https://www.turnkey-lending.com/s/

TurnKey Lending, 242 Linden Street, Fort Collins, CO (2026)

12/01/2023

Weekly Update: 12/01/2023

Rates have been stubbornly high over the past month or two but as we see improvements heading in to December with 3 MONTH lows in the high 6's!!!

Positive inflation numbers continue to be printed and the markets are generally anticipating that the Fed could begin cutting rates at some point in the next 6-8 months, which has impacted mortgage rates positively.

Despite high rates, home prices have continued to rise across the country, and as such, the conforming limit for conventional loans for 2024 has increased from $726,200 to $766,550.

10/06/2023

Weekly Update: 10/06/2023

The higher rates continue!!!

This week we hit the highest mortgage rate since 2001, driven by multiple economic factors that are causing the US 10 year treasury (which mortgage rates track) to peak at its highest levels in years.
Most lenders rates without points added will be 8% or more right now but our consistently low pricing still has us 0.3%-0.6% better than most competitors! That's around a $25/mth saving for each 0.1% on the average purchase!

Fannie Mae announced this week that conventional loans on 2-4 unit multi-family properties that are owner occupied will only require a 5% down payment as of 11/18/23. This is huge news for investors as previously you would have required a 15-25% down payment!

Finally, with rates being higher, buyers and realtors need to be aware of lender pricing strategies. Be aware of ‘low rates’ being offered that require discount points to be paid upfront. Discount points are not a bad thing but paying discount points to get a rate that can be obtained for ZERO points is!!!

If you're looking at buying a home or you're a realtor working with clients, please reach out to discuss rates, affordability and how we can provide a value driven service for those buying a home!

Have a GREAT weekend!

09/15/2023

Weekly Update: 9/15/2023

Higher rates are back this week with all eyes on the Fed meeting next week to see how they interpret the latest inflation data and their subsequent actions.

In July, we saw both producer and consumer inflation inch higher and that trend has now continued for a second month in a row in August. Although broader oil and gas industry pressures will have accounted for some of that, it’s now down to the Fed to see how they react. There’s above a 50% chance of a rate increase next week but the chances of at least one more rate increase by the end of the year are looking higher based on this latest data.

Despite the higher rates impacting home affordability, there are now better opportunities to negotiate seller concessions. Higher rates have lowered demand and as such, sellers are more open to offering concessions. Obtaining approx. 2% in seller concessions could allow you the opportunity to leverage a 2-1 buydown. Contact us to hear more!

If you're looking at buying a home or you're a realtor working with clients, please reach out to discuss rates, affordability and how we can provide a value driven service for those buying a home!

Have a GREAT weekend!

09/01/2023

Weekly Update: 9/1/2023

Good news for the week is that rates have come back down from the 20yr highs of two weeks ago with rates sitting approximately 0.4% lower. If you’re seeing rates above 7%, reach out to us because our rates are below 7% for well qualified buyers!

Economic data continues to show mixed signals, with negative data impacting rates being followed by positive data. This is causing rates to fluctuate while the markets try to align on a consensus of what is actually happening. Inflation numbers due out on 9/13 will be important prior to the Fed’s September rate meeting.

After a 3yr hiatus, student loan repayments are due to resume beginning 10/1/23. This will impact a buyer's debt-to-income (DTI) ratio because the payment will be included in calculations and as such, the amount they can qualify for will go down. Added to higher rates, this puts a squeeze on affordability so getting the best rate available matters and we confident we offer some of the best rates around.

If you're looking at buying a home or you're a realtor working with clients, please reach out to discuss rates, affordability and how we can provide a value driven service for those buying a home!

Have a GREAT weekend!

08/18/2023

Weekly Update: 8/18/2023

This week was rough for rates as they reached a 20yr high. Why did they go up if the Fed hadn't raised rates since their last meeting?

1. The Fed monitors inflation and has a goal to bring it down to 2%. Raising interest rates tapers inflation, so they will look at inflation numbers and employment numbers to determine if people will keep spending and driving inflation

2. The Fed rate isn’t just what drives mortgage interest rates. Mortgage interest rates track the US 10yr Treasury Bond, which although heavily impacted by the Fed interest rate, it is impacted by many more things as the dollar strengthens and weakens

3. In the past week, a weak 10yr bond sale, higher than expected producer inflation for July, other countries raising interest rates and the July Fed meeting minutes pointing to potentially further rate hikes all impacted the US10YR.
Expect rates to continue to fluctuate as conflicting economic data comes in and we start to see the lagging impact of 12 rate rises on the economy.

With chaos comes opportunity! The number of homes sold at a discount raised from 12.3% to 16.8% from April to July, which means sellers are becoming more open to offering discounts. This creates a great opportunity to be creative with financing options that benefit buyers to improve affordability and we can help you understand these strategies.

If you're looking at buying a home or you're a realtor working with clients, please reach out to discuss rates, affordability and how we can provide a value driven service for those buying a home!

Have a GREAT weekend!

08/11/2023

Weekly Update: 8/11/2023

After consecutive months of slowing and positive inflation data, July inflation numbers were out this week. They failed to wow us! Consumer inflation essentially met the expected targets, with a slight win with YoY core inflation beating estimates by 0.1%. The villain this week was the Producer inflation numbers, which is the cost of goods from producers to companies buying. This number went up slightly higher than expected in July. Why is this important? If companies are purchasing goods at a higher price, they potentially will pass that on to consumers….which means the next couple of months could see higher than expected consumer inflation.

So, rates remain stubbornly high and they are ranging based on conflicting economic data by the week. The good news is that the Fed is skipping their meeting in August, so the next one is in September on 9/16. Before that meeting, we will have August inflation data out on 9/13, so that data will likely be the deciding factor on whether another rate hike is added or if the Fed is confident skipping for a month.

