Scott Rittinger, Loan Officer, NMLS #2232782

12/14/2023

Mortgage rates felt relief yesterday and today! The Fed's Open Markets Committee (FOMC) decided to pause on a rate hike and hold steady at a range of 5.25% to 5.5%.

Even better, the Fed anticipates making three 25 basis point rate cuts in 2024.

The near future will bring further declines in mortgage rates, just in time for the spring housing market.

“Mortgage rates could near 6.5% by the end of the year, a key factor in starting to provide affordability relief to homebuyers,” said Realtor.com Chief Economist Danielle Hale.

(graph from Freddie Mac)

11/21/2023

5.0 star review received on Experience.com for Scott Rittinger by Garrett R - Scott was very helpful in providing resources and answering my questions as a first-time home buyer.

Click to see all 6 reviews of Scott Rittinger, Senior Loan Officer | NMLS #: 2232782

07/07/2023

Have you ever heard that all of your debts should not exceed 36% of your gross income?

We know that the debt-to-income (DTI) ratio is not a one-size-fits-all. We customize a mortgage solution based on your true DTI vs. a national average.

Contact us today, so we can walk through home loan options that will further your financial health.

04/28/2023

04/22/2023

Excited to announce that my mortgage business is now under Allied Mortgage Group. My team remains the same. Our office is the same. We just have a new name with more lending options. Ask me about the improved experience I can now provide! Take note of my new email address: [email protected], and I'll reach out soon.

04/01/2023

https://www.sothebysrealty.com/eng/sales/detail/180-l-868-5fs3dg/1577-hickory-drive-erie-co-80516

Check out this fantastic home that just came to the market; it is spacious and sports all the hot features! Open house until 2pm today!

03/13/2023

Mortgage rates continue their upward trajectory as the Federal Reserve signals a more aggressive stance on monetary policy. Overall, consumers are spending in sectors that are not interest rate sensitive, such as travel and dining out. However, rate-sensitive sectors, such as housing, continue to be...

11/03/2022

Yesterday, the Federal Reserve announced another rate hike.
• It's the 4th consecutive time the Fed has raised rates by three quarters of a point.
• They hinted that December's rate hike would be 50 basis points (vs. the 75).
• The Federal Funds Rate is now at 4% (compared to over 16% in the early '80s - see the chart below).
• Chairman Powell's stated that he doesn't think the Fed has done enough, and he prefers to overdo it.
• The purpose of rate hikes is to curb inflation which is at the fastest pace in 40 years (8.2% in September vs. 2% goal).

How does this move impact residential real estate?

While interest rates have risen this year, real estate is still considered a secure investment. With one more rate hike in 2022, it will be less to buy today than over the next four months. As a homeowner you can build equity, even with a higher interest rate. With renting, there’s no equity at all. Contact me to discuss your options.

Shows the daily level of the federal funds rate back to 1954. The fed funds rate is the interest rate at which depository institutions (banks and credit unions) lend reserve balances to other depository institutions overnight, on an uncollateralized basis. The Federal Open Market Committee (FOMC) me...

11/03/2022

5.0 star review received on Experience.com for Scott Rittinger by Jennifer H - Scott and his colleagues were excellent finding solutions to a complicated process.

Click to see all 2 reviews of Scott Rittinger,
Mortgage Loan Originator

09/26/2022

5.0 star review received on Experience.com for Scott Rittinger by Kevin T R - Scott made this experience so pleasant and smooth. I greatly appreciated his guidance and quick communications. He was excellent all the way around.

Click to see all 1 reviews of Scott Rittinger,
Mortgage Loan Originator

09/23/2022

The average net worth of homeowners is 40-times that of renters, according to a 2020 survey. Even with higher mortgage rates, rent in the Denver metro area often costs more than a mortgage.

If you plan to stay in this area, you must overcome concerns of this expensive market and start building long-term wealth through home ownership.

Contact us to make sure you can buy within your means and gain equity over time.

(Data from the Federal Reserve's triennial Survey of Consumer Finances)