👎
Average mortgage rates moved slightly higher last week, as economic data showed the economy continues to recover from the pandemic. Data showed inflation continues to be a concern, and consumers are out spending despite headlines about virus variants.

𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝗰𝗼𝘂𝗹𝗱 𝗯𝗲 𝘃𝗼𝗹𝗮𝘁𝗶𝗹𝗲 𝗮𝗻𝗱 𝗺𝗮𝘆 𝗴𝗲𝘁 𝘄𝗼𝗿𝘀𝗲 ⚠️
Average mortgage rates this week are likely to remain stable to begin the week, but could get volatile on Wednesday when the Fed releases its policy statement and Fed Chair Jerome Powell holds his press conference. It is a good idea to speak with your mortgage professional before Wednesday if you are making the decision soon to lock or float your mortgage loan.

🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Economic data: Despite a few housing reports, there isn't really any data this week that will affect rates.
- Fed stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping keep mortgage rates low.
- Fed meeting: Although highly unlikely that the Fed will raise policy rates or start tapering bond purchases at this meeting, markets will be watching closely for signs of when tapering will begin (it could be as soon as November) and if Fed official think rates will go up in 2022.

09/16/2021

🏡 Home prices are being driven up with bidding wars 💰 and a lack of inventory, and that can be scary. So scary in fact that it may discourage some folks from looking to buy a home now, afraid that we are in a housing bubble.

𝗛𝗲𝗿𝗲 𝗮𝗿𝗲 𝟯 𝗿𝗲𝗮𝘀𝗼𝗻𝘀 𝘁𝗵𝗼𝘂𝗴𝗵 𝘁𝗵𝗮𝘁 𝘁𝗵𝗶𝘀 𝗺𝗮𝗿𝗸𝗲𝘁 𝗶𝘀 𝘁𝗼𝘁𝗮𝗹𝗹𝘆 𝗱𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝘁 𝘁𝗵𝗮𝗻 𝘁𝗵𝗲 𝗵𝗼𝘂𝘀𝗶𝗻𝗴 𝗯𝘂𝗯𝗯𝗹𝗲 𝘄𝗲 𝗲𝘅𝗽𝗲𝗿𝗶𝗲𝗻𝗰𝗲𝗱 𝗮 𝗹𝗶𝘁𝘁𝗹𝗲 𝗼𝘃𝗲𝗿 𝗮 𝗱𝗲𝗰𝗮𝗱𝗲 𝗮𝗴𝗼...

✅ 𝗛𝗼𝘂𝘀𝗶𝗻𝗴 𝘀𝘂𝗽𝗽𝗹𝘆 𝗶𝘀 𝗲𝘅𝘁𝗿𝗲𝗺𝗲𝗹𝘆 𝗹𝗶𝗺𝗶𝘁𝗲𝗱 🏡
Inventory of homes for sale is currently running at less than 2 months, a historic low. A healthy inventory is about 6 months, and in 2008 we were actually up to as high as 11 months inventory.

✅ 𝗛𝗼𝗺𝗲𝗯𝘂𝘆𝗲𝗿𝘀 𝗮𝗿𝗲 𝗺𝗼𝗿𝗲 𝗰𝗿𝗲𝗱𝗶𝘁𝘄𝗼𝗿𝘁𝗵𝘆 👍
In 2008, when the housing market crashed, mortgage standards were at an all time low for credit scores and down payment requirements, as well as proving income and assets to purchase. Current guidelines are much stricter, making the borrowers more financially secure.

✅ 𝗛𝗼𝗺𝗲𝘀 𝗵𝗮𝘃𝗲 𝗲𝗾𝘂𝗶𝘁𝘆 📈
Homeowners were pulling out equity back in 2008, causing many to be upside down. This time around equity levels are extremely high, meaning that homeowners could see values decline slightly without concern.

𝗜'𝗺 𝗮𝘃𝗮𝗶𝗹𝗮𝗯𝗹𝗲 𝘁𝗼 𝘀𝗵𝗮𝗿𝗲 𝘄𝗶𝘁𝗵 𝘆𝗼𝘂 𝗵𝗼𝘄 𝘁𝗼𝗱𝗮𝘆'𝘀 𝗹𝗼𝘄 𝗿𝗮𝘁𝗲𝘀 𝗺𝗮𝗸𝗲 𝘁𝗵𝗶𝘀 𝗮 𝗴𝗿𝗲𝗮𝘁 𝘁𝗶𝗺𝗲 𝘁𝗼 𝗰𝗼𝗻𝘀𝗶𝗱𝗲𝗿 𝗯𝘂𝘆𝗶𝗻𝗴 𝗮 𝗵𝗼𝗺𝗲, 𝗲𝘀𝗽𝗲𝗰𝗶𝗮𝗹𝗹𝘆 𝗮𝘀 𝘃𝗮𝗹𝘂𝗲𝘀 𝗰𝗼𝗻𝘁𝗶𝗻𝘂𝗲 𝘁𝗼 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲. 𝗥𝗲𝗮𝗰𝗵 𝗼𝘂𝘁 𝗮𝗻𝘆𝘁𝗶𝗺𝗲!

09/16/2021

New 5.0-star Review: "We really appreciate all of Amy’s hard work for our mortgage! She went out of her way for us and found us the best rate in town. Amy is thoughtful and reliable and we were lucky to have found her."

09/13/2021

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗦𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿 𝟭𝟯, 𝟮𝟬𝟮𝟭

𝗥𝗲𝗰𝗮𝗽 𝗼𝗳 𝗹𝗮𝘀𝘁 𝘄𝗲𝗲𝗸: 𝗥𝗮𝘁𝗲𝘀 𝘂𝗻𝗰𝗵𝗮𝗻𝗴𝗲𝗱 👍
Average mortgage rates ended last week's holiday shortened week basically unchanged. Rates have continued a trend of stability over the last few weeks, with small movements day-to-day but no big jumps or drops in rates.

𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝘄𝗶𝗹𝗹 𝗿𝗲𝗺𝗮𝗶𝗻 𝗹𝗼𝘄 👍
Average mortgage rates are likely to remain low this week, as markets wait to see what the Fed will do at next week's Fed meeting. Rates are not likely to improve much from here, although we may see some small improvements in rebate pricing - the credit you get towards closing costs from your lender or the fee you pay to get a lower rate, often called 'points'. Be sure to consult your mortgage professional this week about the benefits of locking or floating.

🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Economic data: Inflation data on Tuesday could put a bit of pressure on mortgage rates, as could some retail sales data on Thursday.
- Fed stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping keep mortgage rates low for now.
- Fed tapering: Rates may creep higher if markets speculate that the Fed may begin reducing Treasury and mortgage bond purchases at this month's Fed meeting, which will be held next week.

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Charleston, SC

Opening Hours

Monday	8am - 8pm
Tuesday	8am - 8pm
Wednesday	8am - 8pm
Thursday	8am - 8pm
Friday	8am - 8pm
Saturday	10am - 6pm
Sunday	10am - 6pm

Website

http://www.amycatesmortgage.com/

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Amy Cates, NMLS #1135261 Beacon Community Bank

12/30/2022

12/01/2021

09/27/2021

09/23/2021

09/23/2021

09/20/2021

09/16/2021

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09/13/2021

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