Finally, information is key! You don’t know what you don’t know and there are so many factors when buying a home. We aim to provide information transparently and in an easy way to digest so that you can become better informed buyers. Take your affordability assessment on our website today, to get your rate, budget and likely loan approval amount.

If you're looking at buying a home or you're a realtor working with clients, please reach out to discuss rates, affordability and how we can provide a value driven service for those buying a home!

Have a GREAT weekend!

08/04/2023

Weekly Update: 8/04/2023

It was a rough week for rates as the US 10yr Treasury spiked close to the peak we saw back in October 2022. As mentioned last week, inflation coming down over the past two months is positive and gives hope that the Fed will pause any more rate hikes but broader economic developments can and will continue to fluctuate the US 10yr Treasury price, which is what drives mortgage rates.

Next week sees the July inflation numbers announced on Thursday and Friday. After 2 months of beating expectations, can we get a third month to really solidify the trend or did the strong economic data result in increased spending and fuel inflation?

We can’t emphasize enough the importance of getting a low rate, especially as high as they are. Not only have we developed our business model to be able to do this v other lenders but we are fully transparent with our rates, making them available to borrowers online via our Affordability Assessment & Beat Your Rate tools.

If you're looking at buying a home or you're a realtor working with clients, please reach out to discuss rates, affordability and how we can provide a value driven service for those buying a home!

Have a GREAT weekend!

07/28/2023

Weekly Update: 7/28/2023

As we’ve stated in the last few updates, the Fed, as expected, raised interest rates by 0.25% at their 7/26 meeting this week. With interest rates having a lagging effect in impacting areas of the economy, the Fed is relying on recent and future economic data reporting to determine how they will proceed. We expect a pause in interest rate hikes for at least a couple of months with the Fed not ruling out a further increase this year if economic data shows a need to do so.

Today, the core inflation numbers that the Fed prefers for measuring inflation came in 0.1% below expectations YoY. Another positive in the fight against inflation after two consecutive months of better than expected inflation numbers.

Saving money for a down payment and closing costs while inflation is running high is difficult. We are able to help buyers reduce the amount of cash they need upfront to purchase a home by waiving escrows on most conventional loans. Most lenders REQUIRE escrows when putting down less than 20% on a home.

If you're looking at buying a home or you're a realtor working with clients, please reach out to discuss rates, affordability and how we can provide a value driven service for those buying a home!

Have a GREAT weekend!

07/21/2023

Weekly Update: 7/21/2023

Rates have stabilized over the past week as we await the Fed meeting next Wednesday and understand how their fight against inflation is progressing. Recent economic data has shown promising signs but will we see inflation rebound? 100% of economists are predicting a 0.25% rate increase on 7/26 with many feeling it could be the last of this rate increase cycle!

Economists are also optimistic that we have seen the worst of the recent housing recession. With rate potentially peaking and likely to stay elevated before starting to come down over the next 12-18 months and low housing supply, a rebound in the market is expected as things loosen up.

TurnKey Lending is focused on putting the borrower first and executing. We work with lenders offering solutions for most scenarios, consistently low rates and creative solutions that keep as much money in borrowers pockets as possible.

If you're looking at buying a home or you're a realtor working with clients, please reach out to discuss rates, affordability and how we can provide a value driven service for those buying a home!

Have a GREAT weekend!

07/15/2023

Weekly Update: 7/14/2023

The beat on both inflation and jobless claims was a welcome relief, with rates dipping approximately 0.25% after the latest economic numbers came out.

Inflation is not linear, there will be ups and downs as the rate comes down from month to month so we need to remain cautious but this provides optimism that the lag effect of the rate increases is beginning to take effect.

Despite still relatively high rates, TurnKey Lending is focused on providing some of the best rates available to our clients. On average, 0.3% to 0.6% better than our competitors, you can get your likely rate by taking our online personal assessment today! You will receive you rate, likely loan approval amount and various buying scenarios within a couple of minutes. Find out where you stand on your journey to buying your new home!

If you're looking at buying a home or you're a realtor working with clients, please reach out to discuss rates, affordability and how we can provide a value driven service for those buying a home!

Have a GREAT weekend!

07/07/2023

Weekly Update: 7/7/23

Things got ugly this week on the rate front, with rates hitting the highest they've been since November 2022! Strong employment data further re-enforcing the market view that the Fed will raise rates by 0.25% on 7/28 built on other recent strong economic data.

Despite the rate increase, we are still able to offer some of the best pricing around with additional strategies available to improve affordability so that people can continue to buy.

If you're in the home buying process and want to see if you're getting the best rate available for your circumstance, check out our Beat Your Rate tool on our website, where you can get an instant decision in a few seconds on whether we can beat your current rate or not.

If you're looking at buying a home or you're a realtor working with clients, please reach out to discuss rates, affordability and how we can provide a value driven service for those buying a home!

06/30/2023

WEEKLY UPDATE 6/30/2023:

Economic data has pushed rates to their highest levels since March, with markets now pricing in a 87% chance of another 0.25% Fed rate hike in July. Not great news on the rate front but as you can see, we're one of the few lenders still able to offer well qualified buyers rates below 7%.

AirBnB revenues have crashed over the past year in key cities around the US. 4 of the top 15 cities to crash are in our Colorado and Texas markets that we serve. AirBnB owners entering the space late could be forced to list their homes if their investments are no longer profitable.

If you're looking at buying a home or you're a realtor working with clients, please reach out to discuss rates, affordability and how we can provide a value driven service for those buying a home!

Have a great 4th of July weekend!!!

TurnKey Lending

12/01/2023

10/06/2023

09/15/2023

09/01/2023

08/18/2023

08/11/2023

08/04/2023

07/28/2023

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06/30/2023

